Auto Finance Excellence | Auto Finance News - Part 3

6 steps to building a dealership culture that attracts female employees

Traditionally the auto industry has historically been dominated by men, but as the workforce advances to include, value and support more women, the auto retail industry is making an effort to keep up. Not only is this an important cultural evolution for dealers to make, but it’s also a crucial business evolution. Studies show women […]

5 questions with… TFS’s Carrie McNamara

Five Questions With is a monthly Q&A segment on AutoFinanceExcellence.org that offers a glimpse of what senior industry executives are thinking about outside the boardroom. Read on to find out. Eighteen years at Toyota Financial Services has taught Carrie McNamara, national manager of consumer and dealer experience, that each hurdle encountered also represents an opportunity for growth. “When […]

Westlake doubles down on dealer strategy

Dealers have stopped telling Westlake Financial Services to increase sales rep visits thanks to a move pushing face time and call frequency. The common dealer refrain of “we’re not hearing from you enough” prompted Westlake to overhaul its dealer strategy. Those efforts have paid off, said Westlake Senior Vice President of Sales and Marketing Mark Vazquez. “It’s gotten […]

3 strategies for lenders to mitigate internal threats to consumer data security

With the enactment of the California Consumer Privacy Act of 2018 and the barrage of copycat legislation in other states, there has been significant focus on consumer data and privacy issues from the vantagepoint of the consumer: what information is collected and how consumers can direct companies what to do — or not do — with that information. While the discussion has largely […]

5 success strategies for consumer lenders in 2020

Investors love growth, and as we approach the longest sustained period of growth in the history of the United States, the business climate has been almost unprecedented. The Dow Jones Industrial Average is hovering around record highs and unemployment is at its lowest level in nearly two decades. These robust economic conditions have supported and […]

Global Lending Services bets long-term success on direct business

Global Lending Services is in the midst of establishing a direct lending business, a move Chief Executive Steve Thibodeau calls “the next gear of [the company’s] growth engine.” While the Atlanta-based auto lender is keeping short-term aspirations in check — Thibodeau said he does not see the direct business as a significant driver of volume […]

What a new Nevada spousal credit law means for lenders

Nevada recently amended its Equal Opportunity for Credit statute to give special rights to credit applicants who do not have individual credit histories because their accounts were established in their spouses’ names. (See Nevada SB311, effective October 1, 2019). The Nevada law applies to a creditor offering any credit product in Nevada, including a finance company […]

Wells Fargo partners with nonprofit, donates vehicle to vet

Wells Fargo, in partnership with Minneapolis-based Walser Automotive Group, is sponsoring the donation of a 2019 Nissan Rouge Sport through the Military Warriors Support Foundation’s Transportation4Heroes program. The vehicle will go to an undisclosed retired Marine Corps veteran today at the Minnesota State Fair at 3 p.m. ET. This is the second straight year Wells Fargo […]
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