BMW Financial to Explore Compliance Strategies at Auto Finance Risk Summit

BMW Financial Services’ compliance manager, Richard Corthell, has joined the speaker faculty at the Auto Finance Risk Summit to discuss the various ways lenders can establish an organizational structure that assigns compliance responsibility. Corthell takes the stage on Thursday, May 16 at 9:05 a.m. PT for a presentation where he’ll guide the audience through strategies […]

• Joey Pizzolato
• April 19, 2019
• Compliance

Navy Federal to Strengthen Mobile App as Consumer Preference Evolves

Navy Federal Credit Union is looking to bolster its digital presence as members increasingly turn to online channels to finalize the vehicle finance process, company Consumer Lending Product Strategist Jennifer Felts told Auto Finance Excellence. In the first quarter of 2019, more auto loan applications came in via the credit union’s digital channels than its call center and branches. […]

• Bianca Chan
• April 19, 2019
• Auto Finance Excellence, Sales & Marketing, Technology

Uber’s Self-Driving Arm Gets $1 Billion Investment Ahead of IPO

Uber Technologies Inc. secured a $1 billion investment from three Japanese companies, ahead of an initial public offering expected next month. Denso Corp., Toyota Motor Corp. and SoftBank Group Corp.’s Vision Fund bought stakes in the self-driving unit, valuing the arm at $7.25 billion, according to a statement. The deal will help Uber, which tallied […]

• Bloomberg News
• April 19, 2019
• Innovation & Mobility, Strategy

AFN Announces DEMOvation Participants

Auto Finance News has selected seven startup companies to compete in the third annual DEMOvation Challenge, a showcase of new technology. The event, sponsored by Market Scan, takes place at the Auto Finance Innovation Summit — part of Auto Finance Accelerate — at the Omni Hotel in San Diego, California on Tuesday, May 14. The […]

• Joey Pizzolato
• April 18, 2019
• Innovation & Mobility, Technology

Online Platform Drives 15% of PenFed’s Direct Loan Volume

Online originations have grown to as much as 15% of Pentagon Federal Credit Union’s direct loan volume since TrueCar started powering the credit union’s online car-buying service in early 2016, Ivan McBride, PenFed’s vice president of automotive lending products and sales, told Auto Finance News. “TrueCar’s buying service is a significant piece of our direct […]

• Nicole Casperson
• April 18, 2019
• Operations, Sales & Marketing, Technology, Update

JPMorgan Moves Piepszak Into Realm of Dimon’s Possible Heirs

Whenever Wall Street muses on who may someday replace Jamie Dimon atop JPMorgan Chase & Co., Marianne Lake’s name arises. For six years, she’s guided analysts and investors through the firm’s business as its chief financial officer. Now, Jennifer Piepszak is taking that stage, becoming CFO and joining a cadre of senior JPMorgan executives viewed […]

• Bloomberg News
• April 18, 2019
• Operations, Strategy

Navy Federal Reinforces Customer Service with Tech

The intersection of customer service and technology is top of mind for Navy Federal Credit Union this year, with enhancements to electronic signatures, mobile applications, and digital portals, said Vice President of Consumer Lending Joseph Pendergast. With 18,000 employees worldwide and more than 8 million members within all branches of the armed forces — including […]

• Bianca Chan
• April 17, 2019
• Auto Finance Excellence, Features, Operations

Md. Senate Committee Rejects Bill to Preserve Watchdog Agency, Mandate Dealer Rate Disclosures

The Maryland Senate Financial Committee voted down a bill last week to extend the Financial Consumer Protection Commission’s regulatory power for two years, effectively decommissioning the state-run watchdog on June 30 and scrapping a requirement that auto dealers disclose to consumers the “buy rate” on loan contracts. The buy rate refers to the lowest annual […]

• Joey Pizzolato
• April 17, 2019
• Compliance, Operations, Update