Wells Fargo said Friday it has entered consent orders with the Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau, under which the company will have to pay civil penalties totaling $1 billion. The consent orders with the OCC and CFPB deal with matters involving Wells Fargo’s compliance risk management program […] [Read More]

While brick-and-mortar auction houses might be a more comfortable marketplace for some, when it comes to obtaining profitable used vehicles priced $12,000 and below — the best deal might just be online. Dealers who want to be sure they have turned over every stone in search of inexpensive vehicles can take advantage of all upstream closed online […] [Read More]

Columbus Fair Auto Auction added another piece of hardware to its trophy case this week. In a ceremony prior the start of Wednesday’s sale, CFAA was awarded Ally Financial’s Auction of the Year Leadership Award for 2017. The award recognizes the auctions’ overall sales, performance and growth for the year. This accolade marks the third year […] [Read More]

Along with an effort to raise awareness and funds for Special Olympics NY, GrooveCar is running its annual April Auto Sales Event starting on Friday through its network of participating credit unions and dealerships. Credit unions in the New York region publicize the event to more than 1 million members with the message of savings […] [Read More]

Darwin Automotive’s menu for dealership F&I departments became even more robust this week. Darwin announced that it has added Zurich North America’s F&I products to the Darwin core F&I menu, as well as Darwin digital retailing and service menu. “We are thrilled to add access to Zurich’s suite of F&I products to our growing network, […] [Read More]

Not only did the Canadian Black Book Used Vehicle Retention Index beat year-ago figures by more than 3 percent in March, it tied an all-time record. Canadian Black Book shared the index report earlier this week, noting that the 103.0 reading for March was on par with the best-ever tally in December. It was a 3.2-percent […] [Read More]

Uber has given Torontonians access to the data it collects from trips across the city daily. Via the company’s new Uber Movement tool, residents and city planners can now make decisions using traffic pattern information captured during the company’s GPS-tracked trips. Along with hearing from different cities that access to Uber aggregated data could help […] [Read More]

Four of the industry associations with significant presence on Capitol Hill celebrated on Wednesday after the U.S. Senate passed a Congressional Review Act Resolution (S.J. Res. 57) to repeal the 2013 Auto Finance Bulletin issued by the Consumer Financial Protection Bureau. To recap, industry representatives maintained that the CFPB’s 2013 Bulletin on indirect auto financing […] [Read More]

One of the faces well known with Ally Financial’s auto finance business is leaving the company as part of key leadership changes announced on Thursday in association with changes to its auto finance, insurance and risk management organizations. According to a news release, Doug Timmerman has been named president of auto finance and will assume […] [Read More]

While a large number of American tax filers were abandoned by the Internal Revenue Service’s website just hours before this year’s deadline, many Americans — including plenty of millennials — claim to have filed before the end of March. It turns out that not only did millennials say they were filing early, but to a great degree, many say they will spend their […] [Read More]