Survey: 27% of consumers do not review their credit report annually
Wednesday, Oct. 2, 2024, 10:57 AM
Edmunds: Average amount financed for used cars drops in Q3
Tuesday, Oct. 1, 2024, 10:00 AM
FTC reiterates use of ‘plain language’ associated with regulatory activities
Monday, Sep. 30, 2024, 11:35 AM
FTC Launches Narrow Investigation into Dealer Practices
Thursday, Dec. 2, 2010, 12:00 AM
Nick Zulovich
WASHINGTON, D.C. — SubPrime Auto Finance News learned this week that buy-here, pay-here dealers throughout the nation are randomly being tapped by the Federal Trade Commission to provide copies of their contracts for the last year. This move is a part ... [Read More]
ABI Reveals Bankruptcy Trends
Tuesday, Nov. 30, 2010, 12:00 AM
Nick Zulovich
ALEXANDRIA, Va. — According to an upcoming ABI Journal article about consumers who filed for bankruptcy last year, researchers found that the majority of filers were Caucasian, married, employed, between the ages of 35 and 54, had at least a high ... [Read More]
Crescent Bank & Trust to Integrate with Open Dealer Exchange
Tuesday, Nov. 30, 2010, 12:00 AM
Nick Zulovich
TROY, Mich. — Open Dealer Exchange announced this week that Crescent Bank & Trust will integrate directly into the dealer management system to enhance the loan approval process. Headquartered in New Orleans, CB&T is a leading indirect subprime lender that does ... [Read More]
SNAAC Names New President
Tuesday, Nov. 30, 2010, 12:00 AM
Nick Zulovich
CINCINNATI — Security National Automotive Acceptance Corp. recently announced its chief operating officer has a new role with the company. The company elevated Brian McDonald to president. He now reports to Becky and Ted Catino, co-chief executive officers of SNAAC. In ... [Read More]
Fitch Says Auto ABS Performance Particularly Strong for This Time of Year
Tuesday, Nov. 30, 2010, 12:00 AM
Nick Zulovich
NEW YORK — Thanks in large part to unprecedented seasonal strength in the used-vehicle market, Fitch Ratings reported that both prime and subprime auto loan asset-backed securities showed delinquency improvements in October. Another factor helping to push the drops in delinquencies ... [Read More]
Car-Mart Shows Solid 2Q Results, but CEO Predicts Even More Potential for Growth
Tuesday, Nov. 23, 2010, 12:00 AM
Nick Zulovich
BENTONVILLE, Ark. — In addition to announcing a new credit facility, America's Car-Mart revealed this week that second quarter net income, revenue and retail sales climbed thanks in large part to its customer base growing above 49,000 in the second quarter. ... [Read More]
ABA Rolls Out Financial Reform Tracking Site
Tuesday, Nov. 23, 2010, 12:00 AM
Nick Zulovich
WASHINGTON, D.C. — Since so much policy associated with financial reform has yet to be spelled out by federal regulators, the American Bankers Association recently launched a new online resource aimed at keeping members up to date. The association explained the ... [Read More]
Subprime Approvals Continue to Creep Higher
Tuesday, Nov. 23, 2010, 12:00 AM
Nick Zulovich
BANDON, Ore. — Subprime new-loan approvals have now shown four months of increases, according to CNW Research. For October, 7.6 percent of subprime loan applications were approved, up from 6.9 percent in September and 5.7 percent in October 2009. "While still ... [Read More]
Ally Launches Wholesale Financing for Recreational Vehicles
Tuesday, Nov. 23, 2010, 12:00 AM
Nick Zulovich
DETROIT — Ally Financial announced Tuesday that it is offering a national program for wholesale financing for RV dealer inventory, enhancing its preferred provider relationship with Thor Industries. Thor has about 1,200 dealers selling such brands as Airstream, Breckenridge, CrossRoads, Dutchmen, ... [Read More]
Top Auto Finance Execs to Lead Panel at AFSA Conference
Thursday, Nov. 18, 2010, 12:00 AM
Nick Zulovich
WASHINGTON, D.C. — Leading executives with four auto finance companies will come together during the American Financial Services Association's 15th Annual Vehicle Finance Conference and Exposition early next year for a panel discussion that will delve into how these leaders and ... [Read More]