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PassTime Names New CEO, President

PassTime cofounder Jeffrey Frank was named chairman and CEO, while 19-year company veteran Chris Macheca was named president. The latter will retain his title of COO.

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Former Chase Custom Exec Joins Westlake

The once head of Chase Custom Finance is back. Today, Westlake Financial Services announced it has contracted Bill Jensen to focus on developing its strategic accounts division.

700Credit, FactorTrust Partner to Help Dealers With Underbanked Car Buyers

FactorTrust provides credit data that incorporates verifiable payment histories from transactions such as short-term loans, credit and prepaid card, wireless services and collection agencies. Through 700Credit, dealers will gain access to this information to serve customers with thin credit files or who are underbanked

MUSA Auto Finance Secures Funding Capacity of $175 Million

The special finance company, which counts the cofounder and former COO of Exeter Finance in its executive ranks, will use the funding to launch a new and pre-owned auto leasing program this year.

Bankruptcies Register First Consecutive Monthly YOY Increases Since 2010

While bankruptcies plunged last year to their lowest levels since the implementation of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2015, filings are beginning to climb, according to the American Bankruptcy Institute.

Tom Hudson Joins Dealer Summit Roster

Prominent consumer finance attorney Thomas B. Hudson will be at Dealer Summit this May to discuss how regulators have changed the business model for special finance and buy-here, pay-here operations.

ProMax’s Palmer to Share Loan-Approval Tips at Dealer Summit

John Palmer, CEO of ProMax Unlimited, will present “Secrets to Getting More Lender Approvals” at Dealer Summit, organizers announced on Wednesday.

Goebel to Pull Triple Duty at Dealer Summit

Organizers of Dealer Summit have announced that Greg Goebel will lead three of the eight sessions dedicated to special finance at Dealer Summit, which will be held May 3–5, 2016, at the Sheraton Tampa Riverwalk Hotel.

Registration Open for Dealer Summit 2016

Organizers of Dealer Summit announced that registration is now open for the event, which is scheduled for May 3–5, 2016, at the Sheraton Tampa Riverwalk Hotel.

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Westlake Expanding Dallas Servicing Team

This week, Westlake Financial Service began its recruitment process as part of its plans to expand the servicing team in its Dallas production center, which opened its doors this past January.