Auto Innovation Stands to Benefit from CFPB’s Newly Launched Regulatory Sandbox

The Consumer Financial Protection Bureau is trying to “nudge” auto finance innovation, too. The regulator earlier this week unveiled a new “regulatory sandbox,” known as the Global Financial Innovation Network (GFIN), that is intended to help fintech startups develop new products and services for the financial services — and the initiative has import to auto finance. CFPB hired […]

Flagship to Add Lenders, Customization Options on CarFinance.com

CarFinance.com is building a platform for its lender partners to “build their own” portals on the website, chief executive Craig Hewitt told Auto Finance News. The new offering from CarFinance.com will allow its lender partners to pick and choose the financial products they offer through the portal, Hewitt said. “We’re designed to be the consumer landing […]

Treasury Proposes Changes to Debt Collection Communication

The U.S. Department of the Treasury called for the modernization of collection laws in the financial services industry in a report issued last week in order to clarify the regulation of digital communications. Specifically, the Treasury called on the Consumer Financial Protection Bureau to update rules on the Fair Debt Collections Practices Act (FDCPA). “We […]

The Pros and Cons of Consumers Pursuing a Private Sale

Summer is a prime time for auto sales. New college graduates, new hires, and recent empty nesters are likely to be in a vehicle transition phase. While most people go through a dealership for their auto purchase, many also consider selling or buying their vehicles through a private sale. As a lender, how does the […]

Carvana Originations More Than Double Amid Geographic Expansion

Carvana’s originations of finance receivables increased to $525.8 million during the first six months of 2018, compared with $223.8 million during the same time last year, according to the company’s second-quarter earnings released this week. That boost in financing tracks with the online dealership’s higher retail sales expectations this year. Sales climbed 111% during the second […]

3 Shanghai Automotive Leasing Executives to Speak at Asia Summit

Three leading automotive leasing executives have joined the Auto Finance Summit Asia speaker roster to detail their experiences in the industry and share insights on how to grow leasing penetration in China. The panelists are all members of the event’s host partner the Shanghai Leasing Trade Association and will speak on a session entitled “The […]

Healthy Economy, Rising Challenges: How Climbing Interest Rates Highlight an Uncertain Future

After years of record lows, interest rates are on the rise again — but the Federal Reserve’s 25-basis-point hike in June has yet to send shockwaves through the industry. However, further rate increases — combined with rising gas and new-car prices, looming tariffs, and lengthening loan terms — have put the industry on track for […]
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