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The CFPB has proposed a new rule to oversee larger nonbank auto finance companies for the first time at the federal level. The compliance firm suggests that this could significantly affect compensation policies in dealerships.
Read More →The web application helps dealership employees easily snap and share customer photos via email at vehicle delivery. Officials with DealerRater said the app can increase the likelihood of customers leaving a review by 50%.
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Following an announcement that it would seek supervisory authority over 38 nonbank auto finance companies, the CFPB held a field hearing on the topic in Indiana this morning.
Read More →Strong consumer borrowing fuels rise in lease applicants in August, with approvals reaching 85.7% — besting July’s previous 2014 high of 81%.
Read More →The captive finance company selected the digital marketing, sales and service solutions provider to provide web-based customer lifecycle communications.
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Wells Fargo announced this week that it is separating its Consumer Lending Group’s Consumer Credit Solutions organization into two businesses with the impending retirement of Tom Wolfe, who headed up the organization.
Read More →The CFPB announced this week a proposed rule that would allow it to oversee about 38 nonbank auto finance companies. The bureau also plans to release a new whitepaper which details the methodology it uses to determine the presence of discrimination in auto lending.
Read More →USEA implements code of ethics and a certification test for its dealership partners. The move comes more than three months after the NADA notified members that the FTC was investigating biweekly payment programs.
Read More →Under the new partnership, the two organizations will develop specialized continuing education programs, conduct joint industry research, and cross-publish content.
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This month, the Ninth U.S. Circuit Court of Appeals upheld a lower court’s ruling that dismissed a proposed class-action lawsuit against Yelp. The suit claimed the company extorts advertising dollars from businesses in exchange for good reviews, a practice the federal court said is not illegal.
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