Auto Finance Excellence | Auto Finance News - Part 5

TFS debuts lease waiver for military families

As Independence Day nears, both Toyota Financial Services and Lexus Financial Services are honoring the men and women in uniform and their families with a new program that waives remaining lease payments for Gold Star spouses and families. Gold Star spouses and families are relatives of service members who die or are “catastrophically injured” in […]

Fighting fraud with fintech

To counter the continued rise in fraud, auto lenders of all sizes are counting heavily on risk management and loss mitigation. For small lenders, risk management may be the part-time responsibility of one employee. Banks, captives, and credit unions may devote an entire team to the endeavor. However, the degree of diligence devoted to risk […]

CFPB Supervisory Highlights Provide Guidance on Deficiency Balances and Rebates

Under Richard Cordray’s Consumer Finance Protection Bureau (CFPB), it was “compliance malpractice” not to take heed of the Bureau’s enforcement actions when determining how to comply with federal consumer finance laws. Both Acting Director Mick Mulvaney and current CFPB Director Kathy Kraninger have stated that the Bureau will no longer engage in such “regulation by enforcement.” While this change in position is […]
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