US jobs report points to gradual moderation in labor market
US job growth moderated in May and the prior months were revised lower, indicating employers are cautious about growth prospects…
‘Bust out’ auto fraud schemes lead to millions in losses
In an elaborate auto scheme, scammers are taking advantage of credit bureau delays to fraudulently finance hundreds of cars and…
InsightLPR confirms launch coming at NARS 2022
When InsightLPR unveiled its five-person executive team last month, the technology company providing proprietary license plate recognition (LPR) software, hardware and data products to help companies increase their value said it would be rolling out its solutions at the North … [Read More]
American Honda Finance issues largest ABS deal in 16 years
American Honda Finance Corp. has issued its second auto asset-backed securitization deal of the year, the largest prime transaction since…
E-contracting origination volume jumps 28%
The adoption of electronically originated auto loans slowed sequentially in the third quarter but remained elevated on a year-over-year basis,…
GM suspends guidance, freezes share buyback on Trump tariffs
General Motors Co. is pulling earnings guidance for 2025 and putting $4 billion in share buybacks on hold until it…
Capital One leans into auto growth, eyes tariffs
Capital One Auto Finance’s originations climbed in the first quarter as the bank leaned into growth of its auto business…
3 economists upbeat about current employment scene
Cox Automotive chief economist Jonathan Smoke as well as Comerica Bank chief economist Bill Adams and senior economist Waran Bhahirethan offered perhaps some reassuring assessments of what the overall employment landscape looks like. All three shared their perspectives ahead of … [Read More]
Banks celebrate key court victory against CFPB
College football teams weren’t the only ones claiming victories in Texas on Saturday. The American Bankers Association (ABA), the Consumer Bankers Association (CBA), the Texas Bankers Association, the U.S. Chamber of Commerce and several other co-plaintiffs cheered the decision by … [Read More]
Fed: Incentives pick up as auto sales fall flat
Automotive retail sales were mostly flat in April as manufacturers continued to offer incentives to spur sales amid affordability concerns…
Axis Auto homeowner loan apps up 47% as credit tightens
Homeowners pose an opportunity for auto lenders in the Canadian market as tightened credit standards and high interest rates limit…
Consumers eager to buy cars as credit availability & portfolio trends soften
Despite tighter credit availability and one view of delinquencies showing them higher now than before the pandemic, at least one consumer-driven economic reading showed that people are eager to buy a car. In this economic roundup from three different sources, … [Read More]
Podcast: Pre-tariff car prices hold, Q1 earnings kick off
Credit access improved and vehicle prices were steady in March before tariffs took effect, while the first wave of first-quarter…
Nissan CFO set to step down as carmaker faces raft of challenges
Nissan Motor Co. Chief Financial Officer Stephen Ma is set to step down from his position, people with knowledge of…
Ally Financial names Mehlman first chief legal, corporate affairs officer
Hope Mehlman has been appointed to serve as Ally Financial’s first chief legal and corporate affairs officer, effective Dec. 2. …