FDIC chairman Jelena McWilliams reiterated three reasons why the regulator is looking to engage and collaborate with innovators in the financial and nonfinancial sectors to identify, develop and promote technology-driven solutions. During a speech to The Financial Conduct Authority’s 2019 Global AML and Financial Crime TechSprint last week in Washington, D.C., McWilliams revisited the premise of […] [Read More]

With potential buyers walking into the dealerships with smartphones and the ability to find information, DealerPeak’s Desk Max is looking to equip store personnel with a tablet-driven tool to generate vital data stemming from soft credit pulls, potential monthly payment details and more. DealerPeak recently enhanced its tool to users to log-in customers, add vehicles […] [Read More]

As finance companies know, critical data on tax liens and civil judgments is no longer included as part of the standard consumer credit report issued from all three major credit bureaus; a move that became effective last April. LexisNexis Risk Solutions recently released study findings that show how much more risk finance companies are absorbing […] [Read More]

The Drive Options vehicle subscription program operated by Cleveland’s Bernie Moreno Auto Group and powered by Clutch Technologies has added a wrinkle to its subscription services. Through Drive Options On Demand, consumers — be they Cleveland residents or visitors — will be able to access luxury vehicles for a short-term period and swap out cars […] [Read More]

This year, Avis Budget Group’s connected fleet will cover about 4 billion road miles. And that fully connected fleet could generate more than 7 billion road miles of data in 2020. To unlock new avenues for value creation from the data that connected fleet generates, Avis Budget Group on Wednesday announced a partnership with automotive […] [Read More]

As ADESA continues its focus on “creating a more seamless customer experience,” as its chief commercial officer puts it, the company has created a new role, naming a new vice president of major dealer accounts. In the new position, Scott Drehs will “direct and activate” the team that works to develop relationships with ADESA’s large-scale […] [Read More]

Used-vehicle sales are likely to reach 39.0 million for full-year 2019, still a healthy tally, but it would be down 1.1% from last year. That’s according to Oliver Strauss, who is chief economist for the ALG subsidary at TrueCar. There were 39.43 million used-car sales last year, he said. “Overall demand for vehicles has gone […] [Read More]

American Honda Motor Co. said Thursday it has enhanced the certified pre-owned vehicle programs for both the Honda and Acura brands, including upgrades that include new CPO benefits and stronger warranties as well as a new name and tiers for the Honda brand’s CPO offering. The enhancements arrive amid year-to-date certified sales gains for Acura (up […] [Read More]

Cox Automotive Canada said its planned new vehicle data capture service will provide seamless integrations between Dealer.com websites and Manheim's new dealer-to-dealer digital auction platform MUVIT. According to the company, that will invite dealers to have multiple uses of images across connected wholesale and retail products, “further enhancing the Cox Automotive ecosystem.” Cox Automotive Canada […] [Read More]

Perhaps it’s just happenstance that Edmunds spotted the average interest rate for new-vehicle financing softening to its lowest level of the year in the same timeframe as the Federal Reserve making its first interest-rate cut in 11 years. Edmunds reported on Thursday that the average APR on new models financed during July declined for the […] [Read More]