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NewsMay 19, 2009

Pelican State Credit Union Joins Wolters Kluwer’s Loan Platform

AppOne, a part of Wolters Kluwer Financial Services, announced Tuesday that Louisiana-based Pelican State Credit Union has joined its credit union platform.

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NewsMay 18, 2009

GMAC Financial Services Introduces Ally Bank

GMAC Financial Services announced Friday that launched Ally Bank, the new brand for its U.S. online bank.

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NewsMay 15, 2009

Proposed Bill Restricts Post-Sale Changes in Finance Terms

A legislative proposal heard this week by a U.S. House of Representatives subcommittee directs the Federal Trade Commission (FTC) to issue new rules that would have significant ramifications for the auto finance industry, says the chief federal government affairs official for the American Financial Services Association (AFSA).

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NewsMay 14, 2009

RouteOne Announces Integration With VertiSEL

RouteOne LLC completed integration with VertiSEL Inc., which offers programs to help consumers improve their credit eligibility.

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NewsMay 13, 2009

FinCo Management Offers Subprime Financing for Powersports

FinCo Management unveiled its “BuyHere-PayTHERE” subprime financing solution, which is designed for credit-challenged customers who are able to provide down payments large enough to cover most or all of the actual cash value (ACV) of the unit.

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NewsMay 13, 2009

Fitch Downgrades AmeriCredit Ratings

Fitch Ratings assigns a revision rating and downgraded 14 classes from six AmeriCredit Automobile Receivables Trusts. The ratings remain on Rating Watch Negative.

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NewsMay 13, 2009

Leedom Group Offers Dealers Payment Tools Through Finance Express

The Leedom Group's two latest financial products, ACH Collector and the Leedom Convenient World Prepaid Visa Card, are now offered through Finance Express, a provider of Web-based dealer management systems and technology solutions for auto dealerships.

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NewsMay 12, 2009

DealerTrack Reports Drop in 1Q Revenue

DealerTrack reported revenue of $55.7 million for the first quarter 2009, a drop from the $64.3 million recorded during the year-ago period. The company had a net loss of $5.6 million in the first quarter, compared to a net income of $2.3 million in the year-ago period.

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NewsMay 12, 2009

Chrysler to Offer Up to $6,000 in New-Vehicle Incentives

Chrysler LLC announced a new slate of incentives worth up to $6,000 for new-vehicle purchases. The savings may be enough to convince car buyers to invest in the beleaguered OEM as it works its way through last week's Chapter 11 bankruptcy filing and an alliance with Italian automaker Fiat SpA.

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NewsMay 11, 2009

GMAC Needs to Raise $11.5 Billion in Capital

GMAC Financial Services confirmed Thursday the $11.5 billion in capital requirements for the company resulting from the Federal Reserve's Supervisory Capital Assessment Program (S-CAP).

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