Automotive News Finance and Insurance Feed http://www.autonews.com News, blogs and commentary from the leader in North American automotive news en-us Mon, 1 Sep 2014 06:00:00 EST Can't judge client's ability to pay http://www.autonews.com/article/20140901/RETAIL/140829853/cant-judge-clients-ability-to-pay Mon, 1 Sep 2014 00:01:00 EST I learned many years ago that you cannot be a judge of your customer's financial ability to purchase a vehicle. Is CFPB guilty of spin? http://www.autonews.com/article/20140827/BLOG13/308279993/is-cfpb-guilty-of-spin Wed, 27 Aug 2014 00:01:00 EST Remarks delivered by Consumer Financial Protection Bureau Director Richard Cordray and language used in a bureau statement last week were a lot harsher than the dry legalese of the consent order signed this month by the CFPB and First Investors... Is rise in Q2 loan delinquencies a turning point? http://www.autonews.com/article/20140827/FINANCE_AND_INSURANCE/308279999/is-rise-in-q2-loan-delinquencies-a-turning-point Wed, 27 Aug 2014 00:01:00 EST Industry-watchers insist that today's auto loan delinquency rates are low by historical standards. But a slight uptick in 30- and 60-day delinquencies in the second quarter could be a sign that the long decline in delinquencies could be reversing. FandI departments need a farm team http://www.autonews.com/article/20140827/FINANCE_AND_INSURANCE/308279998/fi-departments-need-a-farm-team Wed, 27 Aug 2014 00:01:00 EST The term 'succession planning' is usually applied to dealer principals, but it can apply to FandI managers, too. 'No evidence' of subprime auto loan bubble, Equifax economist says http://www.autonews.com/article/20140827/FINANCE_AND_INSURANCE/140829908/no-evidence-of-subprime-auto-loan-bubble-equifax-economist-says Wed, 27 Aug 2014 00:01:00 EST Equifax has joined other financial data crunching firms that dispute there's an alarming subprime auto loan bubble that's about to burst. The incentives debate: Who's being 'stupid'? http://www.autonews.com/article/20140825/RETAIL/140829944/the-incentives-debate-whos-being-stupid Mon, 25 Aug 2014 00:01:00 EST Some big rivals dismiss American Honda sales boss John Mendel's grim warning that extended loan terms and other strategies being employed by competitors hurt resale values, customer loyalty and ultimately profits. So who's right? Hyundai owner wins attorney fees in ruling http://www.autonews.com/article/20140825/LEGALFILE/308259994/hyundai-owner-wins-attorney-fees-in-ruling Mon, 25 Aug 2014 00:01:00 EST A Hyundai Santa Fe owner who won a lemon law suit against Hyundai Motor America is entitled to attorney fees for the time his lawyer spent to cancel third-party contracts for finance and insurance products, a New Jersey appeals court has ruled. CFPB takes new tack in auto lender crackdown http://www.autonews.com/article/20140825/OEM11/308259966/cfpb-takes-new-tack-in-auto-lender-crackdown Mon, 25 Aug 2014 00:01:00 EST The Consumer Financial Protection Bureau took a fresh approach to cracking down on auto lenders, citing one group for failing to furnish accurate customer data to credit reporting agencies. CFPB fines subprime lender First Investors Financial Services Group for sending credit bureaus inaccurate info http://www.autonews.com/article/20140820/FINANCE_AND_INSURANCE/140829989/cfpb-fines-subprime-lender-first-investors-financial-services-group Wed, 20 Aug 2014 12:30:00 EST The Consumer Financial Protection Bureau fined subprime auto lender First Investors Financial Services Group nearly $3 million for knowingly providing inaccurate information to credit reporting agencies for at least three years. Did dealers hurt themselves with the carve out? http://www.autonews.com/article/20140820/BLOG13/308209996/did-dealers-hurt-themselves-with-the-carve-out Wed, 20 Aug 2014 00:01:00 EST There's no mistaking that federal regulators are serious about policing auto lenders. By extension, auto dealers feel they've got a big target on their backs, too. %]