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A bipartisan House bill introduced Monday could change the Consumer Financial Protection Bureau's single-director leadership structure into a bipartisan commission.
Capital One is previewing an augmented reality tool that enables customers to scan any car, receive personalized finance information and locate nearby dealerships in seconds.
Which factors of auto lending should industry watchers observe with a critical eye? Consumers' trade cycles.
Westlake Financial Services has launched a program for prime credit customers, the latest signal that the company has evolved from its subprime roots into a full-spectrum lender.
The finance and insurance office and the service department are the two most profitable areas of an auto dealership, but they often work in silos, leaving revenue and customer goodwill on the table.
Even when F&I and service departments have a collaborative relationship, many dealerships face a decision: Let service advisers market and sell F&I products in the service drive or leave product sales to the F&I department.
When service advisers don't know how to file claims on F&I products, customers often lose faith in the F&I products and the dealership.
After the Consumer Financial Protection Bureau cracked down on auto lenders for potentially discriminatory practices related to dealer reserve, dealerships began prioritizing F&I product sales over reserve.
A team effort between the F&I office and service department can reap significant benefits for the dealership. But tension or ignorance between the two can hurt the store, experts say.
The outstanding balance on auto loans linked to suspected synthetic identity fraud more than tripled from 2012 to 2017, according to TransUnion.
Last month, the average interest rate on a new-vehicle loan reached its highest level since the third quarter of 2009, as federal rate increases made last year trickled down to vehicle finance, Edmunds said.
The auto loan delinquency rate dropped in the fourth quarter, but that doesn't necessarily mean more borrowers are making their payments on time.
Credit unions continued to take on share of the auto finance market last quarter, helped by different rules, costs of funds and fund structures, Experian says.
AutoNation dealership and collision center operators have settled with California over charges of improperly disposing of hazardous waste and customer records.
Providing consumers basic financial literacy may be the first step in improving their F&I experience.
As Ford Motor Credit CEO Joy Falotico takes the next step in her career this week, the digital skills she honed throughout 29 years at the captive will poise her for new roles at Ford Motor Co. and Lincoln Motor Co.
All six public new-car dealership groups increased F&I gross profit per unit in the fourth quarter, with one even setting a historic high. But the
The dealer relationships, marketing expertise and leasing acumen Joy Falotico cultivated over nearly three decades with Ford's financing arm stood out amid the void created by a top executive's sudden departure.
BMW Financial Services North America has agreed to pay more than $2 million to resolve allegations that it violated the Servicemembers Civil Relief Act.
One of the biggest security hazards for dealerships and their vendors is a data breach, but many are unsure of the best ways to protect their information, EFG says.
Last quarter, auto borrowers' total loan balance outstanding grew at the lowest rate since the second quarter of 2012, while delinquency rates plateaued, TransUnion says.
Will cyber liability insurance become more widespread among dealerships? Considering the number of security breaches across many industries today, it should.
Two lenders that ditched dealer reserve in favor of flat fees, when the Consumer Financial Protection Bureau favored the latter, have revised their policies.
Do auto retailers befuddled by the Military Lending Act clarification now have the ear of the White House? Pennsylvania dealer Corina Straub Diehl thinks so.
Canvas, the vehicle subscription affiliate of Ford Motor Credit Co., will focus on expanding and strengthening dealership partnerships in 2018.
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