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Federal Reserve Keeps Rates Steady

The Federal Reserve voted unanimously to maintain the target range for the federal funds rate at 1.5% and 1.75%, but it hinted at a possible rate hike in June.

May 3, 2018

Calif. Dealers Seek New Protections Under State's Franchise Laws

Calif. Dealers Seek New Protections Under State's Franchise Laws

New legislation aimed at strengthening dealer protections under California’s franchise laws will have its first committee hearing on Monday. One of its provisions specifically addresses the disclosure policy General Motors issued last summer regarding the sale of non-GM service contracts.

April 19, 2018

U.S. Senate Approves Resolution to Repeal CFPB’s Dealer Participation Guidance
TransUnion: Auto Loan Growth Slowing

TransUnion: Auto Loan Growth Slowing

Originations continued to fall at a faster rate than previous years, as finance sources continued to tighten underwriting standards during 2017’s end-of-year quarter. TransUnion officials, however, say the sector is performing well as the economy remains relatively strong.

February 22, 2018

Military Lending Act's December Update More Harmful Than First Thought

Military Lending Act's December Update More Harmful Than First Thought

A Hudson Cook attorney told industry trade groups in a Jan. 18 memo that the Defense Department’s Dec. 14 interpretative rule, combined with something else it did in July 2015, makes it ‘highly unlikely that any dealer or finance source will be willing to originate or purchase’ a vehicle finance transaction if credit-protection products are included.

February 22, 2018

New York Fed: Credit Scores Rise as Household Debt Reaches New Peak

Credit scores in the fourth quarter of 2017 were only a half a point higher than the median score recorded during the first quarter of 2009. And according to the Federal Reserve Bank of New York, 2017 auto loan origination volume reached the highest level it has ever observed.

February 15, 2018

BB&T Switches Back to Markups as CFPB Shifts Away From Enforcement
Appeals Court Rules CFPB Structure Is Constitutional

Appeals Court Rules CFPB Structure Is Constitutional

On Wednesday, the D.C. Court of Appeals ruled 7-3 that a provision in the Dodd-Frank Act that says the CFPB director can only be removed for cause does not unconstitutionally constrain the president.

January 31, 2018

Zurich to Focus Heavily on F&I in 2018

Zurich to Focus Heavily on F&I in 2018

Zurich North America is reshaping its dealer P&C portfolio to address 'persistent underperformance due to continued volatility associated with large and catastrophic hail losses." As a result, Zurich will focus heavily on F&I in 2018, a spokesperson said last week.

January 22, 2018