Auto Finance Excellence | Auto Finance News - Part 4

SunTrust’s First Female National Credit Manager Gives Three Key Lessons on Success

Renee Franck, SunTrust Dealer Finance’s national credit manager, shared with a large crowd of female professionals attending the inaugural Women in Auto Finance Luncheon on Tuesday the key lessons she learned in a career that spanned more than three decades. A lot has changed in that time. “When you went to meetings back then, you […]

HyreCar CEO Talks Going Public, Seeks Partnership With Rideshare Giant Lyft

Newly public startup HyreCar is looking to capitalize on the eightfold growth of the ride-hailing industry, which Goldman Sachs pegs at $285 billion by 2030. Since its inception in 2014, HyreCar has focused on “filling a clear gap” in the ridesharing industry, Chief Executive Joe Furnari told Auto Finance News. As a peer-to-peer carsharing marketplace, […]

The Story Behind NMAC’s $40M Auto Financing Settlement

Auto finance is risky. It can also be very bizarre. The recent lawsuit between Nissan Motors Acceptance Corporation and a group of New York-based Nissan and Infinity dealers is an example. In this unfortunate situation, it took just 10 months for NMAC to find itself a whopping $30 million deep with a new client before calling out […]

Military Lending Act Continues to Plague Auto Finance Industry

Since the Department of Defense released its amended interpretive rule in December 2017, the Military Lending Act (MLA) has been a source of much confusion and consternation for the auto finance industry. Before that time, most of the industry operated under the understanding that the MLA’s exclusion from coverage for consumer credit transactions “expressly intended […]

John McCormick Joins Royal Media to Manage Content Production

NEW YORK, NY (October 10, 2018) — John McCormick, a seasoned content executive, has joined Royal Media as Editorial Director. McCormick comes to Royal from SourceMedia, where he had the same title for 10 years. He was also a long-time senior editor at Ziff Davis. As Royal’s Editorial Director, a newly created position, McCormick will […]

Five Questions With… Renee Horne of USAA

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. Renee Horne, vice president of consumer lending at USAA Bank Renee Horne, vice president of consumer lending at San Antonio, Texas-based USAA Bank since June 2016, leads […]

Maintaining Momentum: Outsourcing Could Be Key to Profitability as Subprime Lenders Exit the Field

Rising interest rates, a growing swell of delinquencies, and loose lending standards are conspiring against small subprime auto lenders. According to the New York Fed, 4.3 percent of auto loan balances were 90 or more days delinquent as of March 31, 2018. And as noted in Bloomberg, nonbank lenders’ subprime auto loans are going bad at the highest […]
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