Finance and Insurance

JIM HENRY

Inquiry into alleged CFPB bias picks up steam

12:01 am U.S. ET | April 16, 2014
The issue of whether, ironically, the Consumer Financial Protection Bureau allegedly discriminates against its own employees has got legs.... Read More »

 

LINDSAY CHAPPELL

Brace yourself for 'velocity'

1:06 pm U.S. ET | April 16, 2014
There’s a new buzzword trending through the car business right now: velocity. It has been popping up in conversations and presentations for a while, and is on the lips of visitors here at the New York auto show. And it might be a good thing.... Read More »

 

NADA's fixed-rate plan gets lawyers' backing

12:01 am U.S. ET | April 16, 2014
The National Automobile Dealers Association's program for dealerships to establish a fixed rate for dealer reserve was strongly endorsed by legal experts at the Automotive Resource Network conference in New York this week.... Read More »

 

Ally IPO opens new options for subprime car loans

12:01 am U.S. ET | April 16, 2014
Ally Financial's initial public offering last week benefits dealers because Ally expects to be able to compete more aggressively for subprime business after it sheds government ownership.... Read More »

 

Subprime lender adds markets, resists looser standards

12:01 am U.S. ET | April 16, 2014
Subprime auto lender Consumer Portfolio Services is resisting a trend among some of its rivals to push “too aggressively” to loosen credit standards, CEO Charles Bradley says.... Read More »

 

Chrysler Capital offers perks for dealers' loyalty

12:01 am U.S. ET | April 14, 2014
Chrysler Capital has launched a dealer-loyalty program that offers participants longer car loans and lower rates but requires them to get a quote from Chrysler Capital for every customer loan.... Read More »

 

Battered doorstop makes the pitch: Get wheel protection

12:01 am U.S. ET | April 14, 2014
Finance and insurance professionals say sales of tire-and-wheel protection policies were higher in the first few months of 2014 than they were in 2013 as motorists contended this year with roads ravaged by one of the coldest, snowiest and iciest winters on record.... Read More »

 

Ally raises $2.38 billion in IPO priced at $25 a share

6:00 pm U.S. ET | April 9, 2014
Ally Financial raised $2.38 billion in its initial public offering after pricing the shares at the bottom of the proposed range. The shares, listed on the New York Stock Exchange under the symbol ALLY, fell 4 percent today to close at $23.98.... Read More »

 

RouteOne expects 2014 e-contract volume to double

12:01 am U.S. ET | April 9, 2014
RouteOne expects to more than double its electronic contract volume this year, to an estimated 1.6 million contracts, after more than tripling volume last year. The growth is coming from more lenders signing up as well as more volume from existing customers, RouteOne CEO Mike Jurecki says.... Read More »

 

Negative equity ticks up

12:01 am U.S. ET | April 9, 2014
More car customers are upside down at trade-in time, owing more on the trade-in vehicle than it's worth. Carrying negative equity on a trade-in vehicle makes it tougher for consumers to finance a new car because they have to borrow extra funds to pay off their old loan.... Read More »

 

CarMax ups F&I chargeback reserves, reflecting subprime growth

12:01 am U.S. ET | April 9, 2014
Public used-car specialist CarMax increased its reserves for chargebacks on extended service contracts and guaranteed asset protection policies in its latest fiscal quarter.... Read More »

 

ABA: Auto loan delinquencies flat in 4th qtr.

12:01 am U.S. ET | April 9, 2014
Auto-loan delinquencies were essentially flat at a low level in the fourth quarter of 2013, edging down very slightly from the same period a year earlier, according to data released today in the American Bankers Association Consumer Delinquency Bulletin.... Read More »

 

JIM HENRY

Misleading sales ads hurt F&I

12:01 am U.S. ET | April 9, 2014
State and federal regulators have cracked down this year on misleading dealership advertising. In just about every case, their complaint was that the advertising failed to adequately disclose financial terms or hidden costs.... Read More »

 

Ally Financial IPO means freedom to make more auto loans, more risk

6:40 am U.S. ET | April 9, 2014
The Treasury Department has had Ally Financial in a regulatory headlock since its 2008 bailout. As the government sells shares in an initial public offering, Ally will soon breathe again -- and take on more risk.... Read More »

 

Dealerships, lenders bolster compliance staffs in face of CFPB crackdown

12:01 am U.S. ET | April 2, 2014
Auto lenders and dealerships are strengthening their compliance staffs as the Consumer Financial Protection Bureau cracks down on lending practices. Lenders are beefing up to monitor dealerships more closely and dealerships are gearing up to face the added scrutiny.... Read More »

 

Ally Financial CEO Carpenter won't get pay hike, U.S. Treasury says

7:41 pm U.S. ET | April 2, 2014
The Obama administration is holding the total compensation unchanged this year for the head of bailed-out auto lender Ally Financial, the Treasury Department said on Wednesday.... Read More »

 

GM Financial, Ally swap corporate profiles

12:01 am U.S. ET | April 2, 2014
A new and much bigger GM Financial is emerging this year -- a global, mostly prime-risk auto lender that looks a lot like the old GMAC captive finance company.... Read More »

 

Auto finance outlook is good for 2014, report says

12:01 am U.S. ET | April 2, 2014
The outlook for auto finance this year is “mildly less positive” relative to extraordinarily favorable conditions, according to analysts for NADA Used Car Guide.... Read More »

 

JIM HENRY

Off-lease surge should spark even more leasing

12:01 am U.S. ET | April 2, 2014
Scheduled lease terminations are expected to grow again in 2014, providing a strong tailwind for additional leases this year and higher customer loyalty.... Read More »

 

LETTER TO THE EDITOR

Service contracts keep lives on track

12:01 am U.S. ET | March 31, 2014
Regarding "Extended service contract? Skip it, Consumer Reports tells readers," autonews.com, March 10: People in the auto industry are well aware of the arguments "experts" use to persuade people to avoid purchasing vehicle service contracts.... Read More »

 

LETTER TO THE EDITOR

Blame Uncle Sam for Sally's loan debt

12:01 am U.S. ET | March 31, 2014
Jesse Snyder's March 17 column, "Why Sally can't buy a new car," was full of facts but did not get to the root cause.... Read More »

 

JAMES B. TREECE

What's on dealers' minds -- and what's not

1:20 pm U.S. ET | March 28, 2014
ModeratorA small group of Florida dealers gathered last week at a Fort Lauderdale hotel to share best practices. What was unsaid intrigued me.... Read More »

 

Ally Financial IPO could generate $2.7 billion for U.S. Treasury

9:00 am U.S. ET | March 27, 2014
Ally Financial, the former GMAC auto lender rescued by the federal government during the 2008 financial crisis, is helping the Treasury Department divest its stake by seeking as much as $2.7 billion in an initial public offering.... Read More »

 

JIM HENRY

Ally takes step toward 'free at last' with IPO

12:01 am U.S. ET | March 27, 2014
It's been a long time coming, but Ally Financial finally filed for its initial public stock offering today -- another step in a long process toward becoming a truly independent company.... Read More »

 

JIM HENRY

CFPB, FTC Web sites differ in tone

12:01 am U.S. ET | March 26, 2014
While the Federal Trade commission and Consumer Financial Protection Bureau share a commitment to ensure consumers get a fair shake on auto finance, they gather and impart consumer information differently.... Read More »

 

Subscribe
Latest digital edition
Digital Edition Archive
Table of Contents
 Automotive News
Special Report
How a Texas Toyota store solved used-car-supply challenge

How a Texas Toyota store solved used-car-supply challenge

Mike Shaw Toyota in Corpus Christi, Texas, struggled to find good used cars. So it started providing free appraisals to service customers and offered to buy their vehicles on the spot. Mon., April 14
» Watch the Video
     
News by Brand


Rocket Fuel