New ValidiFI report reinforces importance of spotting high-risk indicators of ACH transactions
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LegalShield: Spiking consumer financial stress 'not a fluke'
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BHPH Dealers Outline Best Practices
Thursday, May. 14, 2009, 12:00 AM
Nick Zulovich
LAS VEGAS — One of the most popular panels Wednesday consisted of five dealers who shared some of their best practices with the audience at the National Alliance of Buy-Here, Pay-Here Dealers conference. The dealer panel included Blake Ingram, of Auto ... [Read More]
Fed: Interest Rates for Auto Finance Companies Drop to Record Low
Thursday, May. 14, 2009, 12:00 AM
Nick Zulovich
WASHINGTON, D.C. — The average interest rate on new-vehicle loans at auto finance companies continues to plummet, as it hit an all-time low for the second straight month, the Federal Reserve recently announced. At 2.74 percent, this latest interest rate is down ... [Read More]
Comerica Bank: Auto Affordability Shows Improvement
Thursday, May. 14, 2009, 12:00 AM
Nick Zulovich
DALLAS — Although median family income continued on a downward slope in the first quarter, the total cost to buy and finance a new vehicle dropped at a much steeper pace, thanks largely to sharp declines in interest rates, according to Comerica ... [Read More]
Floor Planners Talk Business Trends
Thursday, May. 14, 2009, 12:00 AM
Nick Zulovich
LAS VEGAS — Executives representing various floor planners and financial institutions gathered on Wednesday to talk about how the industry is faring. Just what did they say? Taking the stage at the National Alliance of Buy-Here, Pay-Here Dealers conference was Scott ... [Read More]
First Advantage CREDCO Enhances Red Flag Solution
Thursday, May. 14, 2009, 12:00 AM
Nick Zulovich
POWAY, Calif. — First Advantage CREDCO introduced a new component to its Red Flag Solution that provides dealers with an automated means to draft, rollout, train and report on their identify theft programs required under the new Red Flags Rule. Red Flag ... [Read More]
RouteOne Integrates with VertiSEL; Accesses Credit-Improvement Solution
Thursday, May. 14, 2009, 12:00 AM
Nick Zulovich
FARMINGTON HILLS, Mich. — RouteOne announced Tuesday that it has completed integration with VertiSEL, a company that offers programs to consumers who have had difficulties during the auto-financing process due to lack of credit access. Essentially, this integration will allow RouteOne dealers to ... [Read More]
Webb: Recession to Likely End by Q3
Wednesday, May. 13, 2009, 12:00 AM
Nick Zulovich
LAS VEGAS — Tom Webb had some positive news to share at the National Alliance of Buy-Here, Pay-Here Dealers conference Tuesday. Manheim's chief economist said he is seeing some improvement in the near future in the labor sector, which coupled with ... [Read More]
Experienced Recovery Professional Offers Tip to Reduce Losses
Wednesday, May. 13, 2009, 12:00 AM
Nick Zulovich
LAS VEGAS — One of the speakers to generate a lot of audience interest Tuesday at the National Alliance of Buy-Here, Pay-Here Dealers conference was Ron Brown, general manager of CSI Group. His company is one of the oldest and largest ... [Read More]
GMAC Says it Will Boost Tier 1 Capital
Tuesday, May. 12, 2009, 12:00 AM
Nick Zulovich
NEW YORK — On Monday, GMAC Financial Services confirmed capital requirements resulting from the Federal Reserve's Supervisory Capital Assessment Program. Basically, as part of this program, GMAC said by Nov. 9, it plans to increase the common shareholder equity component of ... [Read More]
Hudson: Consumer Credit Fairness Act Could Hurt Industry
Tuesday, May. 12, 2009, 12:00 AM
Nick Zulovich
HANOVER, Md. — A bill currently being considered by the U.S. Senate Judiciary Committee could prove to be harmful for subprime auto financing and for used-vehicle dealers, and the industry should be aware of its potentially "dangerous" impact, according to Tom Hudson, an attorney ... [Read More]