Banking and Lending

JIM HENRY

Did dealers hurt themselves with the carve out?

12:01 am U.S. ET | Aug. 20, 2014
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....
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JIM HENRY

The New York Times editorial got it wrong

12:01 am U.S. ET | Aug. 18, 2014
An editorial in the Saturday, Aug. 9, issue of The New York Times made unreasonable demands on dealers and automotive lenders while grossly misrepresenting automotive lending....
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JIM HENRY

N.Y. Times' demands are misguided

12:01 am U.S. ET | Aug. 13, 2014
Subprime auto loans have gotten most of the attention, but an editorial in The New York Times on Saturday makes other demands dealers and lenders are sure to dislike....
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Lenders wary of feds' scrutiny

12:01 am U.S. ET | Aug. 11, 2014
The U.S. Department of Justice sent subpoenas to the two largest issuers of securities based on subprime auto loans, leaving other subprime lenders to wonder what the agency is looking for and who might be subpoenaed next....
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JAMES B. TREECE

GM Financial subpoena shifts investigation away from dealers

12:01 am U.S. ET | Aug. 6, 2014
When dealers saw headlines saying the U.S. Department of Justice had subpoenaed GM Financial ast month to produce documents relating to its subprime auto loan contracts, they could be excused for worrying that this represented another threat to their arranging car loans for consumers....
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2014 MANAGEMENT BRIEFING SEMINARS

Auto sales would be higher in 'normal' recovery, researcher says

12:24 pm U.S. ET | Aug. 5, 2014
If this were a normal recovery, the auto industry should be selling a lot more cars than it is this year, says an economist. But this is no normal recovery, said Itay Michaeli, director of Citi Investment Research and Analysis....
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LARRY P. VELLEQUETTE

Why a squeeze is coming to auto dealers

10:28 am U.S. ET | Aug. 5, 2014
Take note: there is a squeeze coming to an auto dealer near you. Two important factors to new automotive sales -- low interest rates and relatively high values for used automobiles – are forecast to move in unwelcome directions....
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Outstanding U.S. auto loans hit all-time high, Equifax says

1:58 pm U.S. ET | July 24, 2014
Total outstanding auto loans in the United States hit an all-time high of $902 billion this spring, an increase of more than 10 percent from the same time a year earlier, according to the latest Equifax National Consumer Credit Trends Report....
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JIM HENRY

N.Y. Times story on subprime offers feds ammunition

12:01 am U.S. ET | July 23, 2014
A withering account of subprime auto lending in Sunday's New York Times reinforces bad stereotypes about used-car dealers, smears subprime lenders and their investors, takes out of context an increase in delinquencies and loan losses from record lows, and provides ammunition to auto finance industry critics in Washington....
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JIM HENRY

Credit union ads highlight misperceptions of dealer reserve

12:01 am U.S. ET | July 16, 2014
A Florida credit union's ad campaign beating up dealers and auto lenders for “rate markups” is hard to look at, but dealers and lenders should check it out to see what they're up against in terms of public perception and in case the approach catches on in other states....
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JIM HENRY

Why buy-here, pay-here is losing some turf

12:01 am U.S. ET | July 9, 2014
More consumers are passing up offers from buy-here, pay-here stores in favor of cheap financing by some franchised new-car dealerships, one giant used-car retailer says....
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JIM HENRY

Don't do much leasing? Better bone up

12:01 am U.S. ET | July 2, 2014
Leasing's not just for luxury brands anymore. It's spreading to mass-market brands too, experts say....
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JUNE U.S. AUTO SALES

U.S. sales advance 1% on Chrysler, Nissan, Toyota gains

8:00 am U.S. ET | July 1, 2014
Light-vehicle sales, led by Chrysler Group, Nissan and Toyota, rose 1 percent last month, exceeding many projections and helping the auto industry end the first half of 2014 on an unexpected upswing. The annualized sales rate surged to 17 million, easily topping forecasts, from 15.9 million a year earlier and just above May's 16.8 million rate....
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JIM HENRY

Ally moves closer to independence, cheaper money

12:01 am U.S. ET | June 25, 2014
Ally Financial will move one step closer toward independence from government ownership next month when two of its three remaining board members nominated by the U.S. Treasury step down from the board....
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TI Automotive plans debt-fueled dividend for hedge fund owners, report says

8:20 am U.S. ET | June 21, 2014
TI Automotive’s hedge fund owners that include Oaktree Capital Group LLC will reap a $435 million dividend by saddling the longtime auto supplier with more debt for the second time in two years....
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JIM HENRY

Who makes irrational loans? Not Me

12:01 am U.S. ET | June 18, 2014
Are the gremlins at it again in auto loans? Maybe they're to blame for so-called irrational competition, presumably the result of lenders making unprofitable loans to gain market share....
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Highlights from the 'Car Wars' report

12:01 am U.S. ET | June 16, 2014
Fiat Chrysler Automobiles goal of a 4-point share gain by 2018 is 'unattainable,' and General Motors will rely heavily on crossovers, according to the Bank of America Merrill Lynch 'Car Wars' report. Here are some highlights....
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18 million sales in 2018? Now that's some epic growth!

12:01 am U.S. ET | June 16, 2014
The auto industry is in quite the growth spurt if Bank of America Merrill Lynch analyst John Murphy is right....
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Share will hinge on makers' product pace

12:01 am U.S. ET | June 16, 2014
Ford Motor Co. and Honda Motor Co. lost more U.S. market share than any other automakers so far this year. But that may soon change, according to this year's "Car Wars" report from Bank of America Merrill Lynch....
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JIM HENRY

U.S. House action on CFPB is symbolic

12:01 am U.S. ET | June 11, 2014
The auto finance industry, auto dealers, and their mostly Republican allies in Congress continue to make it clear they don’t like the Consumer Financial Protection Bureau or how it was set up in 2010....
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JIM HENRY

Lender consent order grants insight into FTC

12:01 am U.S. ET | June 4, 2014
Dealers and their legal counsels should check out last week's consent order between subprime auto lender Consumer Portfolio Services and the Federal Trade Commission, even though the case isn't about dealerships....
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JIM HENRY

NADA's take on 'The Fallacy of Flats'

12:01 am U.S. ET | May 28, 2014
The National Automobile Dealers Association has tried for months to impress upon the Consumer Financial Protection Bureau that switching from dealer reserve to flat fees will not eliminate dealerships' ability to set their compensation for auto loans....
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JIM HENRY

Dealer reserve to come under fire in D.C.

12:01 am U.S. ET | May 21, 2014
The Center for Responsible Lending and other advocacy groups are hosting a briefing on Capitol Hill to address what the groups call “auto lending abuses,” the chief one being dealer reserve, also known as dealer markup....
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JIM HENRY

Chrysler Capital takes toll on Ally

12:01 am U.S. ET | May 14, 2014
Santander Consumer USA and Ally Financial passed each other coming and going in the first quarter in terms of business with Chrysler Group, but don’t expect them to exchange a friendly wave....
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Schaeffler refinances 3.5 billion euros of debt

May 7, 2014 06:01 CET
German supplier Schaeffler has refinanced about 3.5 billion euros ($4.9 billion) worth of debt, including new bond issues of about 2 billion euros, as borrowing costs approach record lows in Europe....
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