FNI Inc. president David Bafumo focused his latest industry recommendations by plucking relevant material pertaining to add-on products out of the 54-page addition to the Supervisory and Examination Manual the Consumer Financial Protection Bureau released when it established its final “larger participant” rule earlier this month. Bafumo broke down the CFPB’s latest regulatory offerings that […] [Read More]

BillingTree once again successfully passed the PCI Security Standards Council audit, which this year came under the new PCI 3.0 standards. The company highlighted the new PCI-DSS is designed with an increased focus on operational standards, security and training to provide greater clarity, flexibility and ease of implementation for vendors. Management emphasized the latest announcement […] [Read More]

CIVC Partners, a Chicago-based private investment firm, recently announced that its portfolio company, Honor Finance, established a new funding facility with Wells Fargo Securities. Officials highlighted this new facility provides a “substantial” increase in funding capacity to support the continuing successful expansion of the specialty auto finance company that operates out of Evanston, Ill. The […] [Read More]

Auction Broadcasting Co. announced the purchase of its eighth auction facility on Friday. Broadening its presence in the Southeast that already includes auctions in Louisiana, Alabama and Kentucky, ABC Auto Auctions bought Tidewater Auto Auction in Virginia Beach, Va. In a message to Auto Remarketing, ABC president Jason Hockett indicated the name of this new […] [Read More]

Though diesel vehicles might not be the easiest sell these days, the latest results from Vincentric’s first Canadian Diesel Analysis might give dealers some talking points when trying to convince shoppers of the benefits of these units. According to the results of the analysis released today, the company found that 12 out of 34 diesel […] [Read More]

After quite a strong May for used-vehicle sales (at least among franchised dealers), how is June shaping up? That’s the question a couple industry observers are looking at as the month winds down. Edmunds.com is estimating June used-car sales (across all channels: franchised and independent dealers, plus private-party figures) will reach 2.98 million. This would […] [Read More]

Auto logistics services provider MetroGistics announced Wednesday the hiring into the company’s new position of executive vice president and business development/sales partner.             Filling the position will be David Larson, who the company says will aim to help the company grow its business on multiple fronts, focusing on strategic sales development for both new vehicles and large […] [Read More]

The Consumer Financial Protection Bureau now possesses a Supreme Court majority opinion as reinforcement to continue to leverage disparate impact as a regulatory method to oversee and potentially reprimand the auto finance industry. The Supreme Court released its opinion this week on a case involving the Fair Housing Act, but a wide array of legal […] [Read More]

In the same month its new chief financial officer came aboard, Exeter Finance Corp. appointed a new executive vice president and chief human resources officer this week. Officially taking the role on Monday is Martin Evans Exeter highlighted Evans is a seasoned human resources executive, having served since 2013 as chief human resources officer at […] [Read More]

The National Independent Automobile Dealers Association announced today the recipients of the organization’s 2015 Scholarship Awards at the 69th Annual NIADA Convention and Expo at Caesars Palace in Las Vegas. The NIADA Foundation, each year, sponsors a student in each of the association’s four regions with a $3,500 scholarship to the college or university of […] [Read More]