Under The Hood
High buyback values create silver lining for lenders
COVID-19 has turned the auto finance industry on its head, not to mention the adage that a car loses 30% of its...
Hurricane Ida piles on inventory woes
With inventory already reeling from supply issues, Hurricane Ida, which pummeled Louisiana and the Northeast last week, will dig the...
Auto fintech Finova files for bankruptcy
Despite having raised $155 million in venture funding and being touted as a fintech innovator for its auto equity line...
Santander settles deceptive lending case in Mississippi
Santander Consumer USA might finally have put its legacy lawsuits to bed. On July 21, Santander settled a 4-year-old case...
NY Department of Financial Services cracks down on dealer markup
The New York Department of Financial Services has sanctioned two banks for allowing dealer markups on auto loans, yet auto...
Gateway One SEC settlement comes 4 years too late
Late last week, the Securities and Exchange Commission announced a $6.5 million settlement with Gateway One Lending & Finance for...
Lenders bump up staffing levels despite pandemic
Despite some lenders’ cutbacks in sales, funding and repossession, auto finance staffing grew 12.7% last year, according to data analyzed...
Associated Bank picks up KeyBank’s team for auto sector reentry
Thanks to KeyBank’s 2020 exit of the auto finance sector, Associated Bank is returning to the space after a 10-year...
