Auto Finance Summit | Auto Finance News | Page 4 | Auto Finance News - Part 4

4 Tips for Setting Up Your CMS for Compliance Success

LAS VEGAS — Compliance is a necessary but logy topic that all lenders and dealers must comply with, and having a proficient compliance management system (CMS) has — by virtue of its association with compliance –, also become a de facto necessity. For Veros Credit, it took two years of building out its in-house CMS […]

Ally Boosts Carvana’s Financing to Spur Volume Growth

Ally Financial Inc. has renewed and increased its financing deal with the online, delivery dealership Carvana on Tuesday, according to a press release. The lender agreed to fund $2 billion worth of retail contracts through the dealer’s network for the next year. In January, Ally had committed to fund $600 million worth of retail contracts […]

Mobility to Change Secondary Market, Goldman Economist Says

LAS VEGAS — Goldman Sachs & Co. is mulling how to structure new ownership and investment models as lenders eye a mobility-focused future in which financial institutions are lending more for fleets of vehicles rather than for individual service contracts. “You’ll see more transition to institutions becoming fleet managers,” Robert McDonald, vice president of structured […]

GM Financial Braces for Off-Lease Vehicle ‘Onslaught’ in 2018, CEO Says

LAS VEGAS — General Motors Financial Co. has sustained double-digit year-over-year loan and lease growth this year, however, depreciating used-vehicle values will create headwinds moving forward, said President and Chief Executive Dan Berce. “Our key goal for GMF is to survive the residual value onslaught as supply is going to keep through until 2019,” Berce […]

MBFS Seeks Involvement From Customers for Tech Developments

LAS VEGAS — Mercedes-Benz Financial Services is slated to launch a “customer insight community” within the next year, designed to engage current and former customers throughout the captive’s entire idea-to-prototype technology development process, Chief Digital Officer Rodolfo Dominguez said at the 2017 Auto Finance Summit. While Dominguez did not share specific ideas or prototypes that […]

Auto Market on Track for Growth Through 2019, Economist Says

LAS VEGAS — The U.S. auto market will “continue to improve” on the heels of a good economy and low interest rates, without threat of recession through at least March 2018, said Eugenio Alemán, director and senior economist at Wells Fargo Securities. “We have tried to calculate that recession probability, and it is 0% today,” […]
  • Emma Sandler
  • November 2, 2017
  • Archives

FTC Simplifies Subpoena Process

LAS VEGAS — The Federal Trade Commission is focused on streamlining its process for criminal investigative demands (CIDs) and easing the process for lenders, said agency Attorney Maricela Segura. Acting FTC Chairman Maureen Ohlhausen made it a priority to simplify these subpoena procedures for financial institutions and dealerships that fall under regulatory scrutiny. The FTC […]
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