GrooveCar recently highlighted that its auto leasing program for credit unions, CU Xpress Lease, produced a 39-percent year-over-year volume increase during the first quarter. The growth comes after CU Xpress Lease funded nearly $1 billion in lease volume for 2016. ... [Read More]

Leaders from defi SOLUTIONS and eOriginal are looking for the auto finance industry to take another significant evolutionary step. Just like when participants moved away from using fax machines to complete applications, Georgine Muntz and Theodore Papilliou want finance companies ... [Read More]

Westlake Financial Services now possesses a significantly larger investment footprint, as on Thursday the company announced the acquisition of Credit Union Leasing of America (CULA), headquartered in San Diego. The company highlighted the purchase of CULA raised Westlake’s total managed ... [Read More]

As was widely anticipated, members of the Federal Open Market Committee at the Federal Reserve chose to raise the target range for the federal funds rate from 1 percent to 1.25 percent on Wednesday. While the vote to raise the ... [Read More]

A debt collection expert explained the importance of the rule-making pivot the Consumer Financial Protection Bureau evidently is making when it comes to finance companies and other credit providers looking to collect from consumers who defaulted. CFPB director Richard Cordray ... [Read More]

Coming off of a fiscal year where its net earnings dropped but still surpassed $5 million, Nicholas Financial this week announced the retirement of Ralph Finkenbrink as the subprime auto finance company’s president and chief executive officer for personal reasons. Nicholas ... [Read More]

Coming on the heels of the U.S. House of Representatives passing H.R. 10, the Financial CHOICE Act, in an effort to modify the Consumer Financial Protection Bureau among other objectives, the U.S. Department of the Treasury late on Monday issued its ... [Read More]

S&P Global Ratings reported that collateral performance in the U.S. prime and subprime auto loan asset-backed securities (ABS) sectors was mixed in April relative to March. Analysts indicated that while losses and recoveries continued to show seasonal improvement on a ... [Read More]

FactorTrust recently finalized an innovative partnership with GOLDPoint Systems to integrate alternative credit data and scores into the online finance company’s originating, servicing and reporting processes, thereby enabling GOLDPoint’s lending clients to get a complete overview of creditworthy borrowers. GOLDPoint ... [Read More]

Change seems to be always in the air in the auto finance space. Finance companies are adjusting underwriting to mitigate risk, maintain origination growth and watch for delinquency rises. Service providers are looking to improve their solutions while sustaining high ... [Read More]