Gregory Arroyo
Editorial Director
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Delinquencies are rising and auto finance sources are responding. But the editor wonders if there’s something else at play.
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There were plenty of new innovations on display in and around NADA 2017. The editor takes you on a tour of five new tech tools aiming to help dealers land more sales and F&I opportunities.
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A day after House Republicans called for the dismissal of CFPB Director Richard Cordray, the American Financial Services Association called on Congress to reform the bureau’s practices and amend its structure.
Read More →In an amicus brief filed last Friday, the Justice Department called on the D.C. Circuit Court to uphold the appellate court's 2-1 ruling in a New Jersey-based mortgage company's closely-watched challenge of the CFPB's authority. The agency says it agrees with the court's unconstitutional ruling and 'at-will' remedy.
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The more than 1,000 credit unions on CU Direct’s lending platforms maintained their No. 2 spot on Experian’s auto finance leaderboard in January. And with plateauing demand for new vehicles expected to drive up pre-owned sales, the market appears ripe for credit unions to reap further market share gains.
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GAP rates are on the rise. Insiders say dealers should welcome the increases, adding that the performance of this core F&I product points to a severe slowdown in the next 24 months.
Read More →The editor shares a story of good intentions gone wrong. He believes there’s a learning lesson for all, including himself.
Read More →Every type of debt posted a quarter-over-quarter increase, with auto loan balances increasing by $22 billion ($93 billion from a year ago) to $1.16 trillion. Much of that growth was driven by originations, which totaled $142 billion. That’s the highest level recorded in the 18-year history of New York Fed’s data.
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The D.C. Circuit granted the bureau’s request to reconsider last October’s three-judge ruling that the bureau’s structure is unconstitutional, vacating a decision that gave the president the authority to remove the director of the CFPB at will.
Read More →The editor delves into results of a new study that says 60% of dealers who aren’t using tablets aren’t even considering adopting them.
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