In the past, Consumer Financial Protection Bureau director Richard Cordray called complaints the agency’s compass. And earlier today, the CFPB finalized its policy about how those complaints are gathered and posted — and more importantly for finance company leaders — how institutions can respond to those complaints. CFPB officials explained that when consumers submit a […] [Read More]

Executives representing community banks and credit unions want federal lawmakers to study the impact financial agencies are having on them considering that these smaller operations believe they are being hit with the same regulatory zeal as what’s being unleashed on much larger institutions with more resources. During a U.S. House Financial Services Committee focused on preserving […] [Read More]

Auction and industry award announcements continued Thursday at the NAAA/IARA/CAR Conference in Las Vegas, with more businesses being honored for their performances. Starting off with Avis Budget Group, the 2014 Avis Budget Group Auction Performance Award Winners are below: Overall Volume Leader: Manheim Dallas Best New Auction Performance: Manheim San Francisco Bay Best Performance Retention […] [Read More]

Coming off a year during which growth and acquisitions were a top priority, AutoCanada is continuing to expand with the announcement it will build an open-point Kia dealership in Winnipeg, Manitoba. The dealer group announced this week it has signed a letter of intent with Kia Canada Inc., which will award the new open-point store, […] [Read More]

We are still in the first quarter, but waves are already being made on the dealership acquisition front. It was recently announced that AutoPlanet Automotive Group has bought the largest automotive group in Niagara. Brampton-based AutoPlanet announced this month is has acquired Performance Auto Group. AutoPlanet — owned and operated by second-generation dealers Glen and […] [Read More]

Nineteen independent auctions were honored Tuesday night by Manheim during the OVE.com Awards Ceremony at the CAR Conference in Las Vegas. Manheim’s vice president of digital services, Jenifer Eggert, said: “Manheim wants to thank all these independent auctions for setting a great example for the industry. Congratulations to all of the winners.”  Those winners were […] [Read More]

The results for the J.D. Power 2015 U.S. Customer Service Index Study were released today, showcasing the areas that recently experienced increases and decreases in customer satisfaction based on data from service at franchised dealers for maintenance or repair work among owners and lessees of 1-to-5-year-old vehicles. J.D. Power highlighted that customer satisfaction has increased […] [Read More]

Shopping website CarGurus highlighted two major milestones on Wednesday. First, its user traffic eclipsed 15 million unique monthly visitors this month, representing a 61-percent increase year-over-year. The company also announced that its dealer network has grown to include more than 6,000 franchise and independent dealerships nationwide. Officials insisted CarGurus now ranks No. 2 in terms […] [Read More]

The National Automobile Dealers Association offered some guidance to members in connection with the money they might receive from automakers to refurbish their showrooms and how those funds might impact their federal tax returns. NADA acknowledged many dealers renovate their facilities as the result of factory-mandated image programs. The association maintained that these programs typically […] [Read More]

AutoNation announced today the reopening of Porsche Bellevue in Bellevue, Wash. The Porsche location was part of the company’s acquisition of Barrier Motors Premium Luxury Group at the end of last year.                                                  […] [Read More]