Survey: 27% of consumers do not review their credit report annually
Wednesday, Oct. 2, 2024, 10:57 AM
Survey: 27% of consumers do not review their credit report annually
Wednesday, Oct. 2, 2024, 10:57 AM
FTC reiterates use of ‘plain language’ associated with regulatory activities
Monday, Sep. 30, 2024, 11:35 AM
6 federal regulators encourage modifications as Hudson Cook provides collections insights
Thursday, Mar. 26, 2020, 01:01 PM
SubPrime Auto Finance News Staff
While auto-finance providers communicate with their customers impacted by the coronavirus pandemic, six different federal regulatory agencies encouraged institutions to work constructively with borrowers affected by COVID-19 while providing additional information regarding loan modifications. Meanwhile, Hudson Cook partner Anastasia Caton ... [Read More]
Survey: ESG considerations continue to emerge in credit risk management
Wednesday, Mar. 25, 2020, 01:57 PM
SubPrime Auto Finance News Staff
In light of the marketplace nowadays being filled with as much uncertainty since the financial crisis of 12 years ago, a new survey published recently by S&P Global Market Intelligence examined how portfolio management processes have been evolving to account ... [Read More]
ARA offers support to repo agencies as coronavirus pandemic creates confusion
Wednesday, Mar. 25, 2020, 01:36 PM
SubPrime Auto Finance News Staff
The American Recovery Association issued a message late Tuesday, acknowledging the immense problem the coronavirus pandemic is causing when it comes to collections and vehicle repossessions. As more states and municipalities issue stay-at-home orders, ARA has tried to get clarity ... [Read More]
UPDATED: Auto-finance industry makes more adjustments as coronavirus pandemic evolves
Tuesday, Mar. 24, 2020, 03:50 PM
SubPrime Auto Finance News Staff
With guidelines to contain the spread of COVID-19 also suffocating regular activity of financing and retailing vehicles, the auto-finance industry continues to make adjustments to shore up their businesses and maintain contact and services to customers. Cherokee Media Group gathered ... [Read More]
6 association ask for CECL implementation pause
Monday, Mar. 23, 2020, 06:42 PM
SubPrime Auto Finance News Staff
The American Bankers Association. American Financial Services Association and the Consumer Bankers Association represented half of the industry groups that sent a letter on Sunday to the Securities and Exchange Commission (SEC) to delay implementation of the Current Expected Credit ... [Read More]
Experian returning to Twitter to offer education program amid COVID-19
Monday, Mar. 23, 2020, 02:39 PM
SubPrime Auto Finance News Staff
Along with many finance companies offering their own programs, Experian also is accelerating and enhancing its financial education in response to the urgent and rapid changes associated with COVID-19. With expected delays in bill payments, unprecedented layoffs, hiring freezes and ... [Read More]
Free webinar to help maintain call-center continuity
Monday, Mar. 23, 2020, 02:36 PM
SubPrime Auto Finance News Staff
CallMiner is leveraging its 17 years of experience to offer a free webinar to help finance companies keep one of their most important departments functioning as the coronavirus impact intensifies — their call centers. CallMiner’s Steve Chirokas and Brian LaRoche ... [Read More]
KBRA spots February ABS improvement but braces for forthcoming deterioration
Thursday, Mar. 19, 2020, 01:54 PM
SubPrime Auto Finance News Staff
Kroll Bond Rating Agency (KBRA) noticed seasonal improvement in February as analysts released their auto loan ABS update this week. However, much of KBRA’s latest discussion revolved around the impact COVID-19 is going to leave. But first, analysts reviewed their ... [Read More]
Ally to defer consumer payments up to 120 days
Wednesday, Mar. 18, 2020, 06:52 PM
SubPrime Auto Finance News Staff
Ally Financial took significant action to help both consumer and dealer customers who might be experiencing significant cash-flow issues triggered by the COVID-19 health crisis. In a news release distributed on Wednesday afternoon, Ally said existing loan customers will be ... [Read More]
Latest 60-day delinquency readings show stability going into potential turbulence
Wednesday, Mar. 18, 2020, 03:19 PM
SubPrime Auto Finance News Staff
Similar to the latest reading on defaults, Experian’s Q4 2019 State of the Automotive Finance Market Report showed 60-day delinquencies finished the year in a stable place as the industry braces for potential jumps in these metrics stemming from the ... [Read More]