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With subprime auto lending volumes having more than doubled since the 2009 financial crisis, Moody’s expects to see higher credit losses, which have been gradual so far.
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Fourteen credit unions across the country are participating in a product incubator for Non-Prime Auto Loans, one of five products in the Filene Research Institute’s accessible financial services incubator funded by the Ford Foundation.
Read More →Chicago-based BMO Harris Bank issued a notice to its dealer customers this week, stating that it has eliminated dealer markups on indirect auto loans. The policy went into effect Thursday.
Read More →The unusually cold weather that impacted much of the economy didn’t slow down the auto finance industry, which reached new highs in several critical metrics.
Read More →Capital One’s Sanjiv Yajnik says ‘imitation is the best form of flattery’ in describing recent moves by competitors to adopt a strategy the bank rolled out in 2010.
Read More →Three Republican lawmakers are requesting information from the CFPB regarding employee performance reviews after reports surfaced last week about possible racial disparities related to its internal management practices.
Read More →Dealer Capital is launching a new auto loan purchase program. The rollout is nationwide and aims to cover most sizes and types of auto portfolios.
Read More →GrooveCar Direct has partnered with MIDFLORIDA Credit Union and Tuscaloosa Teachers Credit Union. The two credit unions will take advantage of the buying resource's suite of products to grow auto originations.
Read More →According to the latest report from Experian Automotive, interest rates for auto loans fell to an all-time low in the third quarter, while the average amount financed reached its highest level since 2008.
Read More →Lenders that provide excellence in the servicing and onboarding experiences from the beginning of the loan or lease process set the stage for customer satisfaction throughout the financing duration, according to the J.D. Power 2013 U.S. Consumer Financing Satisfaction Study.
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