Former United Auto Credit & Westlake executive becomes SAFCO’s new chief risk officer
Tuesday, Nov. 26, 2024, 11:21 AM
Cox Automotive sells off another F&I tool as Vitu to acquire Dealertrack’s titling division
Monday, Nov. 25, 2024, 11:39 AM
CFPB examines carveouts in state data privacy laws for financial institutions
Monday, Nov. 25, 2024, 12:03 PM
Credit Acceptance responds to suit by CFPB & NY AG
Thursday, Jan. 5, 2023, 03:33 PM
Nick Zulovich, Senior Editor
Credit Acceptance responded to a robust lawsuit brought by the Consumer Financial Protection Bureau and the New York attorney general on Wednesday triggered by an investigation that began in May 2019. New York attorney general Letitia James and the CFPB said ... [Read More]
Edmunds Q4 data on $1K monthly payments & negative equity
Wednesday, Jan. 4, 2023, 04:11 PM
SubPrime Auto Finance News Staff
Edmunds’ newest auto finance data not only showed the growing share of consumers paying at least $1,000 per month for either a new or a used vehicle, experts also cautioned that they “are only seeing the tip of the negative ... [Read More]
APCO Holdings acquires National Auto Care
Tuesday, Jan. 3, 2023, 03:17 PM
SubPrime Auto Finance News Staff
The new year began with major developments in the F&I space. APCO Holdings, a leading provider and administrator of automotive F&I products and home to the EasyCare and GWC Warranty brands, announced it has acquired National Auto Care (NAC) through ... [Read More]
Fitch & KBRA see more positive signs within current & future auto ABS performance
Friday, Dec. 16, 2022, 02:42 PM
SubPrime Auto Finance News Staff
This week, Fitch Ratings and Kroll Bond Rating Agency (KBRA) offered their latest analysis of recent and potential future auto finance performance based on securitizations, with Fitch seeing the possibility of the subprime segment remaining “resilient,” while KBRA is anticipating ... [Read More]
TurboPass honors 6 dealers
Friday, Dec. 16, 2022, 02:36 PM
SubPrime Auto Finance News Staff
On Thursday, TurboPass awarded six of its subscribing dealerships with an End of the Year Award, including honors for Independent Dealer of the Year, Franchise Dealer of the Year Newcomer of the Year Both the East and West regions of ... [Read More]
With another 50 basis-point interest rate rise, US economy could be near ‘terminal’ point
Thursday, Dec. 15, 2022, 04:26 PM
SubPrime Auto Finance News Staff
With another lift of 50 basis points on Wednesday, the Federal Reserve now has pushed the federal funds rate higher by 425 basis points this year to the 4.25% to 4.50% range. While Federal Reserve chair Jerome Powell emphasized the ... [Read More]
TransUnion 2023 forecast: Auto finance on surer footing than credit cards & personal loans
Wednesday, Dec. 14, 2022, 04:24 PM
SubPrime Auto Finance News Staff
Auto finance appears to be in a much better state than credit cards and personal loans based on TransUnion’s 2023 Consumer Credit Forecast released on Wednesday. While experts are expecting delinquency rates for credit card and personal loans to rise ... [Read More]
PODCAST: Discussion with the Women in Collections & Recoveries honorees
Wednesday, Dec. 14, 2022, 04:17 PM
SubPrime Auto Finance News Staff
This special episode of the Auto Remarketing Podcast was recorded during Used Car Week and features the Women in Collections & Recoveries honorees who were able to make the trip to San Diego in November. The panel discussion moderated by ... [Read More]
Subprime auto ABS ratings examined in 3 stressed scenarios
Monday, Dec. 12, 2022, 03:11 PM
SubPrime Auto Finance News Staff
S&P Global Ratings went to its investment research laboratory recently because market participants have become increasingly concerned about subprime auto ABS given that the economy may be on the precipice of a recession wherein unemployment levels would likely rise and ... [Read More]
Location Services adds 8 executives to senior leadership team
Friday, Dec. 9, 2022, 03:31 PM
SubPrime Auto Finance News Staff
Location Services recently hired eight executives in a wide array of specialties to help strengthen the senior leadership team of the recovery management and loss mitigation service company. Bringing 10 to 20 years of experience with them in some instances, ... [Read More]