All Posts | Auto Finance News - Part 4

CFPB outlines auto finance plans

While the Consumer Financial Protection Bureau focused supervisory and enforcement activity last year on mortgage lending, small business lending and student loan servicing, it hasn’t forgotten about the auto finance industry, according to the agency’s 2018 Fair Lending Report to Congress. In fact, several of the hot-topic issues the bureau has highlighted will have implications […]

Comments pour in on CFPB’s debt collection proposal

With 41 days left to submit feedback on the Consumer Financial Protection Bureau’s proposed amendments to the Fair Debt Collection Practices Act, more than 1,100 comments already have been filed. Of those comments, 469 were sent today. Many of the consumer comments claim that the number of contact attempts is too high and that allowing texts and emails […]

Bank of America joins AutoFi network

Bank of America recently partnered with AutoFi, a company that connects dealerships with lenders and car buyers online, to tap a new funnel of dealer partners, David Hollodick, the bank’s consumer vehicle lending product executive, told Auto Finance News. “As a leader in auto lending, we’re continually searching for new ways to expand our business […]

New system links lenders to repo agents in real time

In an effort to curb compliance issues related to wrongful repossessions, ALS Resolvion has implemented a system that links lenders and repo agents in real time. “Over the past couple of years, the Consumer Financial Protection Bureau has started to focus more on the repossession activities within lenders that they regulate,” Michael Levison, chief executive at Charlotte, […]

Used-vehicle volume to plateau in next 2 years

Used-vehicle sales volume at auction is expected to plateau over the next two years, according to Manheim’s Wholesale Market Insights report released today. Volume is expected to drop to 39.2 million units by yearend 2019 — from 39.4 million last year — and then fall to 39 million in 2020, Manheim predicted. Used-car sales volume in June […]

Japanese auto lender heats up ABS market with $468m issuance

Japanese auto financier Orient Corp. (Orico) is bringing $467.6 million of asset-backed securities to market in a deal that’s expected to close July 30. The notes were rated by Moody’s Investors Service and Fitch Ratings.  The deal is Orico’s second this year, propping up the lender’s U.S. ABS volume to nearly $1 billion. The latest […]

New-car prices inch up, EV prices tumble in June

New-vehicle prices climbed 3% year over year, averaging $37,285 in June, according to Kelley Blue Book. KBB analysts attributed the transaction price growth to the persistent demand for trucks and SUVs, pushing both sales and prices in those segments. In fact, light trucks and SUVs are estimated to account for more than 70% of June […]

HCA sues NY dealership for floorplan fraud

Hyundai Capital America is suing Cortlandt Manor, N.Y.-based Picon Auto on the grounds that the now-defunct dealership allegedly sold six Kia vehicles and failed to pay the captive. HCA claims that the dealer has eight additional Kia vehicles — that were transferred to a Milton, N.Y.-based Chrysler dealership — that it intends to sell. "Because Picon […]
  • Joey Pizzolato
  • July 5, 2019
  • Risk
Page 4 of 762« First...23456 102030...Last »