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
Munro charged with leading client growth at defi SOLUTIONS
Monday, Jul. 24, 2017, 03:12 PM
SubPrime Auto Finance News Staff
The management team at defi SOLUTIONS recently grew again with the addition of Glenn Munro as vice president of sales. Officials highlighted Munro was an early investor in the company as his foundational, insider knowledge of the defi SOLUTIONS’ history ... [Read More]
3 new features of GrooveCar’s vehicle-buying platform
Monday, Jul. 24, 2017, 03:11 PM
SubPrime Auto Finance News Staff
GrooveCar added three new features to its vehicle-buying platform for credit unions; enhancements the company says are designed to continue to support the platform’s mission of boosting credit union engagement and lead generation. The highly responsive design has made the ... [Read More]
SCUSA refutes claims made in union-led report
Friday, Jul. 21, 2017, 07:20 PM
Nick Zulovich, Senior Editor
Stemming from an effort to unionize workers, Santander Consumer USA on Friday afternoon vehemently refuted claims contained in a report distributed by the AFL-CIO, National Employment Law Project and Committee for Better Banks about how the finance company’s collections department ... [Read More]
Republicans out to stop CFPB arbitration rule
Friday, Jul. 21, 2017, 02:51 PM
Nick Zulovich, Senior Editor
House and Senate lawmakers wasted little time in using Congressional Review Act (CRA) authority to start an effort to stop the Consumer Financial Protection Bureau’s final rule prohibiting the use of class action waivers in arbitration clauses. The CRA permits ... [Read More]
Great Recession repeat not expected as payment performance likely softens
Friday, Jul. 21, 2017, 02:43 PM
Nick Zulovich, Senior Editor
As experts and policymakers shared a variety of economic trend updates and observations, Fitch Ratings summarized that record-setting payment performance isn’t likely to simply last forever. But at the same time, Fitch reiterated that deterioration of auto finance performance — ... [Read More]
Survey shows strong support for ‘futuristic’ payment technologies
Thursday, Jul. 20, 2017, 01:52 PM
SubPrime Auto Finance News Staff
How contract holders in your auto finance portfolio make future payments continues to be an evolving topic, as a recent survey conducted by Viewpost showed. Viewpost, a network for invoicing, payments and cash management, produced a survey of American consumers ... [Read More]
New arbitration rule now on path to be in effect in September
Wednesday, Jul. 19, 2017, 03:10 PM
Nick Zulovich, Senior Editor
Well, the clock now is officially running with regard to the Consumer Financial Protection Bureau’s final rule prohibiting the use of class action waivers in arbitration clauses. The rule appeared in the Federal Register on Wednesday, meaning that barring a ... [Read More]
4 more enhancements to GWC Warranty’s Dealer Portal
Wednesday, Jul. 19, 2017, 03:05 PM
SubPrime Auto Finance News Staff
Used-vehicle service contract and related finance and insurance product provider GWC Warranty has released Dealer Portal 2.1 — the latest batch of enhancements to GWC’s online dealer resource center. The company highlighted Dealer Portal 2.1 contains a series of new ... [Read More]
ACA International elects 2017-2018 board of directors and officers
Wednesday, Jul. 19, 2017, 03:04 PM
SubPrime Auto Finance News Staff
ACA International elected its new 2017-2018 board of directors and officers this past week as part of the 2017 Convention & Expo in Seattle. New members joining the board for three-year terms are: • Albert Cadena, president and chief executive ... [Read More]
June auto default rate sets 10-year low
Tuesday, Jul. 18, 2017, 03:25 PM
SubPrime Auto Finance News Staff
Perhaps the auto loan component of the S&P/Experian Consumer Credit Default Indices is becoming a game of “how low can you go?” A month after the rate tied a 10-year low, S&P Dow Jones Indices and Experian released data through ... [Read More]