Strategy | Auto Finance News - Part 5

BB&T-SunTrust Merger to Establish $23B Auto Finance Operation

BB&T Bank’s acquisition of SunTrust Banks is likely to combine auto lending operations in a move that will improve efficiency but take time to configure, analysts told Auto Finance News. A SunTrust-BB&T merger would create a $22.8 billion auto finance operation, propelling the business into the top 20 among auto financiers, according to Big Wheels […]

Credit Unions Curb Financing for Independent Dealers

With credit unions slowing the pace of originations, about 30% of the independent dealers on CU Direct Lending’s platform pulled out last year, CUDL President and Chief Executive Tony Boutelle told Auto Finance News. "We’ve seen probably 1,000 independent dealers come off our program [in 2018] because our credit unions stopped doing financing for them," […]

AutoGravity to Streamline Applications With Experian Data

AutoGravity has set the wheels in motion to integrate consumer behavior data from Experian Automotive into its digital car-buying platform. “There’s an idea of what the perfect digital auto retailing is, and then there’s where we are today — and there’s this massive gap in between,” Mark Humphrey, AutoGravity’s vice president of lender network, told […]

Fed Won’t Tap Brakes Until It’s Ready for a Recession

Federal Reserve watchers have spent the better part of a decade arguing about what policy normalization should look like. Last week, in response to events over the past few months, the Fed declared monetary policy more or less normalized. With the Fed seemingly out of the picture for the time being, if the economy cooperates, […]

Ally Expects Steady Originations in 2019, President Says

Ally Financial Inc. hit a “sweet spot” with its auto portfolio last year and is focusing on keeping that consistency throughout 2019, President of Auto Finance Doug Timmerman told Auto Finance News. The bank grew its auto portfolio 2.1% year over year to $35.4 billion at yearend 2018, as delinquencies increased and charge-offs declined, the company reported in fourth-quarter […]

AutoFi Leans on Ford Credit Partnership for Market Expansion

  AutoFi is expanding its dealer base this year with the help of Ford Motor Credit, entering the Michigan market and expanding its footholds in California and Texas, Head of Lender Success Ben Atkinson told AFN. AutoFi is a company that connects dealerships with lenders and buyers online for vehicle purchasing. This year, AutoFi will […]

Fed’s Dovish Pivot Flattens Remaining Rate-Hike Expectations

Chairman Jerome Powell signaled the Federal Reserve won’t raise interest rates again until inflation accelerates in a dovish pivot that left many investors betting against any further hikes in this economic expansion. Not only did central bankers drop a reference to “further gradual increases” in their statement on Wednesday, they implied the next move could […]
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