Auto Finance Risk Summit to Examine Top Strategies for Risk Management

The auto finance market today has thrown a curveball at lenders with rising interest rates, slipping new-vehicle sales, uncertain regulations, and mounting dealership fraud. The 12th annual Auto Finance Risk Summit will delve into these issues and others of top concern for lenders. Auto Finance Risk Summit participants will gain insights on fraud risk, learn […]
  • Nicole Casperson
  • January 16, 2019
  • Risk

Massachusetts AG Slaps Lender With $700,000 Fine for Deceptive Practices

Massachusetts Attorney General Maura Healey has ordered Sensible Auto Lending LLC to pay $733,925 to resolve allegations it knowingly facilitated the sale of defective vehicles by certain used-car dealerships. The Danbury, Conn.-based auto lender agreed to provide relief for consumers who were “cheated” by F&R Auto Sales Inc. and three other Massachusetts dealerships from August […]

Capital One Auto Finance Sues Missouri Dealership for Fraud

Capital One Auto Finance filed a lawsuit against Cape Girardeau, Mo.-based Coad Toyota claiming $619,690 in damages for allegedly misrepresenting facts about vehicles sold and falsifying down payments and sales tax in 34 instances, according to court documents filed Dec. 21, 2018. In one example cited in the lawsuit, the dealership allegedly supplied information to […]

Lenders Need to Guard Against Post-Data-Breach ‘Credit Washing,’ Analyst Says

Auto lenders are likely to tighten underwriting standards to stave off “credit washing,” a type of fraud that has become more popular amid an increase in data breaches, LexisNexis Risk Solutions analysts told Auto Finance News. Credit washing occurs when a borrower disputes negative information in a credit report, prompting the agency to “clean,” or temporarily […]

Westlake Exec Outlines Auto Finance Strategy for the Current Economic Cycle [VIDEO]

Technology tools will help lenders navigate and excel in the current financial cycle, said Paul Kerwin, Westlake Financial EVP and CFO, at the 18th Annual Auto Finance Summit. “For auto finance, we’re really in a new cycle and a new game,” Kerwin said. “The cycle started in 2009. Everything was pretty easy — there wasn’t […]

TD Auto Aims to Resolve Customer Payments in Wake of Dealership Chain’s Bankruptcy

TD Auto Finance has worked up a plan to help borrowers negatively affected by the Reagor Dykes Auto Group bankruptcy case, according to court documents filed earlier this month. Consumers who obtained vehicles through the Lubbock, Texas-based dealership chain, which filed for Chapter 11 bankruptcy protection in August, were unable to properly register their new […]

Westlake Financial Integrates AI Anti-Fraud Solution

Westlake Financial has enlisted the services of PointPredictive, an artificial intelligence-enabled risk management and anti-fraud solution. Westlake will use the scoring solution – called Auto Fraud Manager – to identify misrepresentation and prevent delinquency on high-risk applications. The risk engine is based on an algorithm that is trained with each new lender’s data set. More […]
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