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Regulators Appear to Endorse Alternative Credit Scoring
Auto Loan and Lease Activity Slows as Balances Grow
Fed Triggers Third Interest Rate Cut of 2019

Fed Triggers Third Interest Rate Cut of 2019

The Federal Reserve has announced its third interest rate reduction since July, this time excluding language committing the central bank to action in support of economic expansion.

October 31, 2019

Ford Credit Rolls Out Discount Car Insurance Program
Detroit, Japan Factories Suffer in Short September Sales Report

Detroit, Japan Factories Suffer in Short September Sales Report

U.S. sales of new cars and light trucks fell 12% year-over-year in September, suppressed in part by a Labor Day weekend allotted to August. Few were spared the sting, with all six of America’s and Japan’s biggest factories reporting double-digit declines.

October 3, 2019

Fed Cuts Interest Rates Again, Stock Market Responds

Fed Cuts Interest Rates Again, Stock Market Responds

Stock are on the rise following the second quarter-point reduction to the federal funds rate in less than two months. No further cuts are planned for this year or next, guaranteeing further pressure from the White House.

September 19, 2019

NADA Mounts Opposition to Enhanced Safeguards Rule

NADA Mounts Opposition to Enhanced Safeguards Rule

National Automobile Dealers Association officials have told the FTC that proposed new provisions to the Safeguards Rule may be unnecessary and could cost smaller dealers more than $400,000 in the first calendar year of enforcement.

September 9, 2019

Mazda Turns to Toyota for Captive Financing

Mazda Turns to Toyota for Captive Financing

Toyota Motor Credit will offer loans, leases, and F&I products to Mazda’s U.S. dealers and customers, replacing the JPMorgan Chase-backed Mazda Capital Services as the factory’s captive finance company.

August 29, 2019

S.C. Dealer Sues Former GM, F&I Manager

S.C. Dealer Sues Former GM, F&I Manager

Hoover Mitsubishi’s Mark Hoover has sued two former employees accused of doctoring auto loan applications, a scheme that led to an FBI raid and the shuttering of the dealership.

August 21, 2019

DOJ Settles Nissan Captive Case for $3M

DOJ Settles Nissan Captive Case for $3M

The U.S. Department of Justice announced Nissan Motor Acceptance will pay $3 million to settle charges that it unlawfully repossessed 113 vehicles belonging to active military members.

August 7, 2019

Report: Longer Commute, Bigger Auto Loan

Report: Longer Commute, Bigger Auto Loan

LendingTree analysts have discovered a correlation between commute times and auto loan balances, finding that car buyers borrow $269 for every additional minute between home and work.

August 2, 2019

Cornered Fed Announces First Rate Cut Since 2008

Cornered Fed Announces First Rate Cut Since 2008

Facing new global realities and pressure on multiple fronts, the Federal Reserve cut interest rates for the first time in more than a decade in an attempt to prolong the economic expansion.

August 1, 2019

Industry Leader Lee Iacocca Dead at 94

Industry Leader Lee Iacocca Dead at 94

Famed auto executive and visionary Lee Iacocca has died, leaving a legacy of leadership, ingenuity, and a no-nonsense approach to the design, sale, and financing of American vehicles.

July 3, 2019

FTC: DealerBuilt Hack Affected 130 Dealerships

FTC: DealerBuilt Hack Affected 130 Dealerships

A 2016 cyberattack laid bare the personally identifiable information of about 12.5 million customers of 130 U.S. dealerships, according to a Federal Trade Commission bulletin announcing a consent agreement with dealer software provider DealerBuilt.

June 13, 2019

Subprime Up 13% as Total Auto Originations Decline

Subprime Up 13% as Total Auto Originations Decline

The Federal Reserve Bank of New York’s Q1 U.S. household debt report finds auto loan and lease originations declined slightly year-over-year — except for sub-620 customers — while 90-day delinquencies grew by 9.2%.

May 21, 2019