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TAG SEARCH RESULT: GAP

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August 30, 2018

GAP Suffers Another Setback

The editor reveals the truth behind an NPR report critical of the industry’s efforts to undo the Military Lending Act guidance that put the brakes on GAP sales.

July 3, 2018

Sales in the Blink of an Eye

Blinker’s P2P ecommerce technology isn’t designed to pose a threat to car dealers. In fact, the company could be working with manufacturers and dealerships in the near future.

April 17, 2018

Wells Fargo Faces $1 Billion Fine for Mortgage and Auto Insurance Issues

Wells Fargo’s first-quarter earnings call was staged amid a string of regulatory concerns, declining auto originations, and the sale of a Puerto Rican subsidiary. But the company’s chief executive said the bank’s auto finance business will grow again.

March 5, 2018

CNA National Distributed More Than $41M to Dealers in 2017

This was the third consecutive year the F&I product provider paid out more than $40 million to its dealers through its various participation programs.

February 22, 2018

Military Lending Act's December Update More Harmful Than First Thought

A Hudson Cook attorney told industry trade groups in a Jan. 18 memo that the Defense Department’s Dec. 14 interpretative rule, combined with something else it did in July 2015, makes it ‘highly unlikely that any dealer or finance source will be willing to originate or purchase’ a vehicle finance transaction if credit-protection products are included.

February 9, 2018

[Video] Selling to Short-Term Owners

The magazine’s F&I pro responds to a question about how to build value in F&I protections if the customer says he plans on paying off his loan long before the term expires.

February 6, 2018

Resolution Needed

The editor shares some insider information regarding the industry’s efforts to get the Defense Department to reconsider last month’s interpretive rule regarding the sale of GAP and credit insurance to military consumers.

January 23, 2018

Darwin Updates F&I Platform to Address Military Lending Act Rules

Darwin today announced a new update to its F&I sales platform designed to address the interpretive rule the Defense Department issued last month under the MLA.

December 20, 2017

UPDATED: Core F&I Product Could Put Some Auto Finance Deals Under Military Lending Act’s Requirements

Based on an interpretive rule issued by the Defense Department on Dec. 14, including credit-protection products like GAP in a servicemember’s vehicle finance contract could subject it to a slew of restrictions and requirements under the Military Lending Act (MLA).

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.

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