Lower rejection rates aid improved industry performance (Big Wheels)
A decline in auto loan rejection rates contributed to improvement in the auto finance industry’s overall health in June, offset…
FS giants team on open standards project for common cloud controls
The Fintech Open Source Foundation (Finos) is forming an open standard project to describe consistent controls for compliant public cloud deployments in the financial services sector.
CFPB & Justice Department issue statement focused on ECOA & immigration status
Last week was a busy one at the Consumer Financial Protection Bureau. Not only did the CFPB make multiple moves associated with what regulators and the White House dub “junk fees,” the bureau and Justice Department issued a joint statement … [Read More]
Mastercard and NEC team on in-store biometric payments
Mastercard is working with NEC Corporation to push the use of facial recognition technology for instore payments in Asia Pacific.
Google used AI to banish half a billion scam ads in 2024
Google has been using AI to crack down on advertising fraud, meeting a key demand from banks and politicians to bear down on scam accounts.
Podcast: Flagship sold to investment firm, Prestige halts originations
Last week brought more shakeups in the auto finance industry as lender Flagship Credit Acceptance announced it was finalizing a…
Delinquencies, losses climb across securitized auto loans
Delinquencies and net losses were higher year over year in March across securitized prime and nonprime auto loans, while issuance…
Mazda Motor Co. stock rises 17.6% amid lower auto tariffs for Japan
Japanese automakers’ stocks surged today following President Donald Trump’s announcement that the United States would lower its auto tariffs for…
Open Lending claims 2023 NAFCU Innovation Award
Open Lending has another reason to celebrate this holiday season. The enablement and risk analytics solutions provider for financial institutions announced this week that it has been selected as a winner of the 2023 NAFCU Innovation Award for its enhanced … [Read More]
Philadelphia Fed asks, ‘who provides credit in times of crisis?’
Researchers at the Federal Reserve Bank of Philadelphia asked an interesting question and went to the auto-finance market to find answers. The title of the resulting white paper is, Who Provides Credit in Times of Crisis? Evidence from the Auto … [Read More]
AFP: FedNow vs. The Clearing House’s Real Time – where does Request for Payment fit in?
Taking to the stage on the penultimate day of the AFP conference in Nashville’s Music City Center, were Netflix’s Joshua Karoly, The Clearing House’s Cheryl Gurz, US Bank’s Mike Thomas in a panel led by Strategic Resource Management’s Dean Nolan.
M&S says hackers stole customer data
UK retailer Marks & Spencer says some personal customer data was stolen in a recent cyberattack which has crippled online services.
Auto Finance News to present webinar on capital markets
Auto Finance News is pleased to offer the free webinar “Funding Strategies: From Warehousing to Private to ABS,” on Tuesday,…
F&I Sentinel to acquire cancellation tool from Cox Automotive
For the second time in a little more than a month, Cox Automotive is liquidating an asset. On Tuesday, F&I Sentinel announced it has reached a definitive agreement to acquire Express Recoveries from Cox Automotive. As part of the transaction, … [Read More]
Under the Hood: CFPB research exposes pricing confusion
A pricing report released last month by the Consumer Financial Protection Bureau revealed that consumers are confused when prices are…