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
Credit Acceptance responds to accounting and salesforce questions
Thursday, Nov. 9, 2017, 03:38 PM
Nick Zulovich, Senior Editor
Beyond its originations and collections activities, Wall Street observers questioned Credit Acceptance Corp. leadership about two specific operational areas when executives discussed their third-quarter results. Investment analysts wanted to know about Credit Acceptance’s strategy for adding to its sales force ... [Read More]
Balancing the risk versus rewards of financing to millennials
Wednesday, Nov. 8, 2017, 08:24 PM
Brien Joyce, EFG Companies
Millennials — those individuals born between 1980 and 1994 — currently represent 25 percent of the total buying power in the U.S., according to a recent study by TransUnion. They also control a large chunk of liquid assets, an amount that ... [Read More]
Emre Ucer: 2017 Repossession Executive of the Year
Wednesday, Nov. 8, 2017, 05:16 PM
Nick Zulovich, Senior Editor
Some individuals find riding motorcycles exhilarating, especially as they gain more experience with the machines. But just like with vehicles, sometimes these individuals do not keep up with their financial responsibilities mandated in a contract, triggering a repossession. As an ... [Read More]
Ally chooses former Citigroup exec to be chief strategy officer
Wednesday, Nov. 8, 2017, 04:36 PM
SubPrime Auto Finance News Staff
Coinciding with the finance company’s enhanced relationship with Carvana, Ally Financial on Wednesday announced that Dinesh Chopra has joined the company as its new chief strategy officer. In his newly created role Chopra will lead Ally’s corporate strategy team, helping ... [Read More]
Southern California dealer group to pay FTC $1.4 million over advertising issues
Wednesday, Nov. 8, 2017, 04:34 PM
SubPrime Auto Finance News Staff
The Federal Trade Commission flexed its regulatory muscle again this week. Officials said a southern California-based dealership group will pay $1.4 million to settle FTC charges that it violated a 2014 administrative order prohibiting the company from misrepresenting how much ... [Read More]
Interest rate rise in December appears likely
Monday, Nov. 6, 2017, 04:21 PM
Nick Zulovich, Senior Editor
With the Federal Reserve again passing on the chance to move interest rates higher this month, S&P Global Ratings is expecting the Federal Open Market Committee to tick the target range for the federal funds rate up by 25 basis ... [Read More]
TD Auto Finance’s top exec among AFSA award winners
Monday, Nov. 6, 2017, 04:17 PM
SubPrime Auto Finance News Staff
Andrew Stuart, president and chief executive officer of TD Auto Finance, was among three recipients of a 2017 American Financial Services Association Distinguished Service Award (DSA) during AFSA’s 101st annual meeting. The other two executives given the association’s highest honor ... [Read More]
PointPredictive hosts roundtable to curtail auto-finance fraud
Friday, Nov. 3, 2017, 03:30 PM
SubPrime Auto Finance News Staff
The fight against fraud in auto finance continued last week. PointPredictive held its second Auto Lending Fraud Roundtable last week in Dallas with finance companies representing 48 percent of total automotive originations in the U.S. They met to further collaborate ... [Read More]
Trump’s signature nullifies CFPB arbitration rule
Friday, Nov. 3, 2017, 03:29 PM
Nick Zulovich, Senior Editor
President Trump followed through this week by signing H.J. Res. 111, which nullifies the Consumer Financial Protection Bureau's rule prohibiting the use of a pre-dispute arbitration agreement to prevent a consumer from filing or participating in certain class action suits. ... [Read More]
Black Book releases economic scenario-based residuals data tool
Thursday, Nov. 2, 2017, 02:15 PM
SubPrime Auto Finance News Staff
Black Book rolled out a new solution on Wednesday meant to mitigate the stress — perceived and actual — that lease providers might have about residual values. Black Book release its new economic scenario-based residuals that’s now available to finance ... [Read More]