In late April, the Consumer Financial Protection Bureau, along with three other federal regulatory agencies, released a joint statement outlining a commitment to enforce their respective laws and regulations with a connection to artificial intelligence. On Tuesday, the CFPB built on the pledge previously mentioned with the Civil Rights Division of the Department of Justice, […] [Read More]

Experian received a potential six-figure fine from the Federal Trade Commission on Monday. According to a news release, the FTC will require Experian Consumer Services, which offers consumers access to their Experian credit information, to pay $650,000 to settle charges it sent consumers unsolicited email without offering them a way to opt out of such […] [Read More]

On Thursday morning, Weltman, Weinberg & Reis will launch the opening session of a free, year-round educational webinar series to help finance companies and other lenders stay ahead of trends, changes and updates throughout the world of collections. With the moniker, “what’s on tap,” the opening session will feature attorneys from Weltman’s Philadelphia office. Shareholder […] [Read More]

The Alliance of Illinois Repossessors (AIR) cheered the signing of SB 0800 into law by Gov. J.B. Pritzer, a development the organization said solidified the nation’s first law related to consumer data protection and repossessed vehicles. The July 28 signing culminated an effort that began in January 2022 when AIR officials said they listened to […] [Read More]

Despite headwinds, used-car sales are “gaining momentum” in what appears to be a bit of a summer “surprise,” according to a Cox Automotive analysis. Based on vehicle registration data, the company estimates there were 3.02 million total used vehicles sold in July, up from 2.96 million in June. While that’s down from July 2022, sales […] [Read More]

Black Book senior vice president and chief data science officer Alex Yurchenko told Auto Remarketing on Tuesday afternoon that last week’s wholesale value decline was the largest for a single week in at least 10 years. Black Book shared through its newest installment of Market Insights that wholesale prices decreased 1.45% during the week that […] [Read More]

DealerCue Automotive Corp., maker of inventory acquisition and management platform VINCUE, has completed a Series B investment round led by global automotive services firm Holman and backed by venture capital firms Autotech Ventures and Automotive Ventures. The deal represents the first major institutional investments for VINCUE, which the company said enables it to scale operations, […] [Read More]

Zeigler Auto Group’s collection of dealerships in the Midwest continues to grow. The group upped its total to 41 by acquiring Subaru stores in Lafayette, Ind., and Fort Wayne, Ind. from Rohrman Automotive Group. The dealerships, formerly known as Bob Rohrman Subaru and Bob Rohrman Subaru of Fort Wayne, have been renamed Zeigler Subaru of […] [Read More]

TradePending, a sales enablement and consumer experience software platform for car dealerships, has acquired Snapcell, a software-as-a-service automotive video marketing platform designed to help car dealerships build trust and improve customer engagement through personalized video solutions. Financial terms of the transaction were not disclosed. TradePending is backed by Capstreet, a Houston-based lower middle market private […] [Read More]

Multiple sources of auto-finance data and more intriguing economic trends surfaced in recent days, with experts touching on defaults, interest rates and the possibility of a recession. Let’s begin this roundup with the auto portion of the S&P/Experian Consumer Credit Default Indices. Experts determined the July auto default rate came in at 0.82%, ticking up […] [Read More]