SubPrime Auto Finance News Staff

Ally Financial made a move on Tuesday to ensure a smooth transition involving one of the highest positions at the company. Ally announced that Jenn LaClair will be joining the company as chief financial officer designate, effective Monday, with the intent that she be appointed to succeed the company’s CFO, Chris... Read More

SubPrime Auto Finance News Staff

On Tuesday, Fiserv finalized a partnership with TransUnion to improve price, decision accuracy and expand the customer base within the automotive finance space. Officials highlighted integrating the automotive loan origination system from Fiserv with CreditVision Link from TransUnion will help increase precision of... Read More

New roles for 2 executives at Toyota’s captive

SubPrime Auto Finance News Staff

Among seven executive changes made by Toyota across its North American operations, two involve top leaders at the automaker’s captive finance company. Effective Jan. 1, the company said in a recent announcement that Scott Cooke will be group vice president and chief risk officer at Toyota Financial Services (TFS),... Read More

SubPrime Auto Finance News Staff

FICO is hosting a free webinar to sort through the details of an important accounting change that might be giving auto finance companies grief in meeting new standards that change how institutions account for expected credit losses. FICO experts plan to explain the Current Expected Credit Loss (CECL) requirements... Read More

Dylan Howard, Baker Donelson

Having increased in number each of the past seven years, lawsuits alleging violations of the Telephone Consumer Protection Act of 1991 (TCPA) continue to plague the consumer finance industry. As should be expected with an already complex statutory scheme, recent decisions have had a decidedly mixed effect, increasing... Read More

SubPrime Auto Finance News Staff

Huntington Bank looked within its ranks to fill a position set to be open because of a retirement as the institution has promoted industry veteran Rich Porrello to president of its auto finance business. Since 2010, Porrello has served as managing director of the auto finance division where he oversees day-to-day... Read More

SubPrime Auto Finance News Staff

More service providers are working together to help dealership finance departments. This week, Dealertrack and DealerCenter announced a strategic integration partnership delivering a more connected F&I workflow. Independent dealerships using DealerCenter's DMS platform can seamlessly connect customer information... Read More

SubPrime Auto Finance News Staff

Each of the five metrics involving used- and new-vehicle financing that Edmunds tracks each month moved higher in November. That collection includes averages for terms, monthly payment, the total amount financed, APR and down payment. Edmunds manager of industry analysis Jeremy Acevedo pinpointed a reason why the... Read More