One industry analyst said the quarter-point hike will result in new-vehicle sales dropping below 17 million units in 2018, noting that the Fed Reserve’s previous three increases are responsible for fewer new leases and this year’s shift from new to used.
December 14, 2017
The Federal Open Market Committee (FOMC) voted 9-1 on March 15 to raise the target range for the federal funds rate by a quarter percentage point to 0.75% to 1% — a move that was widely expected.
March 16, 2017
While the industry welcomed the Fed’s 7-3 decision not to raise interest rates a quarter point, market watchers say even a full percentage-point increase wouldn’t impact the current pace of auto sales. The Fed is still expected to raise rates a quarter point by the end of the year.
September 22, 2016
The FRB and CFPB announced on Nov. 25 that 2016 dollar thresholds for Reg. Z and M exemptions will remain unchanged from 2015. The AFIP says the accepted practice for processing transactions above the threshold will also remain unchanged.
December 29, 2015
The Federal Reserve voted unanimously today to increase its target funds rate by a modest quarter point. One market research firm believes that could cut into sales by 150,000 units.
December 16, 2015
Proposed last week, an amendment to the Senate’s 2015 Budget Resolution would give Congress oversight of the CFPB, which currently has a budget of about $600 million and operates under the Federal Reserve.
March 26, 2015
The Federal Reserve has objected to Santander Holdings USA’s capital plans due to widespread deficiencies in governance, internal controls, risk identification and management, as well as other key areas.
March 12, 2015
The NADA Used Car Guide expects credit conditions to become ‘slightly less favorable’ by the end of the year as finance sources take on more risk.
April 8, 2014
The Federal Reserve is looking into costs associated with the Consumer Financial Protection Bureau's renovation of its headquarters, which have ballooned to three times the original estimate.
February 18, 2014
As a financial holding company, Ally is permitted to engage in a broader range of business activities and can continue to operate its insurance and remarketing businesses as part of its dealer financial services operation.
December 31, 2013
The U.S. Department of Justice settled a lawsuit filed against the former Union Mitsubishi of Los Angeles. The suit claimed the dealer charged non-Asian customers higher interest rate markups.
September 12, 2013
The sectors realize a massive $18.3 billion gain in December alone, according to the U.S. Federal Reserve.
April 16, 2013
U.S. banks are responding to increased demand for credit by relaxing guidelines on car loans and credit cards, the Federal Reserve reports.
August 9, 2012
The Federal Reserve on Tuesday announced summary results of the latest round of bank stress tests, which show that the majority of the largest U.S. banks would continue to meet supervisory expectations for capital adequacy despite large projected losses in an extremely adverse hypothetical economic scenario.
March 15, 2012
Financing for big-ticket items like autos did rise in September, but the Federal Reserve’s latest report on consumer credit also indicated that consumers are paring down debt in other areas.
November 10, 2011