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

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 touts the bulletin as a warning […]
  • Auto Finance News
  • August 21, 2017

Selling Millennials on the Dealership Experience

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, as would most of the major […]
  • Auto Finance News
  • August 10, 2017

Not All Compliance Management Systems Are Created Equal

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, regulatory focus continues to remain concentrated […]
  • Auto Finance News
  • August 8, 2017

Mobility Buzz — New Mobility Media Venture — Launches Today

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. So, Royal Media, the New […]
  • Auto Finance News
  • January 23, 2017

Compliance Insider: Is the CFPB Over?

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 Protection Bureau will be dismantled, others […]
  • Auto Finance News
  • January 11, 2017

AutoGravity Launches App, Adds Financing Partners

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, AutoGravity offered financing exclusively through […]
  • Auto Finance News
  • December 16, 2016

PolySync to Democratise Autonomous Research with Open Source Platform

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.
  • Auto Finance News
  • December 12, 2016

Collaborate to Innovate Mobility, Expert Says

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 learn to work together rather than […]
  • Auto Finance News
  • December 9, 2016

Security Service Credit Union Takes Top Spot in Dealer Ranking

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 on service, pricing, representatives, and products […]
  • Auto Finance News
  • October 24, 2016

And So It Begins — The Subprime Realignment

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, where a major shake up at […]
  • Auto Finance News
  • June 28, 2016
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