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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.
Read More →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
Read More →Jumpstart Automotive Group has signed an exclusive ad sales representation agreement with Autolist.com. Jumpstart CEO Nick Matarazzo said the partnership will allow his company to tap into consumers deep in the automotive purchase funnel.
Read More →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.
Read More →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.
Read More →The event — which is exclusive to NADA and American Truck Dealers members — will be held at Mardi Gras World on Jan. 26, 2017. It will feature cuisine from top New Orleans restaurants and entertainment from Foreigner, Cowboy Mouth and local jazz musicians.
Read More →A Missouri dealer has agreed to pay $38,067 in restitution to 23 former customers to settle the state attorney general's charges that he and his dealership did not provide vehicle titles and did not honor repair agreements. The dealer is also prohibited from operating a dealership for five years.
Read More →Loan terms continue to stretch thanks to high vehicle prices, with terms in the 73- to 84-month band more than doubling between 2010 and 2015. But finance sources, according to a new study from TransUnion, aren’t capturing the benefits of more payments and greater interest income.
Read More →While unfortunate, employee crimes against dealers do happen. This week, Automotive Compliance Consultants released a list of tactics dealers can employ to prevent employee theft at their store.
Read More →LMC Automotive has revised its forecast for U.S. auto sales for the 2016-2023 periods. The company expects nearly 250,000 fewer units will be sold each year during that timeframe, with a larger reduction occurring between 2016 and 2017.
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