FNI Inc. president David Bafumo took a couple of weeks to analyze the complaint database policy the Consumer Financial Protection Bureau revealed; a move that generated immediate skeptical reaction for industry associations. Now that potentially the immediate dust has settled from the CFPB’s decision, Bafumo offered three reasons why the online publishing of consumer complaints […] [Read More]

The National Independent Automobile Dealers Association and Dealertrack Technologies recently joined forces to give dealers an opportunity to get their F&I department questions answered without paying a retainer or being charged billable hours. Dealertrack associate general counsel Randy Henrick worked with NIADA to create an online outlet for dealers to submit questions about adverse action […] [Read More]

Digital Recognition Network announced this week that the company’s vehicle location data and license plate recognition technology services completed and passed a SOC 2 (Service Organization Control) Type 1 report for security, availability and confidentiality. DRN officials highlighted that independent service auditor, Kirkpatrick Price, conducted the exam of the company’s vehicle location data and license […] [Read More]

LeasePlan USA, a fleet management provider, recently announced the launch of its new solution to help its clients save money by bundling its risk management services. The company’s 3D Coverage combines accident prevention programs, fleet auto insurance and claims management services in one plan. LeasePlan clients can leverage competitive auto insurance rates and streamline processes […] [Read More]

The special vehicle markets are heating up as summer approaches, with collectible car values increasing across the board. The most recent Black Book Market Insights report touched on the specialty markets, showing a hot spring for collectible vehicles.   Collectible car values are rising rapidly, with exotic cars seeing the highest price increases. Over the […] [Read More]

Coincidentally, the same week that unusual thunderstorms raced across much of the country, Dent Wizard promoted two new hail business development managers. Grant Allen and Scott Whitney will take on the two newly created positions designed to help the company continue to improve its hail response services across North America. Allen and Whitney previously worked […] [Read More]

The latest American Bankers Association’s Consumer Credit Delinquency Bulletin showed auto loan performance in the fourth quarter didn’t stumble much as the two categories analysts track moved only a total of 3 basis points year-over-year. ABA reported that direct auto loan delinquencies — contracts arranged directly through a commercial bank — fell from 0.72 percent […] [Read More]

One year ago, Jaguar Land Rover Canada relaunched its Land Rover Approved Certified Pre-Owned brand. In April 2014, this program joined the Jaguar Approved CPO business that Farouk Giga, national manager of certified pre-owned at Jaguar Land Rover Canada, said “has been a mainstay in the premium pre-owned marketplace.” This past March, the Land Rover […] [Read More]

KAR Auction Services will be opening an ADESA facility in the nation’s third-largest metropolitan area. On Thursday morning, KAR announced the development of ADESA Chicago, which will be located in Hoffman Estates, Ill., near I-90. The auction is expected to open in spring 2016, the company said. KAR plans to develop 65 acres for the auction […] [Read More]

To help explain how residual values are behaving, Manheim Consulting regularly shares a graph showcasing the Manheim Used Vehicle Value Index versus mix and quality adjusted New Vehicle Price Index computed by the U.S. Bureau of Labor Statistics (BLS). Manheim chief economist Tom Webb said that the visual aid should show a general upward drift for […] [Read More]