Podcast: ‘Weekly Wrap’ on AI adoption, affordability
Optimizing efficiency, improving accuracy and customer experience, and automating credit decisions are core uses of artificial intelligence in the auto…
Trump nominates a new CFPB head, but Vought isn’t going anywhere
President Donald Trump nominated Stuart Levenbach to be director of the Consumer Financial Protection Bureau, according to a Congressional website,…
FTC seeks additional annual funding for employees & IT resources
Coinciding with the Supreme Court ruling that the Consumer Financial Protection Bureau’s funding process is constitutional, the Federal Trade Commission went to Congress last week seeking additional annual funding for its personnel and resources. Chair Lina Khan appeared before the … [Read More]
EFG adds experienced trio to key dealer profitability positions
EFG Companies has added three senior executives with more than 70 years of experience in retail automotive sales and F&I management combined. Joining the firm recently named as a USA Today National Standard Top Employer are: —Adam Fifield as vice … [Read More]
Bracing for impact: Auto lenders respond to tariff uncertainty
The auto industry is benefiting from short-term sales demand driven in part by looming tariffs, but is bracing for the…
14 potential changes surface from CFPB ombudsman post-examination survey
Perhaps one segment of the annual report generated by the ombudsman of the Consumer Financial Protection Bureau might be of particular interest to auto finance companies and their compliance departments. During the last fiscal year, the CFPB ombudsman launched its … [Read More]
Captive total auto finance share surpasses 30%
Captives continued to hold the largest share of the overall auto finance market in the second quarter, driven by incentives,…
American Honda CPO vehicle sales growth outpaces industry at 16%
American Honda’s certified pre-owned vehicle sales growth outpaced the industry average as the company expanded the program to incorporate older…
Startup Yendo raises $165M, expands to refi
Startup Yendo has raised $165 million in debt and equity financing to grow originations as the company today expanded its…
MBSi unveils new tool to automatically verify lienholder changes to avoid wrongful repossessions
With wrongful repossessions costing finance companies and forwarders up to an estimated $1 million annually, MBSi has introduced a solution which significantly reduces lien lost risk and associated costs. MBSi highlighted on Tuesday that Lien Verification is a new product … [Read More]
Ironhorse seeks funding as originations double
Powersports lender Ironhorse Funding wants to establish additional forward-flow funding agreements as it plans to more than double its monthly…
Dealership F&I revenue varies in Q4
Retailers’ finance and insurance revenue was mixed in the fourth quarter as floorplan interest expense jumped at every major retailer…
RV dealers say rate cuts needed as cash flow tightens
RV dealers’ outlook hinges on more Federal Reserve interest rate cuts as high RV loan rates soften consumer demand and…
Cox Automotive spots 6 troubling trends from June auto-finance performance
Being a music aficionado and chief economist, Cox Automotive’s Jonathan Smoke could have included some woeful blues tracks when he highlighted six points about the current performance of auto financing in his Auto Market Weekly Summary. While not mentioning songs … [Read More]
Hertz misses estimates on EV fleet rethink, plans cost cuts
Hertz Global Holdings Inc. is looking to cut costs after it missed analysts’ fourth-quarter estimates as it sold down its fleet of…