Report Finds Open, Transparent Process Is Most Successful for CFPB
Wednesday, Sep. 25, 2013, 12:00 AM
Nick Zulovich
WASHINGTON, D.C. — As the agency's director reinforced the use of disparate impact to check for discrimination, a new report by the Bipartisan Policy Center's Financial Regulatory Reform Initiative includes several recommendations for the Consumer Financial Protection Bureau and Congress ... [Read More]
Dealertrack Technologies to Buy VINtek, Names Head of Canadian Operations
Wednesday, Sep. 25, 2013, 12:00 AM
Nick Zulovich
LAKE SUCCESS, N.Y., and MISSISSAUGA, Ontario — Along with revealing who is going to oversee its Canadian operation, Dealertrack Technologies entered an agreement to purchase VINtek, a provider of automotive collateral management, electronic lien and title and consumer automotive finance ... [Read More]
Huntington Broadens Auto Dealer Financing Business into Iowa
Wednesday, Sep. 25, 2013, 12:00 AM
Nick Zulovich
COLUMBUS, Ohio — Huntington announced this morning that it is expanding its growing auto dealer financing business into Iowa and added key personnel into the state to support the initiative. "Huntington Auto Finance continues to expand its auto finance business ... [Read More]
TransUnion Explains How Managed Delinquencies Can Help Auto Lending
Monday, Sep. 23, 2013, 12:00 AM
Nick Zulovich
CHICAGO — A new TransUnion study found consumers are still more likely to pay their auto loans ahead of their mortgages and credit cards. But what if consumers started to waver on keeping up with their vehicle notes and delinquencies ... [Read More]
Shilson: Getting Your Best BHPH Customers Back
Monday, Sep. 23, 2013, 12:00 AM
Nick Zulovich
HOUSTON — The first half of 2013 is now in the rearview mirror for the buy-here, pay-here industry, and it's time to look back. Many operators reported lower unit sales versus the same period last year. Two important questions are, ... [Read More]
Report: 2 Captive Arms Being Examined for Possible Discrimination
Monday, Sep. 23, 2013, 12:00 AM
Nick Zulovich
WASHINGTON, D.C. — The Consumer Financial Protection Bureau and the Department of Justice are probing a pair of captive finance companies looking for the possibility of discrimination, according to a report by Bloomberg. The report indicated the two companies that ... [Read More]
DriveTime Expands Again in Florida
Monday, Sep. 23, 2013, 12:00 AM
Nick Zulovich
PHOENIX — DriveTime Automotive Group continued its expansion as the chain that specializes in selling vehicles to deep subprime buyers has opened two new stores this month and a total of 10 so far this year. The newest location to ... [Read More]
Three Routes To Big Improvements Within Your Collections & Recovery Departments
Friday, Sep. 20, 2013, 12:00 AM
Nick Zulovich
CARY, N.C. — When gathered amongst themselves, sometimes dealers and finance company executives who specialize in working with customers with checkered credit pasts say they're not in the car business — they're in the collections business. "If you have a ... [Read More]
Despite Subprime Approvals Cooling Slightly, 4-Percent Rise in Used Sales Likely
Friday, Sep. 20, 2013, 12:00 AM
Nick Zulovich
BANDON, Ore. — Despite financing approvals for subprime borrowers edging slightly lower so far this month, overall used-vehicle sales this month are on pace to beat last September's total by more than 4 percent. No matter the financing trends, there ... [Read More]
Swapalease.com: Credit Approvals Edge Lower in August
Friday, Sep. 20, 2013, 12:00 AM
Nick Zulovich
CINCINNATI — Swapalease.com reported a slight drop-off in year-to-date credit approval trends for August compared with July. The site determined the average customer credit approval rate at the end of August was 74.5 percent, down slightly from 75.6 percent at ... [Read More]