After falling close to 1 percent in July, the ADESA Canada Used Vehicle Price Index was on the way down once again last month. After being adjusted for seasonality, the index fell by 0.7 percent from July rates. The index, powered by ALG, showed that all vehicle segments saw prices drop last month, except for […] [Read More]

Equifax announced that defi SOLUTIONS through its cloud-based loan origination system is now offering its automotive finance company clients access to income and employment verifications through The Work Number,  a proprietary database of employment and income information owned by Workforce Solutions, a business unit of Equifax. By leveraging The Work Number database of more than […] [Read More]

LightStream, a national online consumer lending division of SunTrust Bank became the exclusive online financing for Kelley Blue Book on Monday. Officials highlighted the LightStream AnythingLoan can provide KBB.com site visitors with simple online financing that can be used for cars, trucks and motorcycles, anywhere in the United States. “With LightStream, Kelley Blue Book now […] [Read More]

In light of the Consumer Financial Protection Bureau handing out stern enforcement actions connected with credit bureau reporting, the ranking member of the U.S. House Financial Services Committee now is joining the regulatory fray. As the chairman-elect of the American Bankers Association attempted to assure the subcommittee about how the industry is committed to consistent, […] [Read More]

A George Mason University researcher and Yale School of Law graduate found three significant issues with the Consumer Financial Protection Bureau wanting to publish consumer complaint narratives online — including the CFPB lacking the authority to make such a move. Hester Peirce sent a nine-page letter to the CFPB articulating the position, stressing the bureau’s […] [Read More]

Capital Automotive Reconditioning Services announced the appointment of a new chief operating officer. Kay Hudson, formerly the senior vice president of operations, took the role of COO effective Sept. 1 after more than five years with the company, which she joined in 2008 as the human resources director. Ron Hope, CARS Recon’s president and chief executive […] [Read More]

In one of two announcements coming from DealerSocket on Friday, RevenueRadar — which is powered by DealerSocket — now is officially certified and a featured partner for General Motors' new Equity-Mining Initiative. Officials highlighted that GM announced to its entire field organization and all 4,300 franchised dealers about the opportunity to use powerful equity-mining tools like DealerSocket's […] [Read More]

The record-setting number of recalls this year keeps getting larger as Toyota and Ford rolled out campaigns impacting a combined total of approximately 200,000 units, the larger of the actions being Toyota's. Starting with Toyota, the automaker said it will conduct a recall of approximately 130,000 Tundra Crew-Max Cab and Double Cab pickups from the […] [Read More]

Volkswagen has a new leader for its certified pre-owned program to replace Scott Weitzman, its former general manager of used-vehicle operations who is now chief operating officer at digital marketing firm DealerX. Named the national CPO senior manager at VW is Michael Ashton, who was previously the regional used-car manager for the Northeast for the […] [Read More]

The U.S. Department of the Treasury’s ownership in Ally Financial continues to shrink. Treasury officials on Friday announced the completion of the first pre-defined written trading plan for Ally common stock. Treasury said it sold 8,890,000 shares and recovered approximately $218.7 million for taxpayers. With the conclusion of the first trading plan, Treasury said it […] [Read More]