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VantageScore generates record 41.7 billion credit scores in 2024

The latest Charles River Associates analysis released on Monday showed that VantageScore credit score usage is up sharply by 55% year-over-year to a record 41.7 billion credit scores delivered in 2024. That’s up from 26.9 billion in 2023, as lenders … [Read More]

Driving Innovation in Automotive Refunds: How Onbe and Allied Solutions Are Modernizing the Payment Experience

Is your refund strategy ready for a trade-in? Every year, automotive lenders issue millions of payouts for loan overpayments, lease…

Ford Credit earnings pressed by credit costs, falling auction values

Ford Credit earnings before taxes saw pressure in 2023 as credit costs remained elevated and auction values dropped, even as…

CFPB brings its own enforcement action involving credit repair

A couple of days after the Federal Trade Commission handed out penalties associated with credit repair, the Consumer Financial Protection Bureau (CFPB) took similar actions involving the same topic last week, too. The CFPB filed a proposed order to resolve … [Read More]

Used-vehicle values rise 2% in September

Wholesale used-vehicle prices rose year over year in September, while used-car sales fell and inventory ticked up. The Manheim Used…

FTC sees annual fraud figure jump by more than 30%

Newly released Federal Trade Commission data showed that consumers reported losing nearly $8.8 billion to fraud in 2022, an increase of more than 30% year-over-year. The FTC said consumers reported losing more money to investment scams — more than $3.8 … [Read More]

Riders Share’s Google search traffic falls 40% as AI surges

COLUMBUS, Ohio — Motorcycle rental company Riders Share has seen a 40% decline in Google search traffic as consumers switch…

Edmunds modifies auto finance data collection, as Q3 metrics keep rising

Edmunds said its analysts have adjusted their auto finance data cleaning process to include new and used monthly payments up to $2,000 to account for changes to the market, as previously the limit was up to $1,500. Based on the … [Read More]

3 repo organizations reiterate definitions of 8 key industry terms

Earlier this year, a joint announcement from three of the largest repossession organizations — Allied Finance Adjusters, American Recovery Association and Eagle Group XX — reiterated their definitions of eight key terms associated with vehicle repossessions and recoveries. Especially considering … [Read More]

Upstart rolls out additional refi automation

AI-driven lending platform Upstart is investing in auto refinance technology to allow consumers to complete the process without uploading documents…

Title Twins gain more capability through West Virginia’s Clearinghouse

Twin sisters Tracie Lane and Molly Johnson established Washington State Titling Services almost a year ago because of the challenges they experienced working at dealerships in the Northwest. This week, the pair said their sister company — the Title Twins … [Read More]

GM Financial lease return rates, lease originations rise YoY

Improved penetration rates contributed to an uptick in GM Financial’s lease originations in the fourth quarter as loan production was…

5 questions about bankruptcies & repossessions with Weltman, Weinberg & Reis

Weltman, Weinberg & Reis shareholders Milos Gvozdenovic and Scott Fink recently answered five top questions associated with bankruptcies and vehicle repossessions, which can become even more complex when those circumstances intersect. “When it comes to auto loans and financing, a … [Read More]

Stringent incentive requirements challenge Stellantis dealers

Tight incentive requirements are making it difficult for Stellantis dealers to push leases despite Stellantis Financial Services’ portfolio growth in…

FTC distributing more than $3.5M to consumers harmed by ‘The Credit Game’

The Federal Trade Commission basically said, “Game over,” in connection with what officials dubbed a credit-repair scheme called, “The Credit Game.” The FTC recently announced it is sending more than $3.5 million in refunds to consumers harmed by the operation. … [Read More]

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