Automotive News Finance and Insurance Feed http://www.autonews.com News, blogs and commentary from the leader in North American automotive news en-us Wed, 17 Sep 2014 06:00:00 EST Banco Santander acquires Canada's Carfinco for $269 million http://www.autonews.com/article/20140916/FINANCE_AND_INSURANCE/309169936/banco-santander-acquires-canadas-carfinco-for-269-million Tue, 16 Sep 2014 11:49:21 EST Banco Santander SA agreed to buy Canadian car-financing company Carfinco Financial Group for about $269 million. Captives likely to get CFPB oversight http://www.autonews.com/article/20140916/FINANCE_AND_INSURANCE/140919872/captives-likely-to-get-cfpb-oversight Tue, 16 Sep 2014 16:35:07 EST The Consumer Financial Protection Bureau is expected to issue an important new rule on Thursday defining which nonbank lenders -- including captive finance companies -- will be considered 'larger participants' and thus subject to CFPB... U.S. Treasury trims Ally stake further http://www.autonews.com/article/20140912/FINANCE_AND_INSURANCE/140919923/u-s-treasury-trims-ally-stake-further Fri, 12 Sep 2014 17:19:56 EST The Treasury started a second trading plan to cut its stake in Ally Financial. After completing its first plan, it now holds 66.2 million shares of Ally's common stock, a statement said on Friday. That's 13. For GM Financial, closer GM ties could mean cheaper funds http://www.autonews.com/article/20140910/FINANCE_AND_INSURANCE/140919990/for-gm-financial-closer-gm-ties-could-mean-cheaper-funds Wed, 10 Sep 2014 11:00:00 EST General Motors always intended to build GM Financial, formerly subprime lender AmeriCredit, into a full-service captive finance company. Cheap deals drive leasing to new high http://www.autonews.com/article/20140910/FINANCE_AND_INSURANCE/140919988/cheap-deals-drive-leasing-to-new-high Wed, 10 Sep 2014 11:00:00 EST Cheap lease deals helped drive the lease penetration rate to a new high in the second quarter of 2014, according to Experian Automotive. For subprime lender, success is about dealer service http://www.autonews.com/article/20140910/FINANCE_AND_INSURANCE/140919989/for-subprime-lender-success-is-about-dealer-service Wed, 10 Sep 2014 11:00:00 EST Southern Auto Finance Co., a small, regional subprime lender in Fort Lauderdale, Fla. Regulation forecast calls for rain, former CFPB exec says http://www.autonews.com/article/20140910/BLOG13/309119999/regulation-forecast-calls-for-rain-former-cfpb-exec-says Wed, 10 Sep 2014 11:00:00 EST Rick Hackett, a former assistant director for the Consumer Financial Protection Bureau who was the bureau's liaison to the auto finance industry, predicted the bureau would probably unveil a long-awaited rule next week, defining which nonbanks fall... FandI wait times have virtual repercussions http://www.autonews.com/article/20140910/BLOG13/309119998/fi-wait-times-have-virtual-repercussions Wed, 10 Sep 2014 11:00:00 EST Dealerships know that customer satisfaction suffers if car buyers spend time sitting outside the FandI office. Pay disparities are hurting morale, dealership retention, expert warns http://www.autonews.com/article/20140910/FINANCE_AND_INSURANCE/140919980/pay-disparities-are-hurting-morale-dealership-retention-expert-warns Wed, 10 Sep 2014 11:45:57 EST Rising disparities in pay between the FandI and sales departments are leading to morale problems and high turnover at dealerships, a noted FandI authority said at a conference in Las Vegas. Subprime auto probe fails to restrain bond rush http://www.autonews.com/article/20140910/FINANCE_AND_INSURANCE/140919982/subprime-auto-probe-fails-to-restrain-bond-rush Wed, 10 Sep 2014 11:21:43 EST The federal probe into auto loans made to people with spotty credit is doing little to derail sales of bonds backed by the debt, even as investors demand more to own the riskiest pieces. %]