Coinciding with Kathleen Kraninger telling the Senate Banking Committee this week how she would oversee the regulator as its new director, the Consumer Financial Protection Bureau outlined the head of a new division — the Office of Innovation. Acting director ... [Read More]

Over the years, repossession and skip-tracing services have come to be viewed somewhat as commodities by many in the lending community. As such, outside of compliance, the primary focus around the management of these services has been cost. After all, since ... [Read More]

For the first time since last fall, the auto default rate remained flat on a sequential basis. According to data through June released this week by S&P Dow Jones Indices and Experian, last month’s reading came in at 0.93 percent; ... [Read More]

I’ve recently spent a considerable amount of time poring over the 2018 Non-Prime Automotive Finance Survey, which is administered annually by the National Automotive Finance Association. All who review this important survey will see the story of increasing operating expenses, ... [Read More]

Late last week, RouteOne announced that C&F Finance Co. is now an available e-contracting finance source for dealers utilizing the RouteOne platform. The move was made in an effort to augment the digital exchange of critical contract documents and data ... [Read More]

Now all three major credit bureaus have made a move to bolster their offerings within the alternative-data space. On Monday, Equifax announced that it has acquired DataX, a leading specialty finance credit reporting agency and alternative data provider to finance ... [Read More]

This week, GWC Warranty announced the inception of a newly created major account management team. The provider of used-vehicle service contracts sold through dealers indicated this new team of five highly skilled and experienced account managers will be led by ... [Read More]

Reynolds and Reynolds enhanced its relationship with the Penske Automotive Group this week. The two companies announced they extended their exclusive agreement for Reynolds to provide the Reynolds Retail Management System to all Penske franchised dealerships in the U.S. and ... [Read More]

The challenges of working with customers who might not be fluent in English has cost a New York franchised dealership nearly $500,000. New York attorney general Barbara Underwood recently announced a settlement requiring Bay Ridge Honda of Brooklyn to reform ... [Read More]

Back in October 2015, AFS Acceptance chief executive officer Dov Szapiro explained why his company’s decision to sell 65 percent of its equity to Mexican finance institution Credito Real “could not have occurred at a better time.” Now this summer, ... [Read More]