Nissan Motor Acceptance Corp. | Auto Finance News | Auto Finance News

NMAC settles DOJ suit over unlawful repos with $3M payment

Nissan Motor Acceptance Corp. has agreed to pay the Department of Justice $3 million following allegations that the captive violated the Servicemembers Civil Relief Act (SCRA), a law designed by the DOJ to ease financial burdens on servicemembers during periods of active military service.  The suit alleges that Franklin, Tenn.-based NMAC repossessed 113 vehicles owned […]

Wells Fargo settles TCPA claims with $18M payout

Regulators have approved Wells Fargo’s $17.85 million deal to settle lawsuits accusing the bank of violating the Telephone Consumer Protection Act, a law designed by Congress to protect consumers from receiving unwanted communications without prior consent.  Wells Fargo has agreed to pay a nationwide class of 440,000 consumers who claim they received automated calls from […]

Auto ABS heats up with $4.7B of issuance

A handful of prime and subprime securitizers pumped up ABS volume this week, bringing $4.7 billion of loans and leases to market, according to presale reports from S&P Global Ratings.  Auto ABS volume totaled $61.3 billion as of July 8, up 12.7% year over year, according to data from JPMorgan Securities. On the prime side, […]

Auto ABS Volume Closes In on $60B

Year-to-date auto securitization volume hit $57.8 billion at the end of April, with prime loan issuance accounting for the lion’s share of transactions, according to research released today by Deutsche Bank. Prime loan securitization volume totaled $23.7 billion, and subprime volume reached $12.8 billion. The remaining volume was comprised of retail lease ($9.8 billion), fleet […]

3 Themes to Watch in April

Last month, compliance and operations stories dominated the ranks as Auto Finance News’ most-read March stories. Below are AFN's top three themes to monitor, as determined by the six most-read stories in March. TCPA Settlements As the auto regulatory environment continues to heat up with stiffer oversight on both state and federal levels, TCPA settlements […]

NMAC Shells Out $2.2M to Settle Claims of TCPA Violations

Nissan Motor Acceptance Corp. has agreed to pay $2.2 million to resolve allegations that it violated the Telephone Consumer Protection Act, a law designed by Congress to protect consumers from receiving unwanted communications without prior consent. NMAC denied all liability in the case, according to a March 18 motion filed in California federal court. Per […]
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