Articles by: EFG Companies

Finding the Perfect Balance [SPONSORED]

Finding the Perfect Balance [SPONSORED]

October 20, 2017 at 9:00 am 0 comments

From the very first time one person loaned another person their hard-earned money or goods, there has been a level of risk on whether they would ever see their money or property again. As the lender, finding that balance between risk and reward created the concepts of payment plans, requiringRead More

A Turn of the Screw [SPONSORED]

A Turn of the Screw [SPONSORED]

October 13, 2017 at 9:00 am 0 comments

On July 10, the Consumer Financial Protection Bureau issued a rule banning companies from denying arbitration to groups of people. For auto retail dealers and lenders, this change is just one more turn of the screw clamping down on the ability to do business. The new ruling stipulates that autoRead More

Don’t Settle for More of the Same [SPONSORED]

Don’t Settle for More of the Same [SPONSORED]

October 6, 2017 at 9:00 am 0 comments

The fourth quarter has finally arrived. Are you on track to meet your auto loan volume projections? Vehicle sales numbers are flowing in, and so far it looks like the projections for a flat market have panned out, even with the upsurge in sales in flood-damaged areas. The Federal ReserveRead More

Protecting Your Institution with Compliance [SPONSORED]

Protecting Your Institution with Compliance [SPONSORED]

September 29, 2017 at 9:00 am 0 comments

In the wake of large natural disasters like Hurricanes Harvey, Irma, and Maria, lenders tend to see an upsurge in credit applications for auto loans. In fact, strategic lenders offer financial relief in the affected areas, offering better rates, 0% APR, alternative payment arrangements, and even payment relief. These effortsRead More

Auto Finance After a Natural Disaster [SPONSORED]

Auto Finance After a Natural Disaster [SPONSORED]

September 22, 2017 at 8:30 am 0 comments

Every year, hurricanes hit our coasts. Our forests catch fire. Tornadoes decimate towns. Natural disasters happen. What happens in their wake is up to us. It’s amazing to see how people band together in the recovery effort after a natural disaster. People open up their homes. Companies donate millions ofRead More

Prepare for a Surge in Auto Financing [SPONSORED]

Prepare for a Surge in Auto Financing [SPONSORED]

September 15, 2017 at 9:00 am 0 comments

While everyone is following the news coverage of the impact of Hurricane Harvey, the estimated 500 auto dealers in the Houston area affected by the hurricane are already working to get back up and running. According to Automotive News and Wards Auto, dealers in Southeast Texas expect a surge inRead More

Don’t Take Your Foot Off the Gas [SPONSORED]

Don’t Take Your Foot Off the Gas [SPONSORED]

September 8, 2017 at 9:00 am 0 comments

Forecasts from LMC Automotive, Edmunds.com, and Kelley Blue Book call for light vehicle sales to rise about 1% from August 2016. August could be the first positive month of 2017 for U.S. auto sales, breaking a streak of seven consecutive year-over-year declines. This positive outlook, coupled with the historically high-volumeRead More

Your Dealer Relationship Checklist [SPONSORED]

Your Dealer Relationship Checklist [SPONSORED]

August 25, 2017 at 9:00 am 0 comments

You’ve implemented strong technology solutions to provide dealers with automatic approvals and denials. You’ve created robust mobile applications to foster strong relationships with consumers. You might even have gone completely digital with all loan services. In the race to provide dealers and consumers with instant credit descisioning, have you lostRead More

Staying Ahead of the CFPB Arbitration Rule [SPONSORED]

Staying Ahead of the CFPB Arbitration Rule [SPONSORED]

August 18, 2017 at 9:00 am 0 comments

When the Consumer Financial Protection Bureau was created, the Dodd-Frank Act gave the CFPB authority to study mandatory, predispute arbitration agreements. Before the CFPB could do anything, they needed to conduct this study, report to Congress, and then propose whatever rule they deemed in the consumer’s best interest. Last summer,Read More

How Will the CFPB’s Arbitration Rule Impact You? [SPONSORED]

How Will the CFPB’s Arbitration Rule Impact You? [SPONSORED]

August 11, 2017 at 9:00 am 1 comment

On July 10, the Consumer Financial Protection Bureau issued a rule banning companies from denying arbitration to groups of people. “The Consumer Financial Protection Bureau today announced a new rule to ban companies from using mandatory arbitration clauses to deny groups of people their day in court,” according to theRead More

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