Featuring discussions about the Consumer Financial Protection Bureau and its proposed changes on indirect auto lending at franchised dealerships, North McArthur, president of Long McArthur Ford Lincoln, recently hosted Rep. Tim Huelskamp at his store. During his visit with the Kansas Republican, McArthur highlighted the dealership’s economic impact on the town of Salina, such as […] [Read More]

Two members of the U.S. House Financial Services Committee who are outspoken critics of the Consumer Financial Protection Bureau found another point to rail against the regulatory agency. This time, these lawmakers shared their frustration about a report from the Federal Reserve’s Inspector General that showed the cost of renovating the CFPB’s rented headquarters has […] [Read More]

Though car dealership employees, on average, earn more than the average weekly earnings of U.S. private sector employees, retention remains a large problem for dealerships across the country. According to NADA’s 2013 Dealership Workforce Study Industry Report, franchised dealership employees, on average, earn 27 percent more than the average weekly earnings of all U.S. private […] [Read More]

Findings from the 2014 Collection Agency Operations and Technology Survey BillingTree emphasized two points about how agencies of all sizes are looking to enhance their operation. The survey showed agencies are contemplating higher adoption rates of technology to meet the demand for consumer choice while achieving their business goals of reducing overall operational costs and […] [Read More]

While the subprime sector produced positive results, Fitch Ratings reported losses for U.S. prime auto loan ABS ticked up in May, but overall asset performance remains “solid.” Fitch indicated that 60-day delinquencies in the prime space crept 7 percent higher in May to 0.30 percent on a monthly basis. But analysts said those delinquencies are […] [Read More]

After recalling 187,000 units the week before, General Motors Canada announced late last week yet another safety issue involving air bag inflators – bringing the recall count closer to 50 this year for the GM automaker. The most recent recall covers 57,706 vehicles in Canada, involving a variety of models. First up, dealers will replace […] [Read More]

Canadian dealer satisfaction with finance providers remains elevated, though rates have fallen from record levels seen last year. That’s according to the results from the 2014 J.D Power 2014 Canadian Dealer Financing Satisfaction study — which takes a look at dealer satisfaction with finance providers in four segments: prime retail credit; retail leasing; floor planning; […] [Read More]

Scotiabank revealed today a replacement for Ron Porter, who recently retired from the company. Kevin Teslyk has been named as the company’s new senior vice president of automotive finance. Teslyk will be responsible for heading up the strategic direction of the bank’s automotive finance operations, including both the prime indirect retail lending and commercial automotive […] [Read More]

Xcira announced the development of a patented handheld condition reporting system that is designed to increase the efficiency and accuracy of the vehicle inspection and condition reporting process.  The latest in a series of technological solutions developed by Xcira is called the ICE (Intelligent Condition Evaluator). “Xcira continues to define the auction industry with support […] [Read More]

The clash between Chrysler Group and the National Highway Traffic Safety Administration over the recall involving 1993-2004 Jeep Grand Cherokees and 2002-2007 Jeep Liberty vehicles took another turn on Wednesday. NHTSA officials issued a special order because they want to know why it’s taking what they consider to be a long time to repair 1.56 […] [Read More]