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Credit card down payments, multiple vehicle purchases and even straw purchases can be completed without committing bank fraud, as long as you tell the bank first.
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The NADA has filed a second Freedom of Information Act request for internal CFPB documents that allegedly show the bureau intended to regulate the auto finance market through enforcement action. An earlier request was denied.
Read More →Five million vehicles have been sold on Ally Financial’s online auction platform, the company announced this week.
Read More →The bureau is seeking to ban pre-dispute arbitration clauses that block class action lawsuits. The proposals under consideration would allow companies to use arbitration for individual disputes, but would require those companies to submit to the CFPB the arbitration claims filed and awards issued.
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Following its recent acquisition of Dealertrack, Cox Automotive has appointed Dealertrack’s former co-president, Raj Sundaram, as its chief client success officer.
Read More →Wells Fargo Dealer Services has opened its second regional business center in Houston — its fifth in Texas. The new center will serve approximately 100 dealerships in the region.
Read More →Reynolds Document Services has released the Reynolds LAW Washington F&I Library, a comprehensive catalog of standardized, legally reviewed F&I documents available to new car and truck dealers in the state of Washington.
Read More →Used-vehicle prices were up nearly 3% in the third quarter from a year ago, according to Manheim’s Used Vehicle Value Index, a measure of wholesale prices adjusted for mix, mileage and season.
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The Chicago-based bank notified dealers in approximately 12 states that it’s refocusing its indirect auto business to its core market states, including Illinois, Wisconsin, Indiana, Minnesota, Kansas, Missouri, Arizona and Florida.
Read More →Dealertrack unloaded its inventory management solution today, clearing the way for Cox Automotive to complete its acquisition of the software maker. The announcement comes a day after the Justice Department challenged the merger between the two software giants.
Read More →This week, Westlake Financial Service began its recruitment process as part of its plans to expand the servicing team in its Dallas production center, which opened its doors this past January.
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