CFPB Discriminatory Lending Practices Under Review [SPONSORED]

In 2013, the Consumer Financial Protection Bureau (CFPB) issued regulations holding financial institutions responsible for discriminatory lending practices at dealerships. The rules were based on fair lending requirements under the Equal Credit Opportunity Act (ECOA) as they related to the practice of dealer markup. While intended to prevent creditors — and dealers — from any […]
  • EFG Companies
  • December 15, 2017

Are You Ready for Young Blood in the C-Suite? [SPONSORED]

We’ve seen quite a few articles about millennials in the auto finance space. Rumors abounded that millennials didn’t want cars, didn’t want to move out of their parents’ house, and wanted life to be handed to them. While this younger generation did start on their career paths later in life, due in large part to […]
  • EFG Companies
  • December 8, 2017

CFPB in 2017 [SPONSORED]

In January of this year, President Donald Trump issued an executive order which required agencies like the Consumer Financial Protection Bureau to re-address how they issue new regulations. The order required agencies to eliminate two regulations each time they issue a new one. Because of this, we saw very little activity coming out of the […]
  • EFG Companies
  • December 1, 2017

Why Should They Choose Your Loan? [SPONSORED]

The Challenge: Differentiation! In 2013, nonprime, subprime, and deep-subprime new vehicle loans accounted for 27.5% of the market. Today, they account for roughly the same, at 26.37% of the marketshare. However, when you look at the risk distribution between total new and used units, you get a different picture. For the total finance market, nonprime, […]
  • EFG Companies
  • November 10, 2017

Protecting Your Loan Portfolio from Auto Defaults [SPONSORED]

According to recent data from the S&P Dow Jones Indices and Experian, auto defaults rose by 9 basis points in August and by 10 basis points in September 2017. These represent the largest month-over-month increases since December 2011. In addition, September’s auto defaults represent the highest level analysts have seen since February 2015. With these […]
  • EFG Companies
  • November 3, 2017

Appealing to Millennials [SPONSORED]

More than 60 million Americans make up the millennial generation — those born between 1980 and 1994. Millennials represent one of the largest generations in history. While this group won’t reach their peak earning age until 2020, they already represent 25% of the total buying power in the U.S., according to a recent study by […]
  • EFG Companies
  • October 27, 2017

Finding the Perfect Balance [SPONSORED]

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, requiring borrowers to pay back more […]
  • EFG Companies
  • October 20, 2017

A Turn of the Screw [SPONSORED]

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 auto dealers and their lending partners […]
  • EFG Companies
  • October 13, 2017

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

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 Reserve raised interest rates twice this […]
  • EFG Companies
  • October 6, 2017

Protecting Your Institution with Compliance [SPONSORED]

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 efforts help consumers get back on […]
  • EFG Companies
  • September 29, 2017
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