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
PenFed Credit Union ramps up Nationals sponsorship to salute the military
Wednesday, May. 16, 2018, 04:20 PM
SubPrime Auto Finance News Staff
The nation’s second largest federal credit union is taking servicemembers out to the ballgame. This week, PenFed Credit Union announced it has signed a unique and expansive sponsorship deal with the Washington Nationals Major League Baseball team. The new three-year ... [Read More]
Former top Exeter, AmeriCredit leaders reunite again with FinTech firm
Wednesday, May. 16, 2018, 04:14 PM
SubPrime Auto Finance News Staff
After collaborating previously at Exeter Finance and AmeriCredit, auto finance industry veterans Mark Floyd and Kenneth Wardle are teaming up again; this time to leverage what’s happening online when consumers search for financing. According to a news release sent to ... [Read More]
Credit Acceptance sees increased activity for originations and compliance
Monday, May. 14, 2018, 06:49 PM
Nick Zulovich, Senior Editor
As the subprime auto finance company’s field representatives are generating more business from their active dealer network, state and federal regulators are keeping the compliance team at Credit Acceptance busy, too. The latest filing to the Securities and Exchange Commission ... [Read More]
2 reasons why auto finance stabilized in Q1
Monday, May. 14, 2018, 02:52 PM
Nick Zulovich, Senior Editor
Brian Landau, senior vice president and automotive business leader at TransUnion, again used a single word to summarize the latest quarterly auto finance information he and his team assembled. Landau decided the first-quarter moniker should be stabilization. Landau explained his ... [Read More]
3 executive moves at GrooveCar as credit-union member reach jumps nearly 60%
Friday, May. 11, 2018, 03:31 PM
SubPrime Auto Finance News Staff
As the number of credit union members its platform now can reach swelled nearly 60 percent year-over-year, GrooveCar adjusted its executive team with additional resources to support its credit union partners. Three new management positions highlight GrooveCar’s increased focus on ... [Read More]
New Swaplease.com cost analysis reinforces leasing benefits
Friday, May. 11, 2018, 02:39 PM
SubPrime Auto Finance News Staff
Despite all the cash being thrown on hoods nowadays, it appears the numbers still tilt to benefit leasing. Swapalease.com recently shared new data that show lease payments would still be more attractive than installment contract payments even after dealers and ... [Read More]
Ally lands another major relationship; this time with Sonic’s EchoPark
Thursday, May. 10, 2018, 02:24 PM
SubPrime Auto Finance News Staff
Ally Financial is continuing to diversify its relationship portfolio. Adding to a parade of developments since the beginning of the year, Ally announced on Thursday that it has signed an agreement with Sonic Automotive. Effective this month, Ally will be ... [Read More]
House passes resolution effectively repealing CFPB vehicle finance guidance
Wednesday, May. 9, 2018, 03:27 PM
SubPrime Auto Finance News Staff
Now it just needs President Trump’s signature. Much to the delight of industry leaders, the U.S. House of Representatives voted on Tuesday to repeal the Bureau of Consumer Financial Protection’s controversial 2013 guidance on indirect auto financing. The House approved ... [Read More]
NY attorney general — an aggressor in automotive regulation — resigns amid abuse allegations
Tuesday, May. 8, 2018, 02:22 PM
SubPrime Auto Finance News Staff
An attorney general who previously had taken aggressive regulatory and enforcement actions within the automotive space has resigned amid allegations of physical abuse against women. According to a report published on Monday afternoon in The New Yorker, New York attorney general ... [Read More]
Tennessee executive receives AFSA’s Outstanding Independent Award
Monday, May. 7, 2018, 03:37 PM
SubPrime Auto Finance News Staff
The American Financial Services Association recently held its 2018 Independents Conference & Exposition in Ft. Lauderdale, Fla., an event that brings together institutions that oftentimes offer auto financing as well as other types of personal loans. AFSA handed out its ... [Read More]