Finance & Insurance

HANNAH LUTZ

BLOG: Warding off bias claims by shedding light on dealer reserve

12:15 pm U.S. ET | Oct. 14, 2015

Of the three parties that share a financial stake in an auto loan arranged at a dealership, typically only two know exactly how the interest rate breaks down: the dealership and the lender. Most car buyers are in the dark when it comes to the bit of interest that the dealership likely has added to their loan, known as the dealer reserve....
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NADA's Fox sees progress on CFPB bill

4:06 pm U.S. ET | Oct. 7, 2015

After discussions with legislators last week, Bill Fox, chairman of the National Automobile Dealers Association, says he is confident that a bill to limit the Consumer Financial Protection Bureau's auto lending guidance will pass....
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HANNAH LUTZ

BLOG: Different challenges, but these 2 finance companies move forward

11:45 am U.S. ET | Oct. 7, 2015

GM Financial is rising strongly. And Ally Financial is still standing despite its shattered ties to General Motors....
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CFPB says Westlake, Wilshire engaged in illegal debt collection ploys

3:18 pm U.S. ET | Oct. 1, 2015

The Consumer Financial Protection Bureau accused Westlake Financial Services and Wilshire Consumer Credit, its auto title lending subsidiary, of illegal debt collection ploys, including extending loan terms without permission and failing to disclose loans' annual percentage rates. The CFPB ordered the lenders to pay consumers $44.1 million in relief....
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HANNAH LUTZ

BLOG: Before CFPB crackdown, how about some guidance?

12:00 pm U.S. ET | Sept. 30, 2015

Before the Consumer Financial Protection Bureau cracks down on auto lenders, it should offer guidance on what its dealer reserve standards are....
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HANNAH LUTZ

BLOG: A cautionary tale of 2 dealership groups and compliance

1:15 pm U.S. ET | Sept. 23, 2015

Just two years after the FTC charged them with deceptive advertising, two dealership groups caught fire again. And it’s costing them....
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HANNAH LUTZ

BLOG: Is more schooling needed on CFPB?

12:15 pm U.S. ET | Sept. 16, 2015

Is the Consumer Financial Protection Bureau the household name everybody assumes it is?...
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HANNAH LUTZ

BLOG: Affordability, technology are hot F&I product topics among student inventors

11:45 am U.S. ET | Sept. 9, 2015

Students at Northwood University view the school’s first annual competition to invent a salable F&I product as a gamelike challenge to make the F&I experience better for dealerships and customers alike....
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HANNAH LUTZ

BLOG: Will Gen Y push leasing sea change?

11:45 am U.S. ET | Sept. 2, 2015

When millennials are itching to get into a brand new car, many look to leasing....
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Opel will launch online retail banking in Germany

Sept. 2, 2015 12:24 CET

Opel will push into online retail banking in Germany and use consumer deposits to broaden the base of its financing operation....
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Monthly payments, loan terms up in Q2, Experian says

1:49 pm U.S. ET | Aug. 27, 2015

The average monthly payment increased and new-vehicle loan terms grew during the second quarter as average U.S. transaction prices for new cars and light trucks rose, Experian Automotive reported....
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HANNAH LUTZ

BLOG: E-contracting needs standard definition

12:15 pm U.S. ET | Aug. 26, 2015

Although electronic contracting has gained traction, it’s still not widely embraced by dealers.
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HANNAH LUTZ

BLOG: Why industry's trudging tech rep no longer applies

12:15 pm U.S. ET | Aug. 19, 2015

Auto dealers and lenders have a reputation of resisting change, especially when it comes to technology. But maybe that reputation is undeserved now....
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HANNAH LUTZ

BLOG: A case for using single staffer for sales, F&I

11:45 am U.S. ET | Aug. 12, 2015

At Barry Chrysler-Dodge-Jeep- Ram in Ephrata, Wash., store owner Denver Morford wants customers to work with the same employee throughout the entire purchase process to build a relationship and customer retention....
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CFPB urges Fifth Third to lower its allowable dealer reserve, report says

2:50 pm U.S. ET | Aug. 7, 2015

The Consumer Financial Protection Bureau is urging Fifth Third Bancorp to reduce the amount of dealer reserve the bank allows on its auto loans, as part of talks to settle an investigation by the agency into possible discriminatory lending practices by Fifth Third, The Wall Street Journal reported....
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HANNAH LUTZ

BLOG: Bill limiting CFPB has long road to becoming law

12:30 pm U.S. ET | Aug. 5, 2015

The U.S. House Financial Services Committee last week moved a bill that would limit the Consumer Financial Protection Bureau's guidance over auto lending. But dealers and lenders should hold off on the celebrations....
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ARLENA SAWYERS

BLOG: Mel Farr still wows Detroit

5:00 pm U.S. ET | Aug. 4, 2015

Mel Farr, who died Monday, was an automotive pioneer on two fronts: as a minority dealer and as a champion of subprime buyers, using leading-edge technology to enable sales to consumers who otherwise would have been turned away....
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HANNAH LUTZ

BLOG: AutoNation, Group 1 are neck and neck in F&I race

12:30 pm U.S. ET | July 29, 2015

AutoNation overtook former frontrunner Group 1 Automotive for the top spot among the public retailers in F&I profit per vehicle in the second quarter. Or did it? It depends on how you measure....
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Ally's Q2 auto lending flat despite GM pullback

1:12 pm U.S. ET | July 28, 2015

Ally Financial's second-quarter auto lending originations declined just 1 percent from a year earlier to $10.8 billion, despite a sharp drop in lease originations for General Motors vehicles, the company said today....
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VW, Metzler sell LeasePlan for 3.7 billion euros

July 23, 2015 09:42 CET

Volkswagen and German bank Metzler have sold financing company LeasePlan to a consortium of investors for 3.7 billion euros ($4 billion)....
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VW is in advanced talks to sell LeasePlan, report says

July 22, 2015 17:15 CET

Volkswagen is in advanced talks to sell its 50 percent stake in financing arm LeasePlan as the carmaker cuts costs and refocuses its business, Reuters reported. LeasePlan finances 1.42 million cars annually....
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HANNAH LUTZ

BLOG: How Honda Finance’s settlement could be a win for all retailers

11:30 am U.S. ET | July 22, 2015

At face value, the consent order between Honda Finance and the CFPB over lending practices doesn’t seem like a gift to retailers industrywide, but it could be....
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Mixed results for minority dealer programs

12:01 am U.S. ET | July 20, 2015

As Ford's Kevin Cour and other automaker executives updated NAMAD on the state of their minority dealer programs, it became increasingly clear that those programs vary widely in their scope and effectiveness....
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HANNAH LUTZ

BLOG: In dealer-reserve debate, CFPB, NADA and American Honda Finance strive to move ball

11:30 am U.S. ET | July 15, 2015

The debate over dealer-arranged auto loans has taken on new dimensions in recent weeks with various stakeholders seeking the upper hand....
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Nationwide car-shopping site adds finance, insurance

11:30 am U.S. ET | July 15, 2015

Nationwide Insurance launched an online service that enables consumers to research, shop for, finance and insure a car online, joining an industrywide move to put more of the finance and insurance process on the web....
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