Banking and Lending

HANNAH LUTZ

BLOG: 3 steps to regulatory compliance

12:15 pm U.S. ET | June 24, 2015

To stay out of trouble with regulators, clean up compliance. It sounds like an obvious solution, but what do dealers need to do to be sure compliance is up to par?...
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HANNAH LUTZ

BLOG: The advantages for going online with F&I

12:00 pm U.S. ET | June 17, 2015

To reduce the push and pull around F&I product options and avoid surprising consumers with unexpectedly higher monthly payments as F&I products are added on, dealerships should introduce F&I online....
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Tesla lines up $500 million line of credit

8:06 pm U.S. ET | June 12, 2015

Electric car maker Tesla Motors said Friday it had entered into a $500 million senior secured line of credit....
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HANNAH LUTZ

BLOG: Why credit bureaus' loan data vary

11:00 am U.S. ET | June 10, 2015

The three major credit bureaus, TransUnion, Experian and Equifax, publish their auto finance data in spurts throughout the year, usually a week or two apart from one another. But one thing always stops me when reporting the data: The trends are the same, but the numbers don't match up....
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JAMES B. TREECE

BLOG: How credit unions, as a group, will become the largest auto lender

11:45 am U.S. ET | June 3, 2015

Credit unions as a group, largely working through Credit Union Direct’s CUDL platform, are poised to become the largest single lender to auto buyers -- eventually. Here’s how....
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NEWS ANALYSIS

Can Takata survive historic U.S. airbag recall?

6:53 am U.S. ET | May 21, 2015

Automakers have largely stood behind airbag component maker Takata, taking the hit to their own reputations from a series of recalls related to the Japanese company's products that began in 2008. That loyalty is about to be put to the test....
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HANNAH LUTZ

BLOG: Uber, credit-challenged drivers walk the subprime tightrope

12:00 pm U.S. ET | May 20, 2015

Uber offers its credit-challenged drivers a finance program to help them buy their vehicles. But the program can put some drivers in trouble, according to a Marketplace.org report. Some auto industry experts fear that too many subprime loans could help trigger another financial crisis....
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Takata asking to pay for recalls through installments, report says

7:49 am U.S. ET | May 14, 2015

Takata asked automakers to allow it to pay for costs related to its recalled airbags by installment and is meeting with its bankers almost every day to ensure it has enough cash flow, an analyst who attended a company briefing told Bloomberg....
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JIM HENRY

BLOG: CFPB plays up auto finance complaints

11:00 am U.S. ET | May 6, 2015

A report released by the Consumer Financial Protection Bureau covering nearly 30,000 military service member complaints over a three-year period shows that although gripes about auto loans were a small part of the mix, they were a large part of the CFPB's enforcement actions....
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JIM HENRY

BLOG: Finally, a lender owns up

11:45 am U.S. ET | April 29, 2015

Auto lenders carefully avoid citing their rivals, especially when they want to criticize. So it was refreshing when Ally's CEO figuratively raised his hand this week....
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JIM HENRY

BLOG: Auto finance critic Warren stands firm on CFPB dealership oversight

11:15 am U.S. ET | April 22, 2015

Sen. Elizabeth Warren is once again calling for direct regulation of auto dealerships by the Consumer Financial Protection Bureau....
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ZF sells bonds to help finance TRW acquisition

2:37 pm U.S. ET | April 20, 2015

ZF raised $2.4 billion with the company's first bond sale in its 100-year history to help pay for its acquisition of automotive safety components supplier TRW Automotive Holdings Corp....
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JIM HENRY

BLOG: Women in automotive seek more peers

12:15 pm U.S. ET | April 15, 2015

A lot of dealer principals and general managers swear by their female salespeople and F&I managers and wish they had more. But in the business world at large, auto industry careers for women are a “best-kept secret.”...
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JPMorgan Chase loses bid to reclaim security for $1.5 billion GM loan

4:02 pm U.S. ET | April 14, 2015

JPMorgan Chase lost another court bid to reclaim security for a $1.5 billion loan to General Motors' bankrupt predecessor....
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JIM HENRY

BLOG: Lenders' outcry against CFPB 'narratives' is justified

12:01 am U.S. ET | April 8, 2015

It's no wonder auto lenders cried foul last month when the CFPB announced its plan to begin posting consumers' first-person tales of their grievances with auto loans later this year....
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JIM HENRY

BLOG: No such thing as 'little' lies on credit apps

11:00 am U.S. ET | April 1, 2015

The Federal Trade Commission served up a forceful reminder last week that inflating a customer's income on a credit application isn't just a little white lie, even if it's intended to “help” the customer....
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JAMIE LaREAU

BLOG: Volvo captive finance's plan to help spur sales of Volvo's XC90

3:30 pm U.S. ET | Feb. 19, 2015

The redesigned 2016 Volvo XC90 is “the big” launch facing Volvo's captive finance company. Just ask Dan Romagnoli. He is the man responsible for making sure dealers get enough financing support to sell the heck out of the crossover when it goes on sale in May....
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GM seeks banks' advice on dealing with activist investor group

12:13 pm U.S. ET | Feb. 12, 2015

General Motors has turned to two investment banks to help it come up with a response to a shareholder group demanding $8 billion in stock buybacks and a seat on the board of the automaker, the company told Reuters....
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Q&A

How some customers cheat themselves

2:00 pm U.S. ET | Jan. 23, 2015

When Hennessy Buick-GMC in Georgia signed up this year for an Equifax system that automatically verifies employment and income, Finance Director Blake Bailey thought the system would mostly identify people who had overstated their income....
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Faster is better in F&I, Power survey shows

12:00 pm U.S. ET | Jan. 22, 2015

The latest J.D. Power Sales Satisfaction Index Study underscores how important it is to get customers in and out of the F&I office as quickly as possible....
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Paperwork error on GM loan will cost JPMorgan $1.5 billion, U.S. court rules

1:24 pm U.S. ET | Jan. 21, 2015

A 2008 paperwork error in a loan agreement with General Motors, before the automaker went into Chapter 11 bankruptcy, will cost JPMorgan Chase $1.5 billion, a federal appeals court ruled today....
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2015 AUTOMOTIVE NEWS WORLD CONGRESS

Good times won't last forever, analyst says

12:01 am U.S. ET | Jan. 19, 2015

The U.S. auto industry is in good shape. But the good times won't last forever, so watch your balance sheets and don't blow it. That was the advice to automakers from John Murphy, lead U.S. auto analyst in equity research with Bank of America Merrill Lynch....
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2015 AUTOMOTIVE NEWS WORLD CONGRESS

FCA's Bigland says loan terms will grow, making price increases more affordable

6:10 pm U.S. ET | Jan. 14, 2015

Fiat Chrysler Automobiles' head of US and Canadian sales says loose credit terms will continue to drive new vehicle sales, even as pent-up demand dwindles in a recovered economy....
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2015 AUTOMOTIVE NEWS WORLD CONGRESS

Analyst forecasts 17 million U.S. sales in 2015, 20 million in 2018

5:27 pm U.S. ET | Jan. 14, 2015

The US auto industry will sell over 17 million vehicles in 2015 and could reach 20 million in 2018, but expect a sharp downturn after that. So predicted John Murphy, lead US auto analyst for Bank of America Merrill Lynch....
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JIM HENRY

BLOG: Lending practices face new scrutiny: States

11:30 am U.S. ET | Jan. 14, 2015

State officials aren't far behind the federal government in the present crackdown on auto lenders, especially in the subprime segment....
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