SubPrime Auto Finance News Staff

The Federal Trade Commission flexed its regulatory muscle again this week. Officials said a southern California-based dealership group will pay $1.4 million to settle FTC charges that it violated a 2014 administrative order prohibiting the company from misrepresenting how much consumers could pay to finance or lease a... Read More

SubPrime Auto Finance News Staff

Coinciding with the finance company’s enhanced relationship with Carvana, Ally Financial on Wednesday announced that Dinesh Chopra has joined the company as its new chief strategy officer. In his newly created role Chopra will lead Ally’s corporate strategy team, helping to foster its growth and evolution as... Read More

SubPrime Auto Finance News Staff

Andrew Stuart, president and chief executive officer of TD Auto Finance, was among three recipients of a 2017 American Financial Services Association Distinguished Service Award (DSA) during AFSA’s 101st annual meeting. The other two executives given the association’s highest honor included Scarlett Smith,... Read More

Interest rate rise in December appears likely

Nick Zulovich, Senior Editor

With the Federal Reserve again passing on the chance to move interest rates higher this month, S&P Global Ratings is expecting the Federal Open Market Committee to tick the target range for the federal funds rate up by 25 basis points in December. Coinciding with the announcement of a new Fed chair coming in 2018 if... Read More

Nick Zulovich, Senior Editor

President Trump followed through this week by signing H.J. Res. 111, which nullifies the Consumer Financial Protection Bureau's rule prohibiting the use of a pre-dispute arbitration agreement to prevent a consumer from filing or participating in certain class action suits. The final step in the process of canceling... Read More

SubPrime Auto Finance News Staff

The fight against fraud in auto finance continued last week. PointPredictive held its second Auto Lending Fraud Roundtable last week in Dallas with finance companies representing 48 percent of total automotive originations in the U.S. They met to further collaborate on progressing finance companies’ fight against... Read More

SubPrime Auto Finance News Staff

Black Book rolled out a new solution on Wednesday meant to mitigate the stress — perceived and actual — that lease providers might have about residual values. Black Book release its new economic scenario-based residuals that’s now available to finance companies and other institutions with a portfolio... Read More

SubPrime Auto Finance News Staff

The Consumer Financial Protection Bureau recently offered its assessment regarding a potential information path auto finance company collectors and recovery professionals might use during the skip-tracing process to mitigate delinquencies and potential charge-offs. The CFPB outlined seven principles for when consumers... Read More

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