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Mercedes-Benz Financial leads in dealer satisfaction, J.D. Power finds

8:00 am U.S. ET | July 27, 2015 | UPDATED: 7/28/15 1:40 pm ET - corrected
Mercedes-Benz Financial Services ranks No. 1 among auto lenders in terms of dealerships' satisfaction with lenders' services, according to a study released today by J.D. Power.... Read More »
 
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Uber, Santander end car-loan partnership

3:20 pm U.S. ET | July 23, 2015
The partnership between Uber Technologies and Banco Santander SA's U.S. auto loan unit has ended, Uber says, removing one of the country's most prominent car lenders from a program trumpeted by the app-based ride service.... Read More »


Chase Auto, Wells Fargo see rise in Q2 loan originations

11:30 am U.S. ET | July 22, 2015
Auto loan originations are rising at two of the nation’s biggest banks in auto lending. Chase Auto Finance and Wells Fargo generated more loans during the second quarter, although the growth in lending was bigger at Chase.... Read More »


HANNAH LUTZ

How Honda Finance’s settlement could be a win for all retailers

11:30 am U.S. ET | July 22, 2015
At face value, the consent order between Honda Finance and the CFPB over lending practices doesn’t seem like a gift to retailers industrywide, but it could be.... Read More »


Sonic rethinks the appeal of captive finance arm

11:30 am U.S. ET | July 22, 2015
Wary of regulators, Sonic Automotive is slowing its plans to establish a captive finance arm. The Consumer Financial Protection Bureau’s investigations and citations of automakers’ finance arms have given Sonic pause.... Read More »


A safer way to offer credit repair

11:30 am U.S. ET | July 22, 2015
New York's crackdown on dealerships and vendor Credit Forget It last month for a credit repair product the state considers illegal likely spurred some auto retailers to back away from credit repair altogether.... Read More »


Subprime auto-lending veteran calls longer loan maturities new normal

11:30 am U.S. ET | July 22, 2015
The man who created one of the biggest U.S. subprime lenders says there's nothing dangerous about borrowers being given longer car loans.... Read More »


NEWS ANALYSIS

What Honda-U.S. settlement changes

12:01 am U.S. ET | July 20, 2015
The federal government's settlement with American Honda Finance Corp. for alleged discriminatory auto lending was a smaller victory for the regulators than it first appeared.... Read More »


 
BY THE NUMBERS 
 

AutoNation CEO endorses CFPB, Honda Finance pact

12:01 am U.S. ET | July 20, 2015
AutoNation CEO Mike Jackson has endorsed the settlement between the Consumer Financial Protection Bureau and American Honda Finance for preventing discrimination in auto finance, calling the agreement a “workable template” that other...... Read More »


When CFPB, dealers meet, sparks fly

12:01 am U.S. ET | July 20, 2015
When a CFPB official addressed dealers directly for the first time in public, the exchanges were pointed. Here's how it went at the annual conference of the National Association of Minority Automobile Dealers.... Read More »


CFPB, Justice talk straight to minority dealers

11:30 am U.S. ET | July 15, 2015
After a senior CFPB official and a Justice Department colleague spoke at the recent National Association of Minority Automobile Dealers conference, the Q&A session sometimes got testy. Here's how it went.... Read More »


Regulators urge captives to follow Honda Finance's lead

11:30 am U.S. ET | July 15, 2015
Regulators are urging other captive finance arms to follow the lead of American Honda Finance after it entered into a settlement on Tuesday that will see it limit dealer reserve and pay $24 million to consumers harmed by alleged auto-lending...... Read More »


HANNAH LUTZ

In dealer-reserve debate, CFPB, NADA and American Honda Finance strive to move ball

11:30 am U.S. ET | July 15, 2015
The debate over dealer-arranged auto loans has taken on new dimensions in recent weeks with various stakeholders seeking the upper hand.... Read More »


New York dealerships to pay more than $300,000 in deceptive advertising, fraud settlement

11:30 am U.S. ET | July 15, 2015
The New York Attorney General’s Office reached a settlement Tuesday requiring 23 dealerships in the New York area -- the Atlantic Auto Group’s 22 stores and Hyundai of White Plains -- to pay restitution and penalties to resolve false...... Read More »


FTC, dealerships settle price-misrepresentation charges

11:30 am U.S. ET | July 15, 2015
In the past three months, the Federal Trade Commission has approved final consent orders involving five dealerships and one loan-acceleration provider for misrepresenting vehicle and add-on costs.... Read More »


F&I positions mesh with millennial mindset

12:01 am U.S. ET | July 13, 2015
Finance and insurance departments tend to have less trouble recruiting and retaining millennial staffers than sales departments.... Read More »


What's holding up e-contracting?

12:01 am U.S. ET | July 13, 2015
E-contracting speeds funding to dealerships, provides a more efficient customer experience and improves stores' F&I operations. And its use has grown since the technology began creating buzz in the mid-1990s.... Read More »


Path to positive equity grows, but don't panic

12:01 am U.S. ET | July 13, 2015
The time it takes for consumers with new-car loans to reach a positive equity position on their vehicles has grown by 12 to 14 months over the past 15 years, but that's not necessarily a bad thing, says Steven Szakaly, chief economist for the...... Read More »


Toyota Financial CEO, CFO take on added duties

10:49 am U.S. ET | July 10, 2015
Toyota Financial announced globally expanded roles for two of its top executives, Mike Groff, president and CEO, and Chris Ballinger, senior vice president and CFO.... Read More »


Millennials embrace F&I jobs, spark change

12:30 pm U.S. ET | July 8, 2015
Finance and insurance departments tend to have less trouble recruiting and retaining millennial staffers than sales departments.... Read More »


Path to positive equity grows

12:15 pm U.S. ET | July 8, 2015
The time it takes for consumers with new-car loans to reach a positive equity position on their vehicles has grown by 12 to 14 months over the past 15 years, but that's not necessarily a bad thing, says Steven Szakaly, chief economist for the...... Read More »


What's holding up e-contracting?

12:30 pm U.S. ET | July 8, 2015
In an increasingly digital world where auto dealerships, and their customers, seek the most efficient, error-free F&I process, the use of electronic contracts is growing, but they're not yet the norm.... Read More »


HANNAH LUTZ

Has high court raised bar for CFPB in auto bias cases?

12:01 am U.S. ET | July 8, 2015
From the outside, the Supreme Court's ruling last month upholding disparate impact claims in housing discrimination lawsuits may look like a headache for auto dealers, but a provision in the decision could give the Consumer Financial Protection...... Read More »


Toyota Financial resists CFPB

12:01 am U.S. ET | July 6, 2015
Toyota Financial Services said it has no plans to change its use of dealer reserve, despite scrutiny from the Consumer Financial Protection Bureau.... Read More »


18 months later, checks will be coming to Ally customers

12:01 am U.S. ET | July 6, 2015
In a 2014 settlement over alleged discriminatory lending, Ally paid $80 million and listed consumers that might have been affected.... Read More »