Automotive News Finance and Insurance Feed http://www.autonews.com News, blogs and commentary from the leader in North American automotive news en-us Sat, 19 Apr 2014 06:00:00 EST Inquiry into alleged CFPB bias picks up steam http://www.autonews.com/article/20140416/BLOG13/304179998/inquiry-into-alleged-cfpb-bias-picks-up-steam Wed, 16 Apr 2014 00:01:00 EST The issue of whether, ironically, the Consumer Financial Protection Bureau allegedly discriminates against its own employees has got legs. Brace yourself for 'velocity' http://www.autonews.com/article/20140416/BLOG06/140419845/brace-yourself-for-velocity Wed, 16 Apr 2014 13:06:12 EST 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. NADA's fixed-rate plan gets lawyers' backing http://www.autonews.com/article/20140416/FINANCE_AND_INSURANCE/140419920/nadas-fixed-rate-plan-gets-lawyers-backing Wed, 16 Apr 2014 00:01:00 EST 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. Ally IPO opens new options for subprime car loans http://www.autonews.com/article/20140416/FINANCE_AND_INSURANCE/304169999/ally-ipo-opens-new-options-for-subprime-car-loans Wed, 16 Apr 2014 00:01:00 EST 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. Subprime lender adds markets, resists looser standards http://www.autonews.com/article/20140416/FINANCE_AND_INSURANCE/304169998/subprime-lender-adds-markets-resists-looser-standards Wed, 16 Apr 2014 00:01:00 EST 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. Chrysler Capital offers perks for dealers' loyalty http://www.autonews.com/article/20140414/FINANCE_AND_INSURANCE/304149963/chrysler-capital-offers-perks-for-dealers-loyalty Mon, 14 Apr 2014 00:01:00 EST 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. Battered doorstop makes the pitch: Get wheel protection http://www.autonews.com/article/20140414/FINANCE_AND_INSURANCE/304149962/battered-doorstop-makes-the-pitch-get-wheel-protection Mon, 14 Apr 2014 00:01:00 EST 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... Ally raises $2.38 billion in IPO priced at $25 a share http://www.autonews.com/article/20140409/FINANCE_AND_INSURANCE/140409809/ally-raises-2-38-billion-in-ipo-priced-at-25-a-share Wed, 9 Apr 2014 18:00:19 EST 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. RouteOne expects 2014 e-contract volume to double http://www.autonews.com/article/20140409/FINANCE_AND_INSURANCE/304099998/routeone-expects-2014-e-contract-volume-to-double Wed, 9 Apr 2014 00:01:00 EST 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. Negative equity ticks up http://www.autonews.com/article/20140409/FINANCE_AND_INSURANCE/140409836/negative-equity-ticks-up Wed, 9 Apr 2014 00:01:00 EST More car customers are upside down at trade-in time, owing more on the trade-in vehicle than it's worth.