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
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
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
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
President Trump kicked off a weeklong public awareness campaign for the 2017 Tax Cuts and Jobs Act with a visit to Nuss Truck and Equipment in Burnsville, Minn.
April 16, 2019
The U.S. new-vehicle sales forecast improved to 17.42 million units in March, but sales fell 3.1% year-over-year against slowing demand fueled by higher interest rates, prices, and payments and reduced incentive spending.
April 3, 2019
Wells Fargo President and CEO Tim Sloan will retire effective June 30, ending an era marked by a series of scandals that rocked the company’s auto, home, and consumer banking divisions.
March 29, 2019
FICO’s second annual survey of auto finance customers finds the United States and Canada atop the dealer-arranged financing rankings even as the number of auto loans originated online jumped from 5% to 13% year-over-year.
March 13, 2019
Concerns over subprime lending and 90-day delinquencies offset an otherwise prosperous year for the auto finance industry.
February 25, 2019
Lending Tree’s most recent auto finance snapshot finds originations, amounts financed, and monthly payments all accelerated in 2018.
February 21, 2019
Chairman Jerome Powell confirmed the Federal Reserve is reconsidering two interest-rate hikes planned for 2019 due to a ‘less favorable outlook’ for the global economy.
January 31, 2019
Black Book’s Used Vehicle Retention Index ticked downward for the second time in December, but seasonal declines weren’t enough to derail the key metric’s largest annual improvement since 2012.
January 7, 2019
The Federal Reserve announced its fourth hike in the federal funds rate this year and lowered its economic growth forecast for 2018 and 2019.
December 20, 2018
Santander Consumer USA has agreed to pay $9.29 million in restitution and $2.5 million in fines to settle claims leveled by the U.S. Consumer Financial Protection Bureau over the finance source’s GAP and interest-only payments programs.
November 21, 2018
Capital One announced gains in its auto finance division even as directors acknowledged increasing competition in the subprime space.
July 30, 2018
Toyota’s captive finance company announced it will raise its dealer markup caps following the early termination of consent orders issued by the Consumer Financial Protection Bureau and the Department of Justice.
May 17, 2018