Managing Mixed Messages

These days, there are a lot of mixed financial messages. A 2017 report from the Board of Governors of the Federal  Reserve System stated that 40%  of  U.S.  adults struggled to pay a $400 emergency expense, like a vehicle repair. In  March 2018,  the  Federal Reserve raised interest rates for the sixth time since the 2008 financial crisis, and it is expected they […]

History Tells a Story About Compliance

In our 24/7 news cycle, it’s easy to lose perspective. People overlook the ebb and flow of things – especially anything with political overtones. While the world of finance prefers to keep things consistent, the one thing people can count on is change. Change is especially true when it comes to compliance. From regulation to […]

Speeding Up the Car-Buying Process

It’s no secret that consumers want to shorten their time in the F&I office. A 2018 study from Ernst & Young Global Limited predicted a paradigm shift in automotive retail. Digitization, regulations, evolving customer needs, and new competitive selling methods necessitate a rethink of the retail model. In fact, 72% of consumers feel that an […]

Breaking Out of the Groundhog Day Cycle

I’m sure most people have seen the 1993 movie Groundhog Day starring Bill Murray. His weatherman character disparages his assignment to cover the annual groundhog event, only to wake up the next day…and the next day…realizing he is inexplicably reliving the same day over and over again. Filled with cynicism, Murray fails to “flip the […]

Locking Down Non-Public Data

The Gramm-Leach-Bliley (GLB) Act – enacted in 2001 – limits when a “financial institution” may disclose a consumer’s non-public personal information (NPI) to non-affiliated third parties. The law covers a broad range of financial institutions, including many companies not traditionally considered to be financial institutions because they engage in certain “financial activities.” Financial institutions must […]

Is Generation Y Worth Hiring?

Disloyal, arrogant, selfish, overindulgent, high-maintenance, frivolous, image-driven, impatient, over-confident and spoiled – Generation Y has heard it all. Now the generation that everyone thought would never grow up is starting to make up the bulk of the workforce. Will they be successful? Are they worth hiring? Honestly, lenders can’t afford not to hire this challenging […]

Dealing With Defaults

With interest rates on the rise, the corresponding countermeasure of credit defaults is inching up as well. Referenced as an effective measure of lender exposure risk, the latest Fitch auto loan delinquency data shows subprime consumers defaulting on loans at a higher rate than at the peak of the 2008-2009 Great Recession. And, here’s a […]

Dealer Markup Is Back in Play

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 […]
Page 1 of 912345 ...Last »