Kraninger Nomination Advances in Senate

November 29, 2018 The Senate this afternoon invoked cloture on the nomination of Kathy Kraninger as the Director of the Bureau of Consumer Financial Protection(BCFP). The 50 – 49 vote ends debate on the nomination and sets up a final vote sometime after December 4. AFSA strongly supports President Trump‘s nomination for the Director’s position. The association submitted a […]

Warning Signs on the Road for Auto Lenders

The warning signs are evident: a growing reliance on new, unproven loan products; a sharp spike in early delinquencies; and the collapse of a few smaller subprime lenders. Is auto lending in 2018 beginning to resemble the housing market circa 2008? Perhaps, but there are important differences. The economy is stronger than it was 10 […]

Westlake Exec Outlines Auto Finance Strategy for the Current Economic Cycle [VIDEO]

Technology tools will help lenders navigate and excel in the current financial cycle, said Paul Kerwin, Westlake Financial EVP and CFO, at the 18th Annual Auto Finance Summit. “For auto finance, we’re really in a new cycle and a new game,” Kerwin said. “The cycle started in 2009. Everything was pretty easy — there wasn’t […]

From Profitability to Viability, Execs Weigh In on Subscription Services [VIDEO]

OEMs are still trying to crack the code of profitability and consumer interest in subscription services. Leading providers in the space weighed in on this relatively new method of car utilization, in a session at the 18th Annual Auto Finance Summit. Mason McLead, vice president of engineering at car-as-a-service company Fair, defined a subscription as […]

Hyundai Capital America CEO on the Challenges the Company Faces and His Push for Efficiency [VIDEO]

Hyundai Capital America CEO and President Ross Williams spoke at the 18th annual Auto Finance Summit about the company’s strong growth and the challenges he’s dealing with today. “I remember celebrating reaching $10 billion in assets seven years ago. A couple of years later it was $20 billion. A couple of years later it was $30 billion,” said […]

Interest Rates Will Weigh Down Auto Sector Despite Strong Consumer Sentiment [VIDEO]

Comerica Bank’s Chief Economist and SVP Robert Dye expects that the U.S. economy could be headed for a “fiscal cliff” next year. Despite a somewhat confident consumer segment, the weight of interest rates on the auto industry will soon take effect. When it comes to consumers, “It is the best of times and the worst […]
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