On Thursday, DRIVIN — a service for dealers that utilizes data to help sell, source, acquire and deliver quality used vehicles for its partners — announced that the company is expanding its partnership with Silicon Valley Bank (SVB) with a new $6.5 million senior debt facility. With more than 500-percent growth in monthly transaction volume […] [Read More]

This week, EFG Companies and Northwood University announced the student competitors and F&I mentors participating in the second annual F&I Innovator of the Year competition. Vying for $25,000 in prize money, this year’s 18 contestants hail from Arizona, California, Illinois, Indiana, Michigan, New Jersey, Pennsylvania and Wisconsin, and the mentors come from six different franchised […] [Read More]

FactorTrust is looking for finance companies to add another consumer definition to their lexicon, encouraging lenders to examine the underbanked population with a new lens. FactorTrust is advocating that the 113 million U.S. consumers with FICO credit scores currently below 700 should be recognized as CreditClimbers — consumers determined to improve their credit scores in order […] [Read More]

As U.S. commercial bankruptcy filings continue to surge higher, the American Bankruptcy Institute noticed an uptick in consumer filings in August, too. According to data provided by Epiq Systems, total bankruptcy filings increased 1 percent to 68,495 in August, slightly up from the year-ago figure of 67,777. ABI indicated consumer filings constituted 65,296 of last […] [Read More]

The Federal Trade Commission is seeking public comment associated with a pair of statutes often connected with collections, repossessions and recoveries. First, the FTC wants the public to share thoughts on its Disposal Rule, a rule that implements part of the Fair and Accurate Credit Transactions Act of 2003 (FACTA). Officials recapped that the Disposal Rule, […] [Read More]

Tile, a Silicon Valley-based smart location company, and Axiom Product Administration, a finance and insurance (F&I) product company, recently signed an exclusive distribution partnership to help protect individuals from the stress and expense of losing their vehicle keys. The Revolution Key Protection program, or RevKey, will combine a new protection product by Axiom along with […] [Read More]

GSFSGroup, a nationwide provider and administrator of F&I products and hiring solutions for the automotive industry, recently launched what the company is calling the Dealer Executive Dashboard. It’s a flexible online data solution that can offer GSFSGroup dealers and agents a host of benefits to help with strategies to improve dealer profitability. Dealer Executive Dashboard […] [Read More]

One of the ways that Greenville Auto Auction stands out as a great place to work, says general manager Billy Willis, is that the owners are deeply involved. “They are hands-on every week, not just regarding business, but caring for personal needs of our team,” Willis said. “Each individual team member feels a worth due […] [Read More]

Jeff York, general manager at ADESA Sarasota, pointed out four methods for boosting morale on his team. First on the list was communication. “We try to set clear expectations and to engage with everyone,” he said. York also strives to be accessible and approachable, saying that he has “an open-door policy with no exceptions.” The […] [Read More]

Louisiana’s 1st Choice Auto Auction is working on a streak that’s about seven years old. Managing partner John Poteet explained what the operation’s successful run means for all employees — from the part-time driver who maneuvers vehicles down the lanes of the Hammond, La., auction to the general manager and other top leaders. “We want […] [Read More]