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Fear of the economy’s slow recovery, snow in the Eastern region of the country and a negative job report not only stalled February auto sales, but it also led to a three-month low in borrowing, according to the Federal Reserve’s February report.
Read More →Credit extended to consumers in January rose for the first time since July 2008, according to the Federal Reserve’s monthly report, providing further evidence that both lenders and consumers are feeling better than they did a year ago.
Read More →Lending to the nation’s 17,000 franchised dealers to purchase new- and used-vehicle inventory continues to lag, making it a top issue for the National Automobile Dealers Association (NADA). The dealer association said that a hearing on Feb. 25 by the Congressional Oversight Panel on the Troubled Asset Relief Program (TARP) highlights the ongoing need to provide more liquidity for auto business lending.
Read More →The verdict on the impact of the Fed's new rule is still out, but its requirements might just be what the doctor ordered for our business.
Read More →Washington is working overtime these days, so expect 2010 to be a bumpy ride on the regulatory front.
Read More →In what is expected to have a big impact on the special-finance marketplace, the Federal Trade Commission (FTC) and the Federal Reserve Board (FRB) issued in late December finalized rules that will require creditors, including dealers, to alert consumers when derogatory credit data causes them to receive less than optimal terms. The rule is expected to take effect Jan. 1, 2011.
Read More →Consumer credit dropped 8.5 percent in November 2009, the lowest figure of the year, according to the Federal Reserve’s monthly report.
Read More →Key indexes point to a rebound, but the road to recovery is a long ways off. Still, there are opportunities to be had.
Read More →Consumer credit decreased at an annual rate of 3.3 percent in the third quarter and continued to decline in October, according to the Federal Reserve’s monthly report.
Read More →Economic conditions are improving, although modestly, the Federal Reserve said in its Beige Book report on the economy. The report, a collection of comments received from businesses and other sources in 12 federal regions, also showed improvement in auto sales.
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