American Financial Services Association general counsel Philip Bohi still responded this week to more than 35 questions and provided comments about the Consumer Financial Protection Bureau’s Personal Financial Data Rights (PFDR) reconsideration effort. The association’s responses came after the bureau’s director said in an interview that concerted efforts are in motion to shut down the […] [Read More]

Resolvion created a new division this week to leverage the experience and expertise of executive vice president Claudia Plascencia, who has been with the company for nearly 12 years. The provider of asset recovery management solutions has launched a credit union and mid-market division, created to deliver specialized recovery services, stronger transparency, and a higher […] [Read More]

October is spooky season and what may give some consumers a jump-scare is the average price tag they’ll see on a used vehicle. Fortunately for them, the car-buying version of comic relief is sweet trade-in equity. A little more than a week out from Halloween, used-vehicle prices are averaging $29,446 this month, a $473 rise […] [Read More]

It’s sort of like expanding your property by buying the house next door. Ourisman Automotive Group has acquired Hendrick Honda Woodbridge, which is adjacent to its existing Toyota and Chrysler Jeep Dodge Ram stores in Woodbridge, Va. Ourisman’s purchase of the Northern Virginia dealership from Hendrick Automotive Group was facilitated by The Presidio Group, which […] [Read More]

Wholesale vehicle prices in Canada continued to decline last week, though at a slightly less steep rate than the week before, with most segments showing less than a $100 change. Sales rates, however, showed much more volatility. That’s according to the latest Market Insights report from Canadian Black Book, which said that overall values were […] [Read More]

Kinetic Advantage is finding ways to achieve its goals amid a business scene that’s becoming more challenging as evident by bankruptcies being filed by consumers as well as automotive operations. About a week after the independent automotive floorplan financing company announced that it had received a strategic investment from Carlyle, Kinetic Advantage on Tuesday highlighted […] [Read More]

If there’s a theme to what AutoIMS has observed in commercial consignor sales at auction this year, it’s “deliberate steadiness.” Conversion rates have stay north of 66% and above year-ago levels, sales volumes have largely remained ahead of 2024 numbers and the metrics gauging vehicle quality are stable. That’s according to the company’s Q3 Industry View, […] [Read More]

Perhaps there’s a certain amount of chaos at your dealership or finance company, especially if vehicles aren’t turning or contract holders aren’t paying. But at least based on Black Book’s newest observations, the wholesale market is relatively “orderly,” as overall prices softened a bit more than seasonal trends, but conversion rates stayed steady. Black Book […] [Read More]

Boardwalk Auto Group has sold its four ultra-luxury dealerships in Texas to US Auto Trust, according to a news release from NBB, which was the exclusive transaction advisor to Boardwalk. Included in the transaction were Boardwalk Ferrari, Boardwalk Lamborghini, Boardwalk Maserati, and Boardwalk Pagani. This is the third major sale from Boardwalk that NBB has […] [Read More]

Weltman, Weinberg & Reis hired two more attorneys this month, as the full-service creditors’ rights law firm bolstered its offices in Detroit and Pittsburgh. Joining the firm in the Motor City is Tyra Page, who was born and raised in Detroit. And coming aboard the firm’s Steel City location is Byron Blevins. “I am excited […] [Read More]