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Growing negative-equity scenarios mean such lengthy terms should be addressed in a forward-looking way to make them work for the dealer and the consumer down the road.
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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.
Read More →The bureau ordered the subprime auto finance source and its subsidiary to pay a $4.25 million civil penalty for illegal debt-collection tactics and $44.1 million in consumer redress.
Read More →CFPB Director Richard Cordray was met with hostility on Tuesday during the bureau’s semi-annual report to Congress. The hearing took place a day before a House committee passed two CFPB reform bills.
Read More →CreditMiner, a pre-qualification solution for dealers, has added the VISOIQ database of consumer information to its suite of data offerings.
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The CFPB and DOJ announced two actions against Fifth Third Bank on Monday, one of which requires the finance source to pay $18 million in restitution to minority auto loan borrowers, as well as limit its dealer partners’ ability to markup interest rates on auto loans.
Read More →AmTrust Financial Services has announced the completion of its acquisition of Warranty Solutions from Wells Fargo for approximately $158 million in cash.
Read More →Default rates inched up in August across multiple consumer credit categories, including auto loans and mortgages, according to data released by S&P Dow Jones Indices and Experian.
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Internal CFPB documents obtained by American Banker show bureau officials repeatedly acknowledging that the method used for detecting discrimination by indirect auto lenders may overestimate disparities.
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Volkswagen's chief executive apologizes for emissions scandal and promises to 'do everything necessary in order to reverse the damage this has caused.'
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