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CFPB Holds Auto Finance Hearing Following New Rule Proposal
Industry Responds to New York Times Op-Ed on Subprime Auto Loans

NADA: Flat Fees Do Not Eliminate Discretion

A memo released by the NADA this week states that the CFPB’s proposed method for eliminating fair lending risk in the auto lending arena would do no such thing. Instead, dealers would still have discretion when it comes to selecting a finance source for their customers.

May 20, 2014

Dealertrack Posts Record Revenue for 2013

The tech firm touted a 24% increase in revenue for 2013. It also noted that more than 1,000 dealers visited the company’s booth at the NADA Convention & Expo.

February 20, 2014

Penske Holds Off on Adopting NADA Compliance Program

Officials with Penske Automotive Group, which reported a record fourth quarter, said the operation will “wait and see” when it comes to adopting the NADA’s new fair lending compliance program.

February 18, 2014

Asbury ‘Very Confident’ About Meeting CFPB’s Requirements

Asbury Automotive Group, which reported a record fourth quarter, does not plan to alter any business practices in response to the CFPB’s scrutiny of rate participation programs. Officials reveal that the dealer group already has already adopted many of the regulator's recommendations.

February 6, 2014

Industry Groups Question Study on Discrimination in Auto Lending

The Center for Responsible Lending released findings last week that show negotiation does not help African American and Latino car buyers secure better interest rates on auto loans. Auto trade groups, however, were critical of the study’s findings, claiming it lacks data to support its claims.

January 30, 2014

NADA Issues Dealer Data Guidance

The NADA issued a memo to members last week that outlines regulatory requirements for protecting the consumer information they collect. The memo follows warnings about data access from the FTC and F&I and Showroom columnist Jim Ziegler.

September 6, 2013