Risk Management | Auto Finance News

NMAC wins $2.5m in floorplan fraud case

A federal judge has ruled in favor of Nissan Motor Acceptance Corp. after it was determined a used-car dealership defrauded the captive on its floorplan loan by selling vehicles out of trust. Helena, Mont.-based Robert Allen Nissan owes NMAC $2.5 million, plus attorneys fees and costs incurred by NMAC to date, according to a Nov. […]

Trump won’t hit EU with threatened car tariffs, Juncker says

U.S. President Donald Trump will not impose tariffs on European Union automotive goods next week as threatened, European Commission President Jean-Claude Juncker told German newspaper Suddeutsche Zeitung. “Trump will ruffle a bit, but there will not be any automobile tariffs,” Juncker said in the interview, which was published online Thursday. “He won’t do it. You’re […]

Top questions lenders should ask fintech partners

The number of fintechs seeking lending partnerships is growing, and lenders are coming to terms with the risks and rewards of such alliances. Fintechs offer great opportunities, including reaching new customers, improving customer service, automating manual processes, reducing costs and improving service in the way consumers obtain financing. These opportunities also bring risks associated with […]

AFS 2019: Internal factors, market competition likely to disrupt lender success in 2020 

LAS VEGAS — Half of the audience at the Auto Finance Summit 2019 identified internal factors and market competition as the top challenges that could impede their company’s success in 2020, according to live poll results revealed during the Summit.  On the heels of the audiences’ response, senior executives from Consumer Portfolio Services, GM Financial, […]

You’re welcome: The Fed gifts a strong auto finance sector

Apparently, Halloween is the new Christmas in auto finance. Yesterday, the Federal Reserve gifted the industry a 25-basis-point interest rate cut, the third time the Fed has cut rates this year. The central bank’s benchmark rate now stands at 1.5% to 1.75%. A present like that doesn’t even need gift wrapping. “We believe monetary policy […]

AFS 2019: Carvana, TFS, Tricolor, fraud coalition and US Bank’s Hyatt win 2019 Excellence Awards

LAS VEGAS – The Auto Finance Coalition, Carvana, Toyota Financial Services, Tricolor and U.S. Bank‘s John Hyatt are this year’s recipients of Auto Finance Excellence Awards, a mark of distinction within the industry for achievement in leadership, community service, and technology among other categories. For achievement in leadership: The Auto Finance Coalition, a subchapter of […]
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