Dealer Markup Is Back in Play [SPONSORED]

The 2013 Consumer Financial Protection Bureau (CFPB) regulation, which held financial institutions responsible for potential discriminatory lending practices at dealerships, was repealed by President Donald Trump on Monday. The original 2013 CFPB bulletin was intended to address the potential for racial discrimination at dealerships by encouraging lenders to cap interest rate markup at 150 basis […]
  • EFG Companies
  • May 25, 2018
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Texas Regulators Pursue Enforcement of Ancillary Products

DALLAS — New ancillary product offerings approved by the Texas legislature last fall have drawn the attention of local regulators to the effectiveness of all automotive service contracts sold at dealerships, panelists noted at the Auto Finance Performance and Compliance Summit. “One of the issues we see routinely is that on the front end, there […]
  • William Hoffman
  • May 24, 2018
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Fifth Third Merges With MB Financial, Absorbs Powersports Portfolio

Fifth Third Bank announced it’s acquiring Chicago-based MB Financial Bank earlier this week, along with the company’s powersports portfolio. It’s unclear at this time how the merger will impact the powersports space more generally, but one OEM — Vanderhall Motor Works — is not letting the move derail its pursuits to partner with lenders such as MB […]
  • William Hoffman
  • May 24, 2018
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Simplifying Motor Vehicle Titling with Tax and Fee Estimates [SPONSORED]

Lenders and borrowers alike continually express frustration with the perfection process and the challenges associated with keeping on top of requirements. Understanding taxes and fees can be one of the most onerous parts of the motor vehicle titling process and is a primary cause of pain for lenders. For most lenders, determining the taxes and […]
  • Wolters Kluwer Financial Services
  • May 24, 2018
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Congress Rolls Back Dodd-Frank Rules, Relieves Banks of Stress Test Requirements

Fewer than 10 banks will be required to submit stringent stress test analysis to federal regulators following Congress’ passage of bipartisan legislation designed to rollback Obama-era financial regulation. The House voted 258-159 to roll back parts of the 2010 Dodd-Frank Act, which will now designate banks with assets above $250 billion as “systemically important financial […]
  • William Hoffman
  • May 23, 2018
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New York Dealership Launches Subscription Program, Ally to Finance

Vehicle subscription service provider Mobiliti announced on Tuesday a new partnership with Island Auto Group that will provide a flexible transportation option for New Yorkers.   Launching in June with the intent to help city-dwellers navigate summer travel, the auto group will offer month-to-month vehicle payments that bundle insurance, maintenance, warranty coverage, and roadside assistance. […]
  • Nicole Casperson
  • May 23, 2018
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