BATON ROUGE, La. — In the all-important need to open up credit availability and get the economy moving again, Wolters Kluwer Financial Services announced it has gained a new financial institution to use its AppOne platform. The most recent lending facility to ... [Read More]

ALEXANDRIA, Va. — For the first time since 2005, bankruptcy filings jumped past the 1 million mark during the first three calendar quarters of a year, according to the American Bankruptcy Institute. Relying on data on from the National Bankruptcy Research ... [Read More]

SYRACUSE, N.Y. — XpressCredit today announced the hiring of a former AmeriCredit executive as director of lender development. Taking on this position is Rory Noske. Noske brings more than 18 years of experience, developing business relationships in the auto financial services ... [Read More]

LAKE SUCCESS, N.Y. — DealerTrack customers now have access to Red Flags Reporting. The Red Flags Rules are expected to be enforced starting Nov. 1.  The addition is designed to help dealers in providing an audit trail and ensuring employees are complying with the Red ... [Read More]

SARASOTA, Fla. — CarBiz recently announced that it has appointed a new chief operating officer, and the company also reported that its second-quarter earnings climbed significantly year-over-year. Named as COO was Paul Whitley, who was previously the director of finance for ... [Read More]

NEW YORK — Sixty-plus-day delinquency levels on U.S. prime auto loan ABS jumped 10.4 percent in August to 0.85 percent, which approached the 10-year record high set back in the first quarter, Fitch Ratings reported this week. The decade high is ... [Read More]

WASHINGTON, D.C. — Although overall consumer delinquencies reached a record mark during the second quarter, auto loans — both direct and indirect — showed significant improvement during the period, according to the American Bankers Association. Specifically, direct auto loan delinquencies dropped 55 basis ... [Read More]

DALLAS — Drive Financial rolled out its revamped finance program for dealers late last week, and some of the changes include restructured tiers and various provisions that give dealers greater flexibility in setting up deals for customers. To shed some light ... [Read More]

DES MOINES, Iowa — Wells Fargo Preferred Capital announced it has provided Automotive Credit Corp. with a senior credit facility worth $50 million. "Wells Fargo Preferred Capital's industry knowledge and expertise gives us great comfort as we enter into a relationship ... [Read More]

NEW YORK — While fears abounded about dealers' ability to pay floor planning, especially at General Motors and Chrysler, with sales being down so much historically, the early payment analysis is in. And largely, it is positive. According to DBRS, the ... [Read More]