Leasing: Another Subprime Growth Path to Consider
Wednesday, Sep. 24, 2014, 03:50 PM
Nick Zulovich, Editor
In a monthly-payment driven world, leasing is on the rise to points never seen before, especially for contracts connecting new vehicles and consumers with prime credit. But Swapalease.com executive vice president Scot Hall gave the industry a question to ponder. ... [Read More]
TFS Taps ChannelNet to Provide Communications Services
Monday, Sep. 22, 2014, 03:31 PM
SubPrime Auto Finance News Staff
Digital marketing, sales and service solution provider ChannelNet added another captive finance company to its list of clients as the company recently signed a new contract to provide Web-based customer lifecycle communications for Toyota Financial Services (TFS). The company’s software, ... [Read More]
Northwood University, EFG Companies Join Forces for Broad F&I Training Program
Monday, Sep. 22, 2014, 03:29 PM
SubPrime Auto Finance News Staff
Northwood University and EFG Companies recently formed a national partnership to drive what they’re calling a greater opportunity and development of tomorrow’s retail automotive leaders. Under this new agreement, EFG and Northwood University say they will “pave the way for ... [Read More]
Black Book: Watch Equity Trends as Loan Terms Stretch
Monday, Sep. 22, 2014, 03:25 PM
Nick Zulovich, Editor
Black Book isn’t just pitching its products and services to finance companies nowadays. Its analysts and staff are trying to emphasize to executives and managers who watch loan-to-value ratios and overall portfolio status about how much risk is building and ... [Read More]
Finance Company Notes: Latest ABS from CPS and Share Purchase by Credit Acceptance
Friday, Sep. 19, 2014, 03:40 PM
SubPrime Auto Finance News Staff
Both Credit Acceptance Corp. and Consumer Portfolio Services made financial announcements this week; one a tender offer to purchase its own shares of common stock and the other the closing of its third term securitization of the year. Starting with ... [Read More]
AFSA, NADA Defend Industry During Latest CFPB Field Hearing
Friday, Sep. 19, 2014, 03:31 PM
Nick Zulovich, Editor
The ongoing debate over how the F&I process should unfold inflamed again in the heart of the Midwest. As consumer advocates and attorneys made scathing accusations about unscrupulous activities that amounted to practices such as payment packing, yo-yo financing and ... [Read More]
Reynolds and OADA Partner to Unveil Ohio F&I Library
Friday, Sep. 19, 2014, 03:24 PM
SubPrime Auto Finance News Staff
Reynolds and Reynolds this week launched of the Reynolds LAW Ohio F&I Library, a comprehensive catalog of standardized, legally reviewed finance and insurance documents available to dealers in the Buckeye State. Officials highlighted the Reynolds LAW brand library of forms ... [Read More]
EXCLUSIVE: Hackett Analyzes CFPB’s 3 Latest Moves
Thursday, Sep. 18, 2014, 04:20 PM
Nick Zulovich, Editor
In an exclusive interview with SubPrime Auto Finance News, Hudson Cook partner and former assistant director at the Consumer Financial Protection Bureau Rick Hackett offered quick-hitting analysis of the three main segments of the CFPB’s latest moves in connection with ... [Read More]
CFPB Wants More Auto Oversight Authority
Thursday, Sep. 18, 2014, 03:18 AM
SubPrime Auto Finance News Staff
If a finance company makes, acquires, or refinances 10,000 or more vehicle loans or leases in a year, the Consumer Financial Protection Bureau is looking to become that operation’s primary regulator stemming from a proposal released late on Wednesday. The ... [Read More]
Hudson Cook Brings Another Former CFPB Official to Firm
Wednesday, Sep. 17, 2014, 03:47 PM
SubPrime Auto Finance News Staff
Hudson Cook bolstered its partner roster of former high-ranking enforcers who held roles at the Consumer Financial Protection Bureau and the Federal Trade Commission. This week, the law firm added Lucy Morris as a partner in its Washington, D.C. office. ... [Read More]