A coalition of five trade groups representing the nation’s largest auto finance sources urged the CFPB to review and respond publicly to a study that questions its methodology for measuring disparities in dealer reserve.
Penske Automotive Group realized a 16% increase in revenue and a 14% bump in adjusted income from continuing operations in 2014’s fourth quarter. The dealer group’s CEO also discussed its plan to pilot the NADA’s fair credit compliance program at four stores.
Officials with Penske Automotive Group, which reported a record fourth quarter, said the operation will “wait and see” when it comes to adopting the NADA’s new fair lending compliance program.
Now, more than ever, dealers are left with unanswered questions about finance reserve, discriminatory lending and other regulatory concerns. Two attorneys share their opinions on those topics with F&I and Showroom.
Would you lower your rate to sell a product? The magazine’s from-the-trenches columnist weighs in on this $64,000 question.
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