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TAG SEARCH RESULT: auto finance

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December 2, 2014

Manheim Adds Experienced Executive to Leadership Team

Manheim selected Shane O’Dell to serve as senior vice president of wholesale service, a new role within the company. O’Dell has worked in the vehicle finance industry since 1995.

November 20, 2014

CFPB Needs a New 'Tool,’ Study Finds

F&I and Showroom delves into a new study commissioned by the American Financial Services Association. It concludes that the CFPB’s use of the BISG proxy method is “conceptually flawed” and could lead to overstatement of alleged harm to consumers.

October 14, 2014

Comment Period Opens for CFPB’s New Rule

The CFPB published its proposal rule to oversee larger participants in the nonbank auto finance segment in the Federal Register last week, kicking off a 60-day public comment period that ends on Dec. 8.

January 28, 2014

700 Credit, Equifax Partner on Income and Employment Verification Solution

The two firms have partnered on a new solution for dealers that is designed to resolve “stips” raised by their finance sources, allowing them to instantly verify income and employment information.

December 5, 2013

Experian: Auto Loan Interest Rates Fall to All-Time Low

According to the latest report from Experian Automotive, interest rates for auto loans fell to an all-time low in the third quarter, while the average amount financed reached its highest level since 2008.

October 24, 2013

OnPoint Drops Buy-Back Requirement

Buy-here, pay-here auto financing company OnPoint launched a new lending program, 30/30, which eliminates the buy-back requirement on repossessed vehicles.

October 22, 2013

A New Band: GAP Trends

Four-tier GAP programs are gaining traction thanks to current auto finance trends, and dealers who have adopted the pricing structure say they’re leaving less money on the table as a result.

October 1, 2013

Modesto Dealers Sentenced to Prison for Bank Fraud

Two brothers who owned and operated several California dealerships were sentenced to more than four years in prison and ordered to pay more than $600,000 in restitution for conspiring to commit bank fraud.

September 26, 2013

Huntington Expands Dealer Finance Business in Iowa

The bank holding company has hired a seasoned team with knowledge of the Iowa market to lead its expansion, company officials report.

August 22, 2013 Rhode Island Tops 10 Worst States for Financing a New Car released this week its “10 Worst States for Financing a New Car” list. In the Top 5 were Rhode Island, New Jersey, Massachusetts and Louisiana.