Fitch Ratings pointed to three reasons why delinquencies on U.S. subprime auto ABS have eclipsed 2009 recessionary levels and are now at a level not seen in nearly two decades. On Monday, analysts indicated subprime delinquencies of 60 days or ... [Read More]

Along with the renewal of an $11 billion credit facility, Ally Financial recently announced that it has commenced a consent solicitation from holders of record of its 8.000 percent notes due 2031. The move is being made to terminate the ... [Read More]

After spending part of this week in Phoenix at the annual conference hosted by the Consumer Bankers Association, Consumer Financial Protection Bureau director Richard Cordray will be back on Capitol Hill on Wednesday for his next appearance in front of ... [Read More]

Less than a month after announcing an investment by CUNA Mutual Group, direct-to-consumer auto loan platform SpringboardAuto.com formed a partnership this week to enhance its position in the credit union space. SpringboardAuto.com created a relationship with MeridianLink — the developer ... [Read More]

RSM partner Ronnie Lee and his accounting team recently conducted research among specialty finance firms regarding fraud. After sharing some of the details of the company’s research findings, Lee also spelled out four ways finance company managers can deter and ... [Read More]

Digital Matrix Systems formalized an agreement on FactorTrust to provide DMS clients with access to FactorTrust’s alternative credit information and risk scores. The companies insisted the strongest risk management strategies in use at leading financial services, auto finance, and insurance ... [Read More]

In light of shoppers spending more time online searching and comparing vehicles, Trustmark Warranty launched a new consumer website this week in an effort to cater to customer’s buying potential beyond the dealership F&I office. The new website can allow ... [Read More]

While President Obama is convening a meeting on Monday with financial regulators to receive an update on the progress in “implementing Wall Street reform,” both the American Financial Services Association and the Consumer Bankers Association offered updates on the revision ... [Read More]

About 14 months ago, the merger of Flagship Credit Acceptance and CarFinance Capital became finalized, leaving Michael Ritter as the chief executive officer of the finance company that specializes in filling its portfolio with subprime paper. During that span, Flagship ... [Read More]

Experian Automotive determined that the average amount financed and the average monthly payment for a new vehicle continued to climb, breaking the previous records on file. According to its latest State of the Automotive Finance Market report released on Thursday, ... [Read More]