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Condor Capital must pay an estimated $8 million in restitution to harmed customers, a $3 million penalty and admit violations of the Dodd-Frank Act and New York state law. The lender will also surrender its licenses in all states.
Read More →According to a report released by the U.S. Treasury Department this week, the government lost more than $9 billion on its bailout of General Motors Corp., Chrysler LLC and auto lending arms Ally Financial Inc. and Chrysler Financial.
Read More →On the same day the U.S. Department of the Treasury sold the last of its remaining 54.9 million shares of Ally common stock, Ally Financial revealed that it has received a subpoena from the Department of Justice related to subprime auto lending.
Read More →New-vehicle retail sales in December are expected to reach a SAAR of 14.2 million units, the highest level since 2006.
Read More →AutoStar Solutions’ Steve Levine shares a dozen simple ways dealers can guard their businesses from the government Grinch.
Read More →A North Carolina dealer was charged with pocketing money he obtained from five finance sources and seven customers related to the sale of seven cars.
Read More →Dealertrack users can now easily implement and manage Spiff programs using Spiffit’s application through the software provider's DMS.
Read More →Dealertrack is expected to pay $190.3 million for incadea plc, a DMS provider that has more than 75,000 worldwide end users in nearly 3,500 dealerships.
Read More →A luxury-car dealer who lost his dealership license in September has fled the country, thwarting efforts by his customers to recoup thousands of dollars.
Read More →A1 Software Group has announced its new dealership sales solution, Selly, a mobile focused, lightweight platform for automotive sales. Selly is designed for small- to medium-sized dealerships and was initially distributed as a mobile app.
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