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Fed Reserve Raises Interest Rates

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.

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Outstanding Auto Loan Balances Reach Record High, Experian Reports

The total dollar amount of automotive loan balances outstanding hit $839.1 billion in the second quarter of 2014, up 11.7% from the previous year. Officials said the industry should watch this trend closely, as it may dictate the availability of credit in the future.

Ristken Integrates US Equity Advantage’s Biweekly Payment Offering

Dealers using Ristken’s Menu-Pro will not be able to quote US Equity Advantage’s biweekly payment product directly from the menu tool.

TransUnion: Credit Unions Focused on Growth in 2013

A new survey from TransUnion indicates that credit union execs are targeting auto loans to fuel their growth this year. One reason cited by executives is delinquencies remain at historic lows.

Shastic Doubles Social Loan Calculator Client Base

Usage of Shastic’s social loan calculator is picking up, with the Berkeley-based company expanding its client base by 66 percent in the first quarter of 2013. Auto loans so far account for 49.4 percent of usage of the company’s Calcubot.

FTC: 5 Percent of Consumers Have Erroneous Credit Reports

A new FTC study on credit report accuracy found that one in five consumers had an error on at least one of their credit reports.

Missouri Man Charged in Million Dollar ID Theft Scam

Missouri Attorney General Chris Koster and Jackson County Prosecutor Jean Peters Baker charge man in million-dollar identity-theft scam involving fraudulent car loans. If convicted, the man could face life in prison.

Calculated Risk

Like previous quarters, the third quarter saw finance sources continuing to delve deeper into the credit spectrum. But is this good for the industry?

S&P/Experian: Auto Loan Default Rate Rises in September

Auto was the only loan type to show an increase in its default rate, but officials with the S&P/Experian Consumer Credit Default Indices don’t seem concerned.