As the Consumer Financial Protection Bureau takes a closer look at alternative data, the American Bankers Association delivered an eight-page comment letter containing a half dozen suggestions about the current and potential use of alternative data and modeling techniques in the credit process. Along with the suggestions, ABA also raised regulatory concerns, especially when using […] [Read More]

GWC Warranty, a provider of used-vehicle service contracts and related finance and insurance products sold through dealers, this week released Dealer Portal 2.0 — the latest enhancement to GWC’s online e-contracting platform. The company indicated Dealer Portal 2.0 introduces to dealers a series of new features and enhancements designed to make e-contracting with GWC Warranty […] [Read More]

The point of big data and analytics, CARPROOF vice president Joe Varkey says, is not to just generate a ton of data. You have to make it useful for your customers, he adds. That’s where Shane Dejong and his team come in. Dejong is product manager for data science at CARPROOF and he heads up the […] [Read More]

Cox Automotive Canada has introduced a redesigned website to the Canadian automotive remarketing industry. "Knowing our clients spend more time online than ever before, our website has been redesigned from a ‘mobile-friendly’ perspective; delivering a seamless experience—whether you are on your desktop computer or mobile device," Cox Automotive Canada said in an announcement Wednesday.  The coxautoinc.ca […] [Read More]

While determining that overall April wholesale prices moved higher both sequentially and year-over-year, KAR Auctions Services chief economist Tom Kontos drilled deeper into the latest data, focusing on what he called “two bellwether model classes.” And what he found tells a much different story about what happened in a particular pocket of the wholesale space last […] [Read More]

KISS Concepts Group founder and president Rod Heasley has joined American Auto Shield to build a vehicle service contract program that will give consumers the ability to choose their own terms, coverage, mileage and price. Heasley will serve as president of an American Auto Shield division dedicated to developing the company’s upcoming vehicle service contract […] [Read More]

Even as TransUnion noted that auto finance origination volume appears to be losing a little steam, the Federal Reserve Bank of New York’s Household Debt and Credit Report released on Wednesday showed how the balances consumers are absorbing for their vehicles helped to push total consumer debt above the highest level ever recorded. The report […] [Read More]

Alternative credit data provider FactorTrust and 700Credit, which offers credit reports, compliance solutions and prescreen products, finalized an alliance this week to provide buy-here, pay-here dealers with access to alternative credit information for potential customers who have thin credit files or are underbanked. The companies pointed out that many customers who lack the traditional loan […] [Read More]

The American Bankruptcy Institute reported that total U.S. bankruptcy filings fell nearly 4 percent year-over-year in April. According to data provided by Epiq Systems, bankruptcy filings totaled 67,670 in April, down 3.96 percent from the 70,457 filings reported in April of last year. The 64,323 total noncommercial filings recorded in April represented a 3.93 percent […] [Read More]

While wholesale auctions are still the primary channel for commercial vehicle owners to remarket end-of-cycle vehicles, a growing trend among progressive vehicle remarketing professionals has been to sell vehicles through the emerging retail channel, either through their own dealerships, online service providers, or retail consignment. What’s driving this trend? 1. Growth in off-lease volume First […] [Read More]