In light of the Consumer Financial Protection Bureau indicating an interest in looking at how repossession agencies charge consumers for items such as vehicle storage and personal property, Vendor Transparency Solutions (VTS) contends mistakes can lead to investigations, financial penalties or worse actions. So to help agents get going on the right foot this year, […] [Read More]

In an action one of the credit bureaus acknowledged through a filing with the Securities and Exchange Commission, the Consumer Financial Protection Bureau confirmed on Tuesday that it took action against Equifax, TransUnion and their subsidiaries for what they regulator deemed to be “deceiving consumers” about the usefulness and actual cost of credit scores they […] [Read More]

Before the year closed, Reynolds and Reynolds added to its collection of libraries of standardized, legally reviewed finance and insurance (F&I) documents for dealers while a subprime finance company serving the Midwest — U Drive Acceptance — moved into new offices. Furthermore, FICO is looking to help finance companies begin 2017 successfully by dissecting alternative […] [Read More]

AutoNation announced on Wednesday that it's begining the year by hosting a coast to coast all-day hiring event on Tuesday in 15 cities. There are thousands of sales and service positions available at all stores and service centers, according to AutoNation. Store management will be present at each city’s hiring event and offers will be extended to […] [Read More]

Nearly a year after doubling the floor plan credit line for online retailer Carvana, Ally Financial announced a new agreement with the company on Wednesday where the finance company will make up to $600 million available to Carvana during the next 12 months through financing and bulk purchases of contracts. Tim Russi, president of auto […] [Read More]

Dominion Dealer Solutions announced on Tuesday that its full-featured dealer management system, Dominion ACCESS has integrated with FCA USA’s wiADVISOR, a device powered by Dealer-FX. “We are pleased to be the pilot DMS for Dealer-FX’s new API. It will give our Chrysler dealers the service write-up tools they need to maximize every opportunity on the […] [Read More]

Auction Academy, a continuing education program developed by TPC Management Co. for professionals in the auto auction industry, reports that it closed the year graduating its fourth class, and hosting the last session of its recently expanded annual Seminar Series. “In planning both our two-year Program and the shorter focused Seminar Series, we continue to cover topics that […] [Read More]

TradeRev, a mobile appraisal and auctioning app for dealers, opened its U.S. headquarters in Carmel, Ind., on Tuesday. The company, which is part of KAR Auction Services, has been expanding globally but wanted a “centralized headquarters” for its U.S. operations. “We are officially planting our roots in the U.S. with our new headquarters office that […] [Read More]

The challenges facing franchised dealers these days are as big as they are diverse. Regulatory pressure from Washington, D.C. A vehicle recall process that can be frustratingly sluggish. Technological changes that impact the retail model, vehicle ownership and the vehicles themselves. But if there’s one thing dealers have in their arsenal it’s this: resiliency. That […] [Read More]

Edmunds opened the first major business day of 2017 by debuting a refreshed logo and what the company described as a “completely reinvented online experience.” Officials said this launch marks the most dramatic change Edmunds has ever made to its site design, and the first time it has changed its logo this century. The company is […] [Read More]