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Auto Finance Data Reveals Affordability Concerns

Fourth-quarter loan balances reached an all-time high for the third year in a row, but records broken for amounts financed and monthly payments raise affordability concerns.

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CFPB: More than 40% of U.S. Adults Struggle to Make Ends Meet

The bureau released results of a national survey that measures the financial well-being of specific consumer groups as well as the population as a whole. The regulator also announced the release of a new tool designed to allow consumers to measure their level of financial well-being.

Subprime Borrowers, Expected Interest Rate Hikes to Drive Up Delinquency Rates in 2017

Transunion projects the auto loan delinquency rate for consumers with payments 60 or more days past due to close the year at 1.4%, the highest level since year-end 2009. Even with this increase, TransUnion said delinquency rates will remain well below levels observed during the last recession.

Women Better Managers of Credit Than Men, Study Shows

Not only do women have higher credit scores and less debt than men, according to a new report from Experian, they are more likely to purchase a more functional, utilitarian vehicle than their male counterparts.

Canada's Desjardins Group Now Available on RouteOne Platform

RouteOne Canada has announced that Desjardins Group has joined its auto financing portal. Dealers accredited with the cooperative financial group can access credit services, and process credit applications and finance contracts through RouteOne’s platform.

CreditMiner Integrates With Flick Fusion Platform

CreditMiner has partnered with Flick Fusion to incorporate its real-time soft credit-pull technology with Flick Fusion’s online and mobile video platform.

CreditMiner Receives Bureau Global Reseller Status

CreditMiner has been granted full global reseller status with all three national credit bureaus, allowing for a seamless transition from a soft bureau transaction to a full application within the company’s software platform.

Consumer Complaints Hit 677,000, CFPB Reports

The Consumer Financial Protection Bureau has received more than 677,000 consumer complaints as of August 1, according to the bureau’s monthly consumer complaints snapshot. The biggest increase was in credit reporting complaints.

Consumer Credit Defaults Continue Upward Trend

According to S&P and Experian, consumer credit defaults continue to rise, with the bank card default rate leading the way. The auto loan default rate also increased.

Equifax Refutes ‘Subprime Bubble’ in New Report

A new analysis by Equifax economists shows the median consumer credit score increased by 52 points after taking out a subprime auto loan.