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Results: 36

New York Fed: Credit Scores Rise as Household Debt Reaches New Peak

Credit scores in the fourth quarter of 2017 were only a half a point higher than the median score recorded during the first quarter of 2009. And according to the Federal Reserve Bank of New York, 2017 auto loan origination volume reached the highest level it has ever observed.

February 15, 2018

BB&T Switches Back to Markups as CFPB Shifts Away From Enforcement

GOA Says Congress Can Review CFPB’s Guidance on Dealer Participation

The Government Accountability Office said on Tuesday that the bureau’s March 2013 bulletin on dealer participation falls under the Congressional Review Act, a decision that clears the way for the Republican-controlled Congress to repeal the bureau’s controversial guidance.

December 6, 2017

F&I Pacesetters: Bob Moore Cadillac of Edmond
State AGs Urge U.S. Senate to Reject Resolution to Block CFPB’s Arbitration Rule

U.S. House Passes Resolution to Block CFPB's Arbitration Rule

The U.S. House passed a joint resolution of disapproval under the Congressional Rule Act to block the CFPB’s rule banning mandatory arbitration clauses in finance contracts. The resolution now needs Senate approval and the president’s signature to repeal the rule, which industry insiders say could impact the sale of F&I products.

July 26, 2017

Republicans Challenge CFPB’s Arbitration Rule

Republicans Challenge CFPB’s Arbitration Rule

The day after the Consumer Financial Protection Bureau published its new arbitration rule in the Federal Register, House and Senate Republicans filed joint resolutions to block the rule from taking effect in September..

July 25, 2017

Credit Tightening at Wells Fargo to Continue Into 2018

Credit Tightening at Wells Fargo to Continue Into 2018

With second quarter originations plunging 45% from a year ago on tightening underwriting standards, bank execs said they expect originations to continue falling for the rest of the year before stabilizing in the first half of 2018.

July 20, 2017

CFPB Issues Rule Banning Arbitration Clauses in Finance Contracts

CFPB Issues Rule Banning Arbitration Clauses in Finance Contracts

The new rule is set to take effect 60 days after publication in the Federal Register. It comes more than two years after the bureau studied mandatory arbitration clauses and one year after it proposed to ban such clauses in consumer finance contracts.

July 10, 2017

House Approves Dodd-Frank Replacement Bill

House Approves Dodd-Frank Replacement Bill

Four days after the U.S. House passed a bill aimed at reversing a number of Dodd-Frank financial regulations and scaling back the CFPB’s authority, the Treasury Department recommended that the bureau’s powers be reduced in a report containing more than 100 suggestions for financial reform.

June 13, 2017

5 Tech Tools From NADA 2017

5 Tech Tools From NADA 2017

There were plenty of new innovations on display in and around NADA 2017. The editor takes you on a tour of five new tech tools aiming to help dealers land more sales and F&I opportunities.

April 10, 2017

AFSA to Congress: The CFPB ‘Needs to Be Reined In’

AFSA to Congress: The CFPB ‘Needs to Be Reined In’

A day after House Republicans called for the dismissal of CFPB Director Richard Cordray, the American Financial Services Association called on Congress to reform the bureau’s practices and amend its structure.

April 7, 2017

CUDL Holds Onto No. 2 Spot in Auto Finance Rankings

CUDL Holds Onto No. 2 Spot in Auto Finance Rankings

The more than 1,000 credit unions on CU Direct’s lending platforms maintained their No. 2 spot on Experian’s auto finance leaderboard in January. And with plateauing demand for new vehicles expected to drive up pre-owned sales, the market appears ripe for credit unions to reap further market share gains.

March 14, 2017

Rising GAP Claims Reveal Troubling Trends

Rising GAP Claims Reveal Troubling Trends

GAP rates are on the rise. Insiders say dealers should welcome the increases, adding that the performance of this core F&I product points to a severe slowdown in the next 24 months.

March 9, 2017