Nick Zulovich, Senior Editor

Hudson Cook partner Allen Denson read through the auto-finance portion of the latest Supervisory Highlights shared by the Consumer Financial Protection Bureau and immediately thought of another credit segment. The CFPB’s report described problems bureau representatives found with vehicles being repossessed after... Read More

SubPrime Auto Finance News Staff

Credit Bureau Connection (CBC) and Clarity Services have partnered to provide dealers and finance companies what the service providers say is a first-of-its-kind, comprehensive view of a consumer’s credit history. The companies explained exclusive subprime credit data combined with existing traditional credit... Read More

SubPrime Auto Finance News Staff

Two of the highest ranking officials in New York are using the Equifax security breach to intensify actions within the Empire State, bringing Experian and TransUnion into the matter, too. On Tuesday, Gov. Andrew Cuomo directed the New York Department of Financial Services to issue new regulation making credit reporting... Read More

SubPrime Auto Finance News Staff

Analysts aren’t panicking, but the auto portion of the S&P/Experian Consumer Credit Default Indices made its largest sequential jump in almost six years. On Tuesday, S&P Dow Jones Indices and Experian released data through August and reported the auto loan default rate rose by 9 basis points as compared to... Read More

SubPrime Auto Finance News Staff

A suit involving vehicle repossessions and members of the military came to a close Monday. The Justice Department announced that CitiFinancial Credit Co., as successor to CitiFinancial Auto Corp., has agreed to pay $907,000 to resolve allegations that it violated the Servicemembers Civil Relief Act (SCRA) by... Read More

SubPrime Auto Finance News Staff

DIMONT is deploying DANA to help the auto-finance industry handle the ramifications of Hurricanes Harvey and Irma. DANA — which is DIMONT Associates Nationwide Adjusters — now is available with a team ready to provide claims management guidance to finance companies and servicers in the aftermath of these... Read More

NADA offers strategy to handle Equifax concerns

SubPrime Auto Finance News Staff

The National Automobile Dealers Association cautioned store managers and personnel that they’re likely to see two trends surface with regard to the Equifax security breach as customers arrive in the showroom or service drive. Mark Scarpelli, who is the 2017 NADA chairman, specified the two probable scenarios in a... Read More

SubPrime Auto Finance News Staff

CoreLane Technologies, a provider of innovative transactional connectivity solutions for automotive dealers and finance companies, on Monday announced the launch of CreditLane, a low-cost, scalable cloud-based platform for delivering data between dealers and finance companies. CoreLane will debut the new platform this... Read More