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December 13, 2017

TransUnion: Subprime Pullback to Continue in 2018

Replacement demand from hurricanes Harvey and Irma should provide a temporary boost in new-vehicle demand to open 2018, but TransUnion officials said consumers will shift toward the used-vehicle market as finance sources continue to tighten credit underwriting standards.

December 12, 2017

Ally Financial Names Successor to Retiring CFO Chris Halmy

With current CFO Chris Halmy set to retire on March 1, 2018, Ally Financial today announced that Jenn LaClair is joining the company as CFO designate, with the intent that she will be appointed to succeed Ally's retiring CFO.

December 12, 2017

Toyota Financial Announces Executive Leadership Appointments

The captive named Scott Cooks group vice president and chief risk officer and Cindy Wang group vice president of treasury.

December 7, 2017

Subprime Originations Hit Record Low in Q3

Subprime financing fell to its lowest point since 2012, while prime grabbed the lion’s share of the auto finance space in the third quarter. Even the used-vehicle market has gone prime, with buyers outside of prime accounting for just a third of the market.

December 6, 2017

GOA Says Congress Can Review CFPB’s Guidance on Dealer Participation

The Government Accountability Office said on Tuesday that the bureau’s March 2013 bulletin on dealer participation falls under the Congressional Review Act, a decision that clears the way for the Republican-controlled Congress to repeal the bureau’s controversial guidance.

December 5, 2017

Huntington Bank Promotes Rich Porrello to President

Rich Porrello has served as managing director of the bank’s auto finance organization since 2010, overseeing 180 associates serving nearly 4,500 dealerships across 23 states in the Midwest and New England. He retains those duties while assuming oversight of the business unit’s business strategy.

December 4, 2017

Perfect Storm

Industry Summit’s executive panel convened to discuss and debate the effects of Hurricane Harvey, the status of the used-car and subprime markets, the GM mandate, and the digitization of the F&I process.

December 4, 2017

REAL ID Has Arrived

January marks the first implementation deadline for the federal REAL ID Act. Compliance expert outlines the law, its requirements, and two potential issues facing dealers.

December 4, 2017

Rich Cordray’s Legacy and The Future of the CFPB

A former bureau official reflects on her time under former CFPB Director Richard Cordray, and explains why the industry shouldn’t be breathing a sigh of relief with his departure.

December 4, 2017

Love It or Leave It

His Madness is reminded that excelling at F&I requires true passion for the craft. He offers a few suggestions for staying focused and mentally sharp.