Finance & Insurance

JIM HENRY

Dealer reserve is here to stay … right?

12:01 am U.S. ET | May 7, 2014
Auto lenders are sticking to dealer reserve despite the Consumer Financial Protection Bureau's crackdown and despite BMO Harris Bank's recent switch to a flat fee....
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JIM HENRY

Tax refund as down payment? Why not?

12:01 am U.S. ET | April 30, 2014
The first quarter is typically the strongest quarter of the year for subprime financing and used-car auto loans due to the timing of tax refunds, say industry experts such as Asbury Automotive COO Michael Kearney, who noted the trend last week....
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JIM HENRY

Why Group 1 finds F&I a tougher sell overseas

12:01 am U.S. ET | April 23, 2014
Think F&I managers have it tough making a sale in the United States? It’s a lot tougher in the United Kingdom and in Brazil, Group 1 Automotive says....
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JIM HENRY

Inquiry into alleged CFPB bias picks up steam

12:01 am U.S. ET | April 16, 2014
The issue of whether, ironically, the Consumer Financial Protection Bureau allegedly discriminates against its own employees has got legs....
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LINDSAY CHAPPELL

Brace yourself for 'velocity'

1:06 pm U.S. ET | April 16, 2014
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....
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JIM HENRY

Misleading sales ads hurt F&I

12:01 am U.S. ET | April 9, 2014
State and federal regulators have cracked down this year on misleading dealership advertising. In just about every case, their complaint was that the advertising failed to adequately disclose financial terms or hidden costs....
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Ally Financial CEO Carpenter won't get pay hike, U.S. Treasury says

7:41 pm U.S. ET | April 2, 2014
The Obama administration is holding the total compensation unchanged this year for the head of bailed-out auto lender Ally Financial, the Treasury Department said on Wednesday....
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JIM HENRY

Off-lease surge should spark even more leasing

12:01 am U.S. ET | April 2, 2014
Scheduled lease terminations are expected to grow again in 2014, providing a strong tailwind for additional leases this year and higher customer loyalty....
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LETTER TO THE EDITOR

Blame Uncle Sam for Sally's loan debt

12:01 am U.S. ET | March 31, 2014
Jesse Snyder's March 17 column, "Why Sally can't buy a new car," was full of facts but did not get to the root cause....
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JAMES B. TREECE

What's on dealers' minds -- and what's not

1:20 pm U.S. ET | March 28, 2014
A small group of Florida dealers gathered last week at a Fort Lauderdale hotel to share best practices. What was unsaid intrigued me....
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Ally Financial IPO could generate $2.7 billion for U.S. Treasury

9:00 am U.S. ET | March 27, 2014
Ally Financial, the former GMAC auto lender rescued by the federal government during the 2008 financial crisis, is helping the Treasury Department divest its stake by seeking as much as $2.7 billion in an initial public offering....
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JIM HENRY

Ally takes step toward 'free at last' with IPO

12:01 am U.S. ET | March 27, 2014
It's been a long time coming, but Ally Financial finally filed for its initial public stock offering today -- another step in a long process toward becoming a truly independent company....
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JIM HENRY

CFPB, FTC Web sites differ in tone

12:01 am U.S. ET | March 26, 2014
While the Federal Trade commission and Consumer Financial Protection Bureau share a commitment to ensure consumers get a fair shake on auto finance, they gather and impart consumer information differently....
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JIM HENRY

House committee presses CFPB for answers

12:01 am U.S. ET | March 19, 2014
The Consumer Financial Protection Bureau has ignored a congressional deadline to specify how it determines discrimination in auto lending....
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Off F&I menus, LoJack sales perk up

12:01 am U.S. ET | March 17, 2014
A couple of years ago, LoJack Corp. was starting to look like an afterthought. Then company CEO Randy Ortiz had an insight: Get LoJack out of the F&I department -- where it often got lost on menus listing a dozen or so products -- and into the showroom....
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New panel to oversee tech shift for auctions

12:01 am U.S. ET | March 17, 2014
The auto auction industry is moving closer to a major change as rival auctions are looking into listing used vehicles for sale simultaneously on competitors' online remarketing platforms....
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Ally names Jeffrey Brown to replace Muir as CEO of dealer financial unit

5:01 pm U.S. ET | March 13, 2014
Ally Financial has appointed Jeffrey Brown as CEO of Ally Dealer Financial Services, succeeding the veteran Bill Muir, who will retire later this year....
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JIM HENRY

Consumer site wants buyers to pay less for vehicles

10:30 am U.S. ET | March 12, 2014
The consumer advice Web site Interest.com offers prudent financial guidance to keep car buyers out of debt so they can spend more on other priorities. Lucky for the auto industry, few people seem to be taking that advice....
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JIM HENRY

Extended service contract? Skip it, Consumer Reports tells readers

6:03 pm U.S. ET | March 10, 2014
Consumer Reports slams extended service contracts in its latest annual auto issue, one of the magazine's most widely read editions....
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JIM HENRY

Why the CFPB is being accused of discrimination

3:55 pm U.S. ET | March 7, 2014
Critics of the Consumer Financial Protection Bureau are enjoying a private moment of glee over accusations in a published report that the CFPB itself could be guilty of discrimination against its employees in personnel evaluations....
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JIM HENRY

Why the F&I office still matters

12:01 am U.S. ET | March 5, 2014
A recent McKinsey study says one of the main reasons consumers still come to a brick-and-mortar dealership instead of buying cars online is to get questions answered about finance and insurance that can't be addressed, or can't be answered “conclusively,” online....
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Tesla plans $1.6 billion offering to fund gigafactory

4:49 pm U.S. ET | Feb. 26, 2014
Tesla is offering $1.6 billion of convertible senior notes to help fund a battery factory....
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JIM HENRY

The disconnect lingers between auto finance and the CFPB

12:01 am U.S. ET | Feb. 26, 2014
The auto finance industry and the Consumer Financial Protection Bureau have a fundamental disconnect. The auto finance industry sees itself as unique while the CFPB sees it as just one more consumer finance sector, essentially not that different from mortgages, credit cards or student loans....
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JIM HENRY

Auto loans just keep growing

12:01 am U.S. ET | Feb. 19, 2014
Auto loans had another double-digit growth spurt in the fourth quarter, Experian Automotive reports.
Total auto loan balances outstanding reached $798.5 billion in the quarter, an increase of 11 percent from the 2012 period and the highest total since Experian started publishing its numbers in 2007. The third-quarter total of $782.9 billion had also been a high, up 15 percent from the same 2012 period....
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PSA said to near Santander deal to strengthen lending arm

Feb. 14, 2014 15:16 CET
PSA is close to a deal for a joint venture with Banco Santander to strengthen the financing of its lending arm, two people familiar with the matter said....
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