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Captives go online to educate consumers

Some captives have put their lease-end education tools online to improve customer satisfaction with an experience that too often leaves consumers with questions.

Washington angles to check CFPB's power

Congressional efforts to limit the CFPB's power are moving in parallel with similar efforts by its leader.

Truck craze, tech stretch purse strings, auto loans

Americans' love of pricey pickups, crossovers and SUVs is stretching their wallets, leading lenders to bend over backward to keep monthly payments affordable.

UPDATED: 4/20/18 10:35 am ET - adds details
Wells Fargo fined $1 billion for auto loan, mortgage abuse

The settlement with the CFPB cites Wells Fargo's practice of forcing auto insurance on some customers who took out loans to buy new vehicles.


UPDATED: 4/19/18 2:48 pm ET - adds details
Tim Russi to leave Ally Financial

Tim Russi, the Ally Financial auto finance president who led many digital initiatives and helped expand the lender's dealership reach, is leaving the post, effective...

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UPDATED: 4/20/18 10:35 am ET - adds details
Wells Fargo fined $1 billion for auto loan, mortgage abuse

The settlement with the CFPB cites Wells Fargo's practice of forcing auto insurance on some customers who took out loans to buy new vehicles. Wells Fargo also will "remediate harmed consumers," the bureau said.

UPDATED: 4/19/18 2:48 pm ET - adds details
Tim Russi to leave Ally Financial

Tim Russi, the Ally Financial auto finance president who led many digital initiatives and helped expand the lender's dealership reach, is leaving the post, effective immediately.

UPDATED: 4/18/18 12:59 pm ET
U.S. Senate votes to repeal CFPB's auto-lending guidance

A resolution rescinding the Consumer Financial Protection Bureau's auto lending guidance, which aims to limit dealerships' retail margin on loans, passed by a narrow margin in the Senate. It will head to the House floor next for a vote.

CarMax captive's profit rises

Income at CarMax Auto Finance rose 22 percent in the latest quarter, despite a rise in the share of financings where the retailer paid a fee to outside lenders.

U.S. senate panel to repeal CFPB's auto lending rules, chief says

The U.S. Senate Banking Committee plans to repeal the Consumer Financial Protection Bureau's indirect auto lending and leveraged lending rules in coming weeks. The bureau in 2013 sought to limit loan markups and compensation for dealers on auto loans -- specifically on the basis of race, national origin, or credit score.

Captives go online to educate consumers

Some captives have put their lease-end education tools online to improve customer satisfaction with an experience that too often leaves consumers with questions.

Video meetings boost profits

John Eagle Auto Group in Dallas holds monthly video conferences to help F&I staff brainstorm ways to improve profits at its 12 Texas dealerships.

Early credit awareness will improve car-buying process

Most millennials and baby boomers say they understand their credit scores' influence on vehicle financing, according to an Equifax survey. Still, dealerships, lenders and credit bureaus should take more initiative to educate consumers before they visit the dealership, Equifax experts say.


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