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
Dissecting how inflation could ripple into automotive space
Wednesday, Feb. 7, 2018, 03:56 PM
Nick Zulovich, Senior Editor
Cox Automotive senior economist Charlie Chesbrough explained the challenge facing the Federal Open Market Committee (FOMC) at the Federal Reserve. Chesbrough articulated how the implications might not impact dealership turns and finance company originations immediately, but he cautioned that trends ... [Read More]
AUL Corp. surpasses 2M contracts and adds to sales team
Wednesday, Feb. 7, 2018, 03:51 PM
SubPrime Auto Finance News Staff
It took AUL Corp. 21 years to reach 1 million vehicle services contracts. According to a new release shared this week, the VSC provider doubled that figure seven years later. AUL president and chief executive officer Jimmy Atkinson announced the ... [Read More]
2 ways longer terms impacted Credit Acceptance in Q4
Monday, Feb. 5, 2018, 04:25 PM
Nick Zulovich, Senior Editor
Stretching terms forced Credit Acceptance to adjust its expectations for future cash flows. But increasing contract length to the longest average in company history perhaps helped the finance provider turn around a string of declines in the number originations from ... [Read More]
CFPB’s office of fair lending now within acting director’s office
Friday, Feb. 2, 2018, 04:27 PM
Nick Zulovich, Senior Editor
Another busy week at the Consumer Financial Protection Bureau closed with a personnel move by the acting director that one legal expert called without hesitation, “a big deal.” According to an internal email first brought to light by The Washington ... [Read More]
Experts, industry leaders and lawmakers dissect appeals court action over CFPB
Thursday, Feb. 1, 2018, 03:24 PM
Nick Zulovich, Senior Editor
Two attorneys who spent part of their legal careers with the Consumer Financial Protection Bureau and are now in private practice described how the regulator can claim some victories since the latest federal court action deemed the agency is constitutional. ... [Read More]
Appeals court overturns previous decision and affirms CFPB structure
Wednesday, Jan. 31, 2018, 08:10 PM
SubPrime Auto Finance News Staff
The decision has arrived. The current structure of the Consumer Financial Protection Bureau is constitutional, according to the latest federal court action. On Wednesday, the en banc review by the D.C. Circuit Court of Appeals surfaced, and the majority opinion ... [Read More]
Credit report research project results in ProMax’s latest dealer tool
Wednesday, Jan. 31, 2018, 02:55 PM
SubPrime Auto Finance News Staff
Here’s another example of data and research leading directly to development of a solution aimed at smoothing out underwriting, which in turn helps finance companies book more paper and dealerships turn more metal. Dealer Marketing Services, the makers of ProMax, ... [Read More]
LAUNCHER.SOLUTIONS integrates with Dealertrack to speed up subprime deals
Wednesday, Jan. 31, 2018, 02:54 PM
SubPrime Auto Finance News Staff
For the second time this month, LAUNCHER.SOLUTIONS has reached another strategic partnership. On Tuesday, LAUNCHER.SOLUTIONS, a technology provider specializing in subprime automotive finance originations, announced an integration with Dealertrack. The partnership allows finance companies using LAUNCHER to streamline the process ... [Read More]
TFS gives Kaizen Award to Millennium Capital and Recovery
Tuesday, Jan. 30, 2018, 04:41 PM
SubPrime Auto Finance News Staff
One forwarding company evidently is performing “The Toyota Way.” Millennium Capital and Recovery Corp. closed 2017 with a bang by earning the prestigious Kaizen Award from Toyota Financial Services (TFS). The Hudson, Ohio-based firm was recognized for its continuous innovation ... [Read More]
2 more Hudson Cook partners recognized among industry’s best
Tuesday, Jan. 30, 2018, 04:08 PM
SubPrime Auto Finance News Staff
Two more Hudson Cook partners are receiving accolades for their depth of knowledge and performance within consumer finance law. Hudson Cook partners Lucy Morris and Ryan Stinneford have been elected as Fellows of the American College of Consumer Financial Services ... [Read More]