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
Automotive Credit Corp. partners with CoreLane to streamline application process
Monday, Jan. 29, 2018, 04:50 PM
SubPrime Auto Finance News Staff
CoreLane Technologies, a provider of innovative transactional connectivity solutions for dealers and finance companies, on Monday announced that Automotive Credit Corp. will make the innovative CreditLane platform available to its network of dealers. Executives highlighted the CreditLane platform, which can ... [Read More]
Credit unions in 14 states join GrooveCar platform in Q4
Monday, Jan. 29, 2018, 04:47 PM
SubPrime Auto Finance News Staff
GrooveCar recently highlighted credit unions from 14 different states joined its online vehicle buying program during the fourth quarter. GrooveCar, which provides credit union partners with continuous support services, market consulting, marketing collateral support to optimize communications with members and ... [Read More]
As CFPB revises CID process, scammers use bureau’s name to swindle consumers
Monday, Jan. 29, 2018, 04:45 PM
Nick Zulovich, Senior Editor
Well, here is an interesting twist, since probably the last thing that auto finance companies or dealerships feel if they’ve been contacted by the Consumer Financial Protect Bureau is that they’ve won the lottery. There have been several times that ... [Read More]
PAR North America promotes 3 executives
Friday, Jan. 26, 2018, 03:41 PM
SubPrime Auto Finance News Staff
Coming on the same day KAR Auction Services named a new president at ADESA, another business unit within the company made a trio of promotions. PAR North America, a leading U.S. provider of vehicle transition services with coast-to-coast solutions for ... [Read More]
Innovate Auto Finance secures $50M deal with asset management firm
Friday, Jan. 26, 2018, 03:40 PM
SubPrime Auto Finance News Staff
Investment firms continue to push funds into the auto finance space. Not long after defi SOLUTIONS landed $55 million, Innovate Auto Finance — a purchaser and servicer of automobile loan portfolios and provider of line-of-credit financing — said it has ... [Read More]
Ally pledges $750M to buy contracts from DriveTime
Wednesday, Jan. 24, 2018, 05:03 PM
SubPrime Auto Finance News Staff
DriveTime might be still searching for a new chief executive officer, but the retailer that specializes in working with consumers with soft credit now has more resources for originations. Ally Financial on Wednesday announced that it has entered into an ... [Read More]
As DRN’s hotlist hits new high, recoveries top record $2B
Wednesday, Jan. 24, 2018, 02:57 PM
SubPrime Auto Finance News Staff
Digital Recognition Network (DRN) is finding plenty of work for repossession agents to do, and it’s resulting in record recoveries for auto finance companies. DRN highlighted on Tuesday that its active hotlist hit an all-time high of 360,000 license plate ... [Read More]
Enhanced workforce pushes CRIF Select to nearly $4B in originated volume
Wednesday, Jan. 24, 2018, 02:56 PM
SubPrime Auto Finance News Staff
Boosting its workforce worked out nicely for CRIF Select. CRIF Select, a division of CRIF Lending Solutions and provider of indirect auto finance partner programs, announced on Wednesday that the company surpassed $3.7 billion in funded paper volume for 2017. ... [Read More]
Darwin Automotive updates platform based on latest Military Lending Act interpretation
Tuesday, Jan. 23, 2018, 06:10 PM
SubPrime Auto Finance News Staff
F&I software provider Darwin Automotive announced on Tuesday that it has integrated smart disqualify technology into its F&I platform that can disqualify products based on Military Lending Act (MLA) qualifications. The company said this technology is incorporated into the platform ... [Read More]
FTC Act civil penalties rise based on inflation
Tuesday, Jan. 23, 2018, 04:27 PM
SubPrime Auto Finance News Staff
In combing through the Federal Register this week, the National Automobile Dealers Association found that the Federal Trade Commission recently announced increases to various civil penalties amounts within its jurisdiction to adjust for inflation. In particular, that could be associated ... [Read More]