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
CFPB’s 7 principles for consumer-authorized financial data sharing and aggregation
Wednesday, Nov. 1, 2017, 02:35 PM
SubPrime Auto Finance News Staff
The Consumer Financial Protection Bureau recently offered its assessment regarding a potential information path auto finance company collectors and recovery professionals might use during the skip-tracing process to mitigate delinquencies and potential charge-offs. The CFPB outlined seven principles for when ... [Read More]
GWC Warranty promotes manager to VP post
Wednesday, Nov. 1, 2017, 02:31 PM
SubPrime Auto Finance News Staff
GWC Warranty, a provider of used-vehicle service contracts and related F&I products sold through dealers, recently promoted Cynthia Bodden to the position of area vice president of sales for the company’s Mid-Atlantic region. In her role, the company highlighted that ... [Read More]
Sword Apak elevates exec to global sales manager
Wednesday, Nov. 1, 2017, 02:29 PM
SubPrime Auto Finance News Staff
Sword Apak, which provides financial systems to the global asset finance and banking sectors, recently appointed Kris Turner to head up its expanding global sales efforts, where momentum has seen the company’s interest expand across the United States, Europe and ... [Read More]
Nearly 60 percent of GM Financial’s Q3 originations fell within prime
Tuesday, Oct. 31, 2017, 02:35 PM
Nick Zulovich, Senior Editor
In the words of General Motors Financial president and chief executive officer Dan Berce, the paper the captive is adding “continues to skew to more prime originations.” Berce made his latest proclamation when GM Financial shared its third-quarter results, which ... [Read More]
CPS on originations pace to run ‘very stable company’
Monday, Oct. 30, 2017, 03:03 PM
Nick Zulovich, Senior Editor
Some finance companies might see success as the more originations, the better. That’s not quite the case at Consumer Portfolio Services as a strategy chairman and chief executive officer Brad Bradley thought would be successful during the worst part of ... [Read More]
Latest securitizations by Credit Acceptance and CPS approach $550 million
Friday, Oct. 27, 2017, 02:20 PM
SubPrime Auto Finance News Staff
Credit Acceptance and Consumer Portfolio Services each pushed out securitizations recently, and the combined total offered by the auto finance companies that specialize in subprime paper reached nearly $550 million. The larger of the two developments was from Credit Acceptance, ... [Read More]
GrooveCar brings on 25 new credit union partners in Q3
Friday, Oct. 27, 2017, 02:07 PM
SubPrime Auto Finance News Staff
More than 300,000 additional credit union members might be using GrooveCar’s platform to make a vehicle purchase. The buying resource enjoyed another busy quarter and signed up 25 new partners in Q3. “GrooveCar puts the platform in the hands of ... [Read More]
PwC to present picture of how robotic technology could impact auto finance
Thursday, Oct. 26, 2017, 03:34 PM
Nick Zulovich, Senior Editor
Craig Schleicher of PwC sees robotic features having a much greater presence in auto finance in the not-so-distant future. No, C-3PO and R2-D2 from Star Wars likely aren’t taking over underwriting and servicing vehicle installment contracts, but the manager of consumer ... [Read More]
UPDATED: Pence’s tiebreaking Senate vote halts CFPB’s arbitration rule
Wednesday, Oct. 25, 2017, 12:15 PM
Nick Zulovich, Senior Editor
While the agency director expressed his disappointment, dealerships and auto finance companies can breathe a big sigh of relief; Congress has stopped the Consumer Financial Protection Bureau’s arbitration rule. With Vice President Pence casting the deciding vote late on Tuesday ... [Read More]
FactorTrust rolls out credit monitoring solution
Wednesday, Oct. 25, 2017, 12:20 AM
SubPrime Auto Finance News Staff
Your customers now have another option to watch for activity associated with their credit file. On Tuesday, Used Car Week sponsor FactorTrust launched what’s being dubbed FactorTrust Credit Monitoring, a service that can observe activity within the FactorTrust credit file. ... [Read More]