Attorneys general are continuing to implore the Consumer Financial Protection Bureau to be an aggressive regulator. Through a letter delivered on Wednesday, New York attorney general Barbara Underwood — part of a coalition of 14 AGs — called on the CFPB and acting director Mick Mulvaney to continue protecting the rights of consumers against credit […] [Read More]

Equifax is looking to help banks navigate one of the most complicated accounting changes ever instituted. On Wednesday, Equifax unveiled its SmartReserve offering to help banks and financial institutions registered with the Securities and Exchange Commission meet the new Current Expected Credit Loss (CECL) standards ahead of the deadline that’s set for the first quarter of […] [Read More]

Group 1 Automotive has added a former Deloitte executive to its board of directors, bringing the total number of board members up to 10. The retailer announced Wednesday that joining its board effective immediately is Anne Taylor, who worked for Deloitte in such roles as its first chief strategy officer, managing partner of the Houston […] [Read More]

With various economic and political factors at play, don’t expect the strength in the used-car market, be it unit sales or prices, to die down any time soon. “Our view is that it’s going to go on for quite some time,” Cox Automotive senior economist Charlie Chesbrough said Tuesday during a conference call with reporters. […] [Read More]

CarMax Inc.’s wholesale auction arm just extended its reach. CarMax Auctions is also mulling over allowing dealers that buy vehicles at its auctions in person to one day buy those vehicles online, said Fred Stark, CarMax assistant vice president of auction services. “Simulcast is certainly something we’re interested in testing,” he said. “It’s not something […] [Read More]

Car enthusiasts were asked which NFL franchise reminded them of a driverless car, and the obvious choice could have been one of two teams near Silicon Valley, given the region’s ties to automotive tech. But instead, participants in the fourth annual NFL and Cars survey from Swapalease.com most often cited the Cleveland Browns (at 19.3 […] [Read More]

Along with sharing its latest update on the specialty markets, Black Book reported that wholesale prices remained steady and volume a bit constricted as the calendar flipped to September. The latest Market Insights report highlighted the strength mainstream sedans have had in the market. Coupled with the effects of increased SUV inventory over the last […] [Read More]

How vehicles are being used continues to evolve with measurements of changes being catalogued in figures like millions and billions. A new study from Juniper Research released on Tuesday has found that adoption of MaaS (Mobility-as-a-Service) platforms will replace more than 2.3 billion urban private vehicle journeys annually by 2023, compared with just 17.6 million […] [Read More]

On Tuesday, Copart announced the opening of its seventh location in Brazil. The facility is located at Estrada da Roseira, 6.725, bairro Borda do Campo, Sao Jose dos Pinhais, near the city of Curitiba, the capital of the state of Parana. Copart highlighted the new Curitiba location, which can store up to 7,000 vehicles, is […] [Read More]

While trends involving zero percent finance deals for new vehicles intrigued analysts, Edmunds also noticed jumps in annual percentage rate (APR) and down payments to get used vehicles delivered in August. According to data shared on Tuesday, Edmunds determined that the average APR for used-vehicle financing organized at franchised dealerships in August rose 79 basis […] [Read More]