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Articles

Curb The Confusion

Talk to F&I customers like you’d talk to a friend, without industry lingo or sales-like questions, and use hard proof to show, not tell, them about a need.

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NewsOctober 1, 2015

Westlake Expanding Dallas Servicing Team

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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NewsOctober 1, 2015

CFPB Takes Action Against Westlake and Its Title-Lending Subsidiary

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.

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Newsby Brittany-Marie SwansonOctober 1, 2015

CFPB Accused of Using ‘Junk Science’ to Regulate Auto Lending

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.

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NewsSeptember 30, 2015

Volkswagen Plans to Fix Emissions-Rigged Vehicles

Volkswagen AG plans to refit all 11 million vehicles involved in the emissions-rigging scandal. It also announced significant changes to its top leadership, while dealers await answers.

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NewsSeptember 30, 2015

Dent Wizard Acquires KhS Global

Dent Wizard has acquired Know How Systems Global, a St. Louis-based provider of high-volume automotive services and repairs to automotive OEMs and insurers.

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Newsby Brittany-Marie SwansonSeptember 29, 2015

Fifth Third Bank to Cap Dealer Markups

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.

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NewsSeptember 29, 2015

AmTrust Completes Acquisition of Warranty Solutions

AmTrust Financial Services has announced the completion of its acquisition of Warranty Solutions from Wells Fargo for approximately $158 million in cash.

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Newsby Brittany-Marie SwansonSeptember 28, 2015

Santander Faces Class-Action Over ‘Worthless’ GAP Coverage

A woman who says she was duped into purchasing “void and worthless” GAP coverage has filed a class action suit against the finance source on behalf of Illinois customers who have signed similar contracts.

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NewsSeptember 23, 2015

VW CEO Resigns Amid Emissions Scandal

Volkswagen's Martin Winterkorn has resigned from his post in the wake of the company's developing emissions scandal.

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NewsSeptember 23, 2015

CreditMiner Receives Bureau Global Reseller Status

CreditMiner has been granted full global reseller status with all three national credit bureaus, allowing for a seamless transition from a soft bureau transaction to a full application within the company’s software platform.

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