SubPrime Auto Finance News Staff

Ally Financial made a move on Tuesday to ensure a smooth transition involving one of the highest positions at the company. Ally announced that Jenn LaClair will be joining the company as chief financial officer designate, effective Monday, with the intent that she be appointed to succeed the company’s CFO, Chris... Read More

SubPrime Auto Finance News Staff

On Tuesday, Fiserv finalized a partnership with TransUnion to improve price, decision accuracy and expand the customer base within the automotive finance space. Officials highlighted integrating the automotive loan origination system from Fiserv with CreditVision Link from TransUnion will help increase precision of... Read More

New roles for 2 executives at Toyota’s captive

SubPrime Auto Finance News Staff

Among seven executive changes made by Toyota across its North American operations, two involve top leaders at the automaker’s captive finance company. Effective Jan. 1, the company said in a recent announcement that Scott Cooke will be group vice president and chief risk officer at Toyota Financial Services (TFS),... Read More

SubPrime Auto Finance News Staff

FICO is hosting a free webinar to sort through the details of an important accounting change that might be giving auto finance companies grief in meeting new standards that change how institutions account for expected credit losses. FICO experts plan to explain the Current Expected Credit Loss (CECL) requirements... Read More

Nick Zulovich, Senior Editor

Even before the wrangling over who will lead the Consumer Financial Protection Bureau intensified earlier this week, Craig Nazzaro emphasized that the heavy compliance lifting done by auto finance companies still has plenty of value. Nazzaro, who is of counsel in the Atlanta office of Nelson Mullins Riley &... Read More

SubPrime Auto Finance News Staff

The evidence continues to mount showing how much auto finance companies are tightening their underwriting and slowing the volume of subprime paper they're adding to their portfolios. Experian Automotive reported on Thursday that the number of consumers outside prime (with a credit score of 600 or below) notably... Read More

Dylan Howard, Baker Donelson

Having increased in number each of the past seven years, lawsuits alleging violations of the Telephone Consumer Protection Act of 1991 (TCPA) continue to plague the consumer finance industry. As should be expected with an already complex statutory scheme, recent decisions have had a decidedly mixed effect, increasing... Read More

Nick Zulovich, Senior Editor

The flurry of activity associated with the Consumer Financial Protection Bureau, its leadership and the regulation of auto financing intensified again this week. On Tuesday, Washington D.C. District Court Judge Timothy Kelly scheduled preliminary injunction hearing for Dec. 22 as the court clash continues between Mick... Read More

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