News

AutoFi Adds iLendingDIRECT Network

AutoFi today announced the addition of iLendingDIRECT and its network of credit unions to its point-of-sale auto finance solution. The fintech firm also announced its entrance into the used-vehicle market.

Spireon Reports ‘Outstanding’ 2016

Spireon Inc. reported second-half gains in revenue, profitability and multiple segments in 2016. The company is also in the midst of a 14-year run of top-line growth and 'outstanding' financial and operational performance, officials said.

New York Fed: Auto Originations Reach 18-Year High in 2016

Every type of debt posted a quarter-over-quarter increase, with auto loan balances increasing by $22 billion ($93 billion from a year ago) to $1.16 trillion. Much of that growth was driven by originations, which totaled $142 billion. That’s the highest level recorded in the 18-year history of New York Fed’s data.

Georgia Man Pleads Guilty to Odometer Fraud

A Georgia businessman this week pleaded guilty to operating an odometer fraud scheme that revolved around buying later-model cars at auction, tampering with the odometer reading, and then selling the cars at inflated prices, the U.S. Department of Justice announced.

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