Articles by: Auto Finance News

CFPB Warns Against ‘Tricking Consumers’ With Pay-by-Phone Fees

CFPB Warns Against ‘Tricking Consumers’ With Pay-by-Phone Fees

August 21, 2017 at 9:30 am 0 comments

Regulated entities should be prepared to defend their policies and practices surrounding fee-based pay-by-phone options in light of new guidance issued by the Consumer Financial Protection Bureau. The CFPB released a compliance bulletin on July 31 to provide guidance on charging pay-by-phone fees. In a press release, the CFPB toutsRead More

Selling Millennials on the Dealership Experience

Selling Millennials on the Dealership Experience

August 10, 2017 at 9:00 am 0 comments

Think back to the most important retail moments of the last 50 years. What would be on your list? Surely automotive veterans would add the Great Recession of 2007, along with the introduction of imports, SUVs, and Crossovers. The emergence of the internet would also make everyone’s top 10, asRead More

Not All Compliance Management Systems Are Created Equal

Not All Compliance Management Systems Are Created Equal

August 8, 2017 at 9:30 am 0 comments

While the Consumer Financial Protection Bureau continues to expand into various business lines and increase the number of industries they supervise and hold enforcement power over, the FDIC, FED, and various state regulators have all incorporated the CFPB’s hyper focus on consumer risk into their supervision duties. As such, regulatoryRead More

Mobility Buzz — New Mobility Media Venture — Launches Today

Mobility Buzz — New Mobility Media Venture — Launches Today

January 23, 2017 at 11:26 am 0 comments

The auto finance industry is inevitably shaped by the automotive industry, and in the past year, mobility has become the most crucial innovation driver of the global transportation industry. Mobility is not just disrupting traditional transportation, but altering the way people and things move around a connected, digital, social-networked world.Read More

Compliance Insider: Is the CFPB Over?

Compliance Insider: Is the CFPB Over?

January 11, 2017 at 10:30 am 0 comments

Judging by the direction of the stock market and the financial trade press, Nov. 9 brought great relief to business in general, and to financial services providers particularly. Conventional wisdom is that regulation will decrease, both in content and in fervor of enforcement. Some predict that the Consumer Financial ProtectionRead More

AutoGravity Launches App, Adds Financing Partners

AutoGravity Launches App, Adds Financing Partners

December 16, 2016 at 10:00 am 1 comment

AutoGravity, a car-buying and financing platform, rolled out its mobile app yesterday, completing a four-month beta launch. The startup also added three lender-partners, which will be offering financing and leasing to consumers in California. The platform enables consumers to search vehicle inventory from dealers nationwide and apply for financing. Previously,Read More

PolySync to Democratise Autonomous Research with Open Source Platform

PolySync to Democratise Autonomous Research with Open Source Platform

December 12, 2016 at 10:30 am 0 comments

In the tech world, open-source software is an increasingly popular model for developers to share and learn through collaboration, and thus drive innovation. Not so much in the auto world. But a Portland, Ore.-based software startup is set to change that.

Collaborate to Innovate Mobility, Expert Says

Collaborate to Innovate Mobility, Expert Says

December 9, 2016 at 10:30 am 0 comments

Cross-pollination between tech companies and auto manufacturers is no longer optional, it’s a “necessary,” Michael Macauley, chief executive of Quadrant Information Services, cautioned. “As cars become devices that we drive or don’t drive, and devices become more integrated with our transportation experience across modes,” the two industries need to learnRead More

Security Service Credit Union Takes Top Spot in Dealer Ranking

Security Service Credit Union Takes Top Spot in Dealer Ranking

October 24, 2016 at 11:00 am 0 comments

For the second straight year, Security Service Credit Union took the top spot in overall performance in an exclusive ranking of dealer preferences about the finance providers they use. The survey, called the Auto Finance Performance (AFP) data query and conducted by Auto Finance News, quantifies and ranks lenders onRead More

And So It Begins — The Subprime Realignment

And So It Begins — The Subprime Realignment

June 28, 2016 at 10:00 am 0 comments

So, GO Financial and now, Dealer Funding has taken the brave steps to stop competing in what has been a very hot, and many say overly competitive, subprime automobile market for the past  five years.  You may be able to add Westlake Financial’s captive Western Funding to the list, whereRead More

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