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Newsby Gregory ArroyoJuly 21, 2016

Trade Groups Call on U.S. Senators to Support CFPB-Reform Bill

The same week the CFPB celebrated its five-year anniversary, trade groups representing various motor vehicle industries urged U.S. Senators to support legislation that would rescind the regulator’s March 2013 guidance on dealer participation, among other things.

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NewsJuly 21, 2016

87% of Consumers Dislike Dealership Experience, Survey Finds

Conducted by Harris Poll on behalf of online retailer Beepi, the study revealed an apparent distrust and negative opinion of car dealerships among consumers polled. In the survey’s findings, 61% of respondents felt like they were taken advantage of at some point in the dealership.

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NewsJuly 20, 2016

Capital Z Acquires Portfolio Group

Capital Z Partners Management announced it has acquired Portfolio Group Inc. from Frontenac Company LLC. The F&I product provider's current management team will retain their current roles and significant ownership.

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NewsJuly 20, 2016

Manheim Names Two New Vice Presidents

Manheim has named Derek Hansen vice president of digital inventory solutions and Angela Babin vice president of retail solutions.

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NewsJuly 20, 2016

Dent Wizard Appoints New Regional Operations Director

The new director, Paul Spears, will be responsible for leading the company's safety and compliance efforts, as well as providing additional operational support for the company's paint shops and Frontline Fast dealer clients.

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NewsJuly 19, 2016

O’Loughlin to Tackle ‘Rules and Regulations’ at Compliance Summit

Terry O’Loughlin, director of compliance for Reynolds and Reynolds and a former regulator, will serve as a featured speaker at the upcoming Compliance Summit, scheduled for Aug. 29-30 at Paris Las Vegas.

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Newsby Gregory ArroyoJuly 19, 2016

OCC Expresses Concern About Rising Risk in Auto Finance

The Office of the Comptroller of the Currency has once against expressed concern about rising credit risks in the auto finance arena, noting that underwriting standards for both direct and indirect auto loans have begun to decline due to increased competition.

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NewsJuly 19, 2016

Lunt to Deliver Opening Keynote at Compliance Summit Las Vegas

Organizers of Compliance Summit announced that attorney and compliance expert Aaron Lunt will deliver the opening keynote address at the inaugural Las Vegas event, scheduled for Aug. 29-30 at Paris Las Vegas

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NewsJuly 19, 2016

Champlain National Bank Enters Indirect Channel

Champlain National Bank has entered the indirect auto finance channel behind a cloud-based loan origination system developed by Teledata Communications Inc. The bank is currently integrated with Dealertrack and RouteOne, and has signed 'a substantial number of dealers' in the New York region.

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NewsJuly 19, 2016

Dealertrack Rolls Out Econtracting to Volvo Dealers Nationwide

Dealertrack announced this week that Volvo Car Financial Services is now available for econtracting with Volvo dealers nationwide on the Dealertrack platform. The decision to go national was spurred by results of a regional pilot.

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