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CFPB future grows cloudy under Trump appointments

The future of the Consumer Financial Protection Bureau is becoming more complicated. Along with the U.S. Court of Appeals' call to restructure the agency, President-elect Donald Trump's recent appointments could signal a challenge for the agency.

 

Rise in delinquencies tied to subprime, analysts say

Subprime auto loans are showing “signs of distress” in terms of higher delinquencies, analysts for the New York Federal Reserve say.

AutoNation's move into branded F&I products brings profit payoff

CEO Mike Jackson credits AutoNation's consistent gains in F&I gross profit to its branded product line. AutoNation began selling private-label F&I

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Credit unions improve dealer ties, grab share

Credit unions on CU Direct's auto lending network as a group have become the second largest auto financing source, knocking Ally Financial to the No. 3 spot, CU Direct said last week.

Ford Credit learns from closed shared-lease pilot

Ford Credit's shared-lease pilot program in Austin, Texas, has closed, CEO Joy Falotico told Automotive News. She said the captive will apply what it has learned from the pilot as it develops more experiments tailored to the so-called sharing economy.

Mobile leasing app expands its dealership reach

Mobile leasing app Honcker, officially launched mid-November, has signed more than 200 new-car dealerships in five states onto its leasing platform. The app enables consumers to strike a lease deal without entering a showroom.

AutoNation's move into branded F&I products brings profit payoff

CEO Mike Jackson credits AutoNation's consistent gains in F&I gross profit to its branded product line. AutoNation began selling private-label F&I products at its stores at the end of last year and online in the first quarter of 2016. Ninety percent of AutoNation customers choose AutoNation branded F&I products, Jackson said.

Markup checks bring charges

The former general manager of Ford Motor and Fiat Chrysler dealerships in Jasper, Ala., faces prison, a $250,000 fine and $914,000 in restitution if convicted of conspiracy, bank fraud and wire fraud in an alleged scheme to rip off the stores.

49 dealers nominated for Time magazine award

Forty-nine U.S. auto dealers have been nominated by automotive trade associations for the 2017 Time Dealer of the Year award. The nominees were announced by Time and Ally Financial, the sponsor.

Subprime auto lenders tighten up

The latest data from Standard & Poor's confirm that subprime auto loans are becoming a little harder to get. The company said some subprime lenders have dialed back on originations, moved up the credit scale, or tightened restrictions on loan structures.

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