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August 23, 2018

Senate Committee Narrowly Confirms Trump's Pick to Head BCFP

The U.S. Senate Banking Committee narrowly approved the nomination of Kathy Kraninger to head the Bureau of Consumer Financial Protection. The vote sends her nomination to the full Senate for consideration.

August 13, 2018

J.D. Power: Lender Availability, Responsiveness Drive Satisfaction

Big winners in the firm’s 2018 U.S Dealer Financing Satisfaction Study include Mercedes-Benz Financial Services in the Captive Luxury Segment, Volkswagen Credit in the Captive Mass Market segment, Citizens One Auto Finance in the Noncaptive category, and TD Auto Finance in Floorplan.

August 9, 2018

Equifax: Subprime Pullback Continued in Q1

Subprime originations fell 4.5% from a year ago to 1.841 million in the first quarter, a period in which total outstanding balances topped a quarter trillion, the firm reported.

August 6, 2018

The CFPB’s Spirit Lives On

Attorney Eric Johnson fields questions about the state of the CFPB, the now fully staffed FTC, and the aggressive stance of state attorneys general. He also offers a critical update on the Military Lending Act.

August 2, 2018

FTC Charges Arizona Group With Falsifying Incomes on Consumer Credit Apps

According to the regulator, this was the FTC’s first action alleging income falsification by dealerships. Charged are the owners of Tate’s Auto Group, which operates four dealerships in Arizona and New Mexico, near the border of the Navajo Nation.

July 26, 2018

Wells Fargo to Begin Growing Auto Loan Portfolio by Mid-2019

Wells Fargo's continued runoff of its auto loan portfolio resulted in a $10.3 billion year-over-year decline in auto loan balances in the second quarter, but executives said the bank is positioned to begin growing its auto finance business once again.

July 9, 2018

CFPB Official Who Sued Trump Resigns, Drops Suit

The CFPB official who went to court last year after Trump appointed Mick Mulvaney as acting director announced on Friday she is leaving the embattled regulator. In a tweet, her attorney said the CFPB official is also dropping her legal fight to be the regulator's acting director.

July 9, 2018

AFS Renamed Credito Real USA, Poised to Expand

AFS Acceptance has officially been renamed Credito Real USA, two years after being acquired by Mexico’s Credito Real and on the eve of a planned market expansion.

July 3, 2018

F&I’s Need for Nobility

With 78% of Americans living paycheck to paycheck, F&I insider says it’s time for F&I producers to change their approach.

July 3, 2018

Moving F&I Online

Dealer software expert makes the case for following your customers online and adopting a fully digital transaction.