CFPB’s newest Supervisory Highlights detail numerous ‘illegal practices’ in auto finance
Tuesday, Oct. 8, 2024, 10:11 AM
Agora Data reveals 5 members of new financial institutions group
Wednesday, Oct. 9, 2024, 10:59 AM
Automotive Risk Management Partners tries to see potential positives from CARS Rule
Wednesday, Oct. 9, 2024, 11:00 AM
RISC extends waiver of membership-education subscription fees through July 1
Friday, May. 22, 2020, 03:28 PM
SubPrime Auto Finance News Staff
After nearly two months of COVID-19 related ordinances and regulations, RISC acknowledged the repossession industry has not opened up in all areas, continuing to pressure recovery agency owners and their staff financially. RISC wants to support agents during this crisis ... [Read More]
Credit Acceptance CEO credits workforce for navigating COVID-19 thus far
Friday, May. 22, 2020, 03:20 PM
SubPrime Auto Finance News Staff
After being delayed because of the coronavirus pandemic, Credit Acceptance Corp. plans to return from Memorial Day weekend and share its first-quarter results on Wednesday. Earlier this week, the subprime auto finance company gave a glimpse of how it’s ... [Read More]
Auto defaults drop to 10-year low even as jobless claims approach 39M
Thursday, May. 21, 2020, 02:08 PM
Nick Zulovich, Senior Editor
For the second month in a row, the auto-finance portion of the S&P/Experian Consumer Credit Default Indices for April dropped to the lowest level in 10 years, even as the U.S. Department of Labor said another 2,438,000 workers made initial ... [Read More]
ANALYSIS: Examining Top 8 collateral-recovery challenges
Wednesday, May. 20, 2020, 03:51 PM
Joel Kennedy, NAF Association
Editor’s note: This commentary is the second in a series compiled by Joel Kennedy, who is the current president of the National Automotive Finance Association and board adviser at TruDecision, looking at the intricacies of repossessions and recovery. The first segment ... [Read More]
Launcher rolls out origination solutions tailored for credit unions
Wednesday, May. 20, 2020, 03:44 PM
SubPrime Auto Finance News Staff
LAUNCHER.SOLUTIONS (Launcher) entered the credit-union world on Tuesday to offers a solution the company believes can work exceptionally well in both the prime and the subprime market with regard to risk assessment and complex workflows. The technology provider specializing in ... [Read More]
F&I Providers Relief Fund strives toward $1M goal as need grows
Wednesday, May. 20, 2020, 03:34 PM
SubPrime Auto Finance News Staff
Personnel within one of the most important dealership departments still need help as the coronavirus pandemic continues. Organizers of the F&I Providers Relief Fund for F&I managers have raised more than $500,000 in only about a month — half of ... [Read More]
SCUSA reaches $550M settlement with 33 states over subprime paper
Wednesday, May. 20, 2020, 03:29 PM
SubPrime Auto Finance News Staff
On Tuesday, Santander Consumer USA Holdings finalized a voluntary settlement topping $550 million with 33 states and the District of Columbia that alleged that contracts that the finance company funded through certain dealers dating back to 2010 violated consumer protection ... [Read More]
Location Services adds 2 new executives to management team
Tuesday, May. 19, 2020, 06:42 PM
SubPrime Auto Finance News Staff
Location Services made two significant additions to its senior leadership team on Tuesday. The provider of loss mitigation solutions for the financial services industry brought on Jose Delgado as chief client officer and Mohit Mahajan as chief information officer. Delaware ... [Read More]
KBRA leverages latest ABS data to estimate payment frequency
Tuesday, May. 19, 2020, 02:53 PM
SubPrime Auto Finance News Staff
Kroll Bond Rating Agency (KBRA) used the research for its latest auto-finance securitization indices to gauge the volume of both prime and non-prime retail installment contract holders maintaining their payments, at least for the March recording period. At least for ... [Read More]
Consumer complaints to CFPB hit record volume during pandemic
Monday, May. 18, 2020, 03:51 PM
SubPrime Auto Finance News Staff
Consumer Financial Protection Bureau director Kathleen Kraninger had a busy public agenda last week, sharing remarks at National Association of Realtors 2020 legislative meetings as well as the public meeting of the Financial Literacy and Education Commission, along with a ... [Read More]