All Posts | Auto Finance News - Part 4

6 indicted for straw-buying fraud

Two owners of a Moline, Ill.-based car dealership — 4th Avenue Auto Sales — have been indicted along with four co-conspirators on straw-buying fraud and odometer tampering, according to a filing with the U.S. District Court for the Southern District of Iowa. The owners, Bradley Shane McCorkle and Isaac Bell, would recruit straw buyers to […]

Understanding how GLBA exemptions affect CCPA

The California Consumer Protection Act (CCPA) goes into effect in January, and although California Attorney General Xavier Becerra has said his office won’t enforce the law until July, lenders should start preparing now, said Michael Benoit, partner at Hudson Cook. One important aspect of that preparation is understanding how exemptions in the Gramm-Leach-Blilley Act (GLBA) overflow into the CCPA. […]

How to speed funding processes

A hyper-connected society has come to expect near-instantaneous business transactions. Whether it’s an Amazon purchase, concert tickets or a flight to London, consumers expect a quick, efficient experience. Although auto lending is more complicated than those purchases, lenders can leverage the latest technologies to deliver similar efficiency. Many lenders have optimized loan application and underwriting processes. However, […]

Tesla aims to deliver made-in-China cars before late January

Tesla Inc. said it’s planning to start delivering made-in-China Model 3 cars before late January, another sign that the company is nearing mass production in the world’s largest auto market. “We are making an effort to gradually deliver before the Spring Festival to let our customers drive our China-built Model 3 sedans back home for […]

Testing the resiliency of auto ABS

The auto asset-backed securities market continues to attract investors — even from overseas. While market headwinds brought on by lengthening loan terms, trade disagreements and a potential economic downturn test the market’s resilience, closer examination of the auto ABS structure proves the strength of these bonds in the face of adversity. In fact, investor appetite […]

Ally Financial spotlights customers for ‘Banksgiving’ [Video]

Ally Financial has recognized three customers who selflessly contribute to their communities not just during the holiday season, but every single day, said company Chief Marketing and Public Relations Officer Andrea Brimmer.  From running nonprofits to volunteering and fundraising, Ally is giving back to the customers that are giving their all to help their communities […]

GM’s lawsuit against Fiat Chrysler raises risks for PSA deal

General Motors Co.’s surprise racketeering lawsuit against Fiat Chrysler Automobiles NV has raised the risks for the Italian-American company’s plan to combine with Peugeot-maker PSA Group of France. The suit filed in federal court in the U.S. alleges Fiat Chrysler inflicted billions of dollars in damages by bribing United Auto Workers’ brass for competitive advantages […]

Resolvion recruits Ally’s Russi following merger

On the heels of completing a merger last week, Resolvion has beefed up its ranks with a 30-year auto finance executive, said Chief Executive Michael Levison. Tim Russi, whose career has spanned institutions including Bank of America and GMAC, has been named to Resolvion’s board, the company announced yesterday. Prior to joining the repossession management […]
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