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The former operator of a West Texas dealership and two others are accused of devising a plan to approve loans for customers who did not meet a credit union’s lending standards. The credit union lost $3.9 million as a result of the scam.
Read More →The Consumer Financial Protection Bureau has ordered U.S. Bank and its nonbank partner company, Dealers’ Financial Services, to pay restitution to participants in the Military Installment Loans and Educational Services (MILES) auto loans program.
Read More →TransUnion and Carfax have partnered on a new vehicle history scoring model designed to help finance sources predict credit risk on auto loans.
Read More →In the first quarter of 2013, 30-day auto loan delinquencies rose 1.3 percent, 60-day delinquencies increased 12.4 percent and repossessions rose 16.9 percent when compared with the previous year.
Read More →The CFPB isn’t the only regulator interested in what goes on inside the F&I office. The U.S. Department of Justice also is taking aim at retail installment transactions.
Read More →A recent study by the Federal Trade Commission determined that, for five percent of consumers, credit report errors led to them paying more for products such as auto loans and insurance.
Read More →The sectors realize a massive $18.3 billion gain in December alone, according to the U.S. Federal Reserve.
Read More →CalculateStuff.com’s Car Finance Tools app allows car buyers to calculate how much they can borrow on their next vehicle purchase. It also offers lease calculations.
Read More →The CFPB launches the nation’s largest database of federal consumer financial complaints. Bureau officials said the database will be used to prioritize its investigations, among other things.
Read More →The NADA and the National Association of Minority Automobile Dealers say the CFPB’s actions in regards to dealer participation will have an opposite effect on consumers, claiming their cost of credit will go up.
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