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
13 industry groups & DOJ file briefs in CFPB constitutionality case
Monday, Mar. 20, 2017, 03:23 PM
SubPrime Auto Finance News Staff
The parade of legal developments leading toward the U.S. Court of Appeals for the District of Columbia Circuit rehearing an important case involving the Consumer Financial Protection Bureau has started in earnest. First, the American Financial Services Association, along with ... [Read More]
AUL outlines 3 components F&I training offering
Friday, Mar. 17, 2017, 02:40 PM
SubPrime Auto Finance News Staff
Warranty and vehicle service contract administrator AUL Corp. released its 2017 F&I training schedule on Thursday, marking the second year in a row the company is offering F&I training. AUL highlighted its training is designed to provide a tailored education ... [Read More]
Reynolds releases F&I libraries for Maine & Vermont
Friday, Mar. 17, 2017, 02:39 PM
SubPrime Auto Finance News Staff
Earlier this week, Reynolds and Reynolds announced the release of the Reynolds LAW Maine F&I Library, just a short while after the firm unveiled a similar product for a neighboring state with the rollout of the Reynolds LAW Vermont F&I ... [Read More]
Where interest rates could be by end of 2019
Thursday, Mar. 16, 2017, 01:40 PM
SubPrime Auto Finance News Staff
With the federal funds rate ticking up by 0.25 percent to 1 percent as widely expected on Wednesday, Federal Reserve chair Janet Yellen also described the expected median path for the federal funds rate through the close of 2019, which ... [Read More]
Westlake describes benefits of leveraging DRN’s vehicle location data and analytics
Wednesday, Mar. 15, 2017, 02:29 PM
SubPrime Auto Finance News Staff
Digital Recognition Network (DRN) recently embedded DRNsights, powered by vehicle location data plus analytics, into Westlake Financial’s servicing platform to manage risk and reduce losses. The companies shared that Westlake’s recent monthly performance report showed DRN’s data assisted Westlake with ... [Read More]
UPDATED: Sage Automotive Group, FTC settle for $3.6M
Tuesday, Mar. 14, 2017, 07:29 PM
SubPrime Auto Finance News Staff
The Federal Trade Commission announced on Tuesday that the Sage Automotive Group — which includes nine Los Angeles-based dealerships, its holding and management companies and two individuals — has agreed to pay more than $3.6 million in order to settle ... [Read More]
Payix launches mobile collections app and payment processing solutions
Tuesday, Mar. 14, 2017, 02:06 PM
Nick Zulovich, Senior Editor
Payix co-founders Chris Chestnut and Preston Cecil sat in Chestnut’s home a little more than a year ago. The pair had worked together at Innovate Auto Finance, a North Texas company that specializes in purchasing auto portfolios of all sizes ... [Read More]
How ‘fairly stable consumers’ could impact subprime
Monday, Mar. 13, 2017, 03:37 PM
Nick Zulovich, Senior Editor
Certain macroeconomic trends — especially employment and consumer confidence — prompted Santander Consumer USA president and chief executive officer Jason Kulas to say that he sees a “fairly stable consumer” after he examined the finance company’s portfolio as well as ... [Read More]
GWC Warranty rolls out free compliance training for top dealer clients
Monday, Mar. 13, 2017, 03:35 PM
SubPrime Auto Finance News Staff
Used-vehicle service contract and related finance and insurance products provider GWC Warranty introduced a new exclusive benefit for its top dealers. Members of the WealthBuilder and Elite Dealer Programs now have access to free, online, on-demand compliance training. Through GWC ... [Read More]
Del Mar Recovery Solutions & MBSi broaden partnership
Friday, Mar. 10, 2017, 04:20 PM
SubPrime Auto Finance News Staff
This week, repossession services provider Del Mar Recovery Solutions announced that the company expanded its partnership with MBSi Corp. to encompass MBSi’s new suite of products. For the past several years, Del Mar Recovery Solutions has utilized MBSi’s iRepo platform ... [Read More]