Now even another government agency thinks implementation of the enhanced Safeguards Rule from the Federal Trade Commission should be delayed. Recently, the Small Business Administration (SBA) Office of Advocacy delivered a letter to the FTC, echoing many of the points previously made via a separate letter sent by the American Financial Services Association, ACA International, […] [Read More]

In a move that could impact auto financing, VantageScore recently announced further steps in supporting consumers affected by medical collection debt. VantageScore said through a news release that the company completed an extensive analysis of how consumer credit score models are impacted by recent changes to how medical collection accounts are reported, including changes brought about […] [Read More]

LendBuzz co-founder and chief executive officer Amitay Kalmar described the characteristics of artificial intelligence, machine learning and algorithms that intrigue him most during this episode of the Auto Remarketing Podcast. Then Kalmar explained what those elements now can do for the benefit of underwriting and more within auto finance. To listen to the conversation, click on […] [Read More]

Acquiring America’s Auto Auction — and merging that business’ 23 auction sites with XLerate Group — just makes good business sense, according to Cam Hitchcock, chief executive officer of America’s Group. The newly consolidated company, which has rebadged its 16 XLerate auction sites with the America’s Auto Auction name, has a broader footprint and an experienced […] [Read More]

Mergers and acquisitions now have involved one of the notable operations associated with collectable cars. On Thursday, IMG, an Endeavor company and a global leader in events, media, sports and fashion, announced that it has acquired a majority stake in Barrett-Jackson, one of the premier collector car auction and live events companies. The companies said […] [Read More]

DriveItAway Holdings made another advancement on Friday related to its mission “to make driving and owning an EV truly affordable for all.” The provider of subscription-to-purchase technology announced that it recently launched its electric vehicle program with the Ford Escape Plug-In Hybrid, working with a new dealer partner, the Chapman Auto Group.  Focused on enabling […] [Read More]

Flagship Credit Acceptance wants to grow its portfolio through its entry into direct-to-consumer financing, so this week, the company hired Rob McKie as chief direct lending officer to lead that endeavor. Flagship highlighted through a news release that McKie brings more than three decades of diverse operations and sales experience to the new role, including […] [Read More]

RunBuggy gained more financial horsepower this week, as the technology platform that connects car shippers and transporters announced it secured a line of credit with Silicon Valley Bank, providing the company with access to funds that will fuel the growth and retention of its open transportation marketplace. In January, RunBuggy secured a Series A investment […] [Read More]

Byrider used technology recently to upgrade the capabilities of its service department. The network of more than 150 buy-here, pay-here dealership locations also leveraged technology to enhance its collections. While a partnership with Shopmonkey was for the service department, Byrider aligned with Lightico as its digitalization partner for front-end and back-end finance activities. According to […] [Read More]

EBlock has pivoted its growth strategy. Instead of a U.S.-wide expansion plan with a year-end 2023 target date, the digital wholesale marketplace will concentrate on its existing markets of Canada, the U.S. West, Midwest and Gulf States, parent company E Inc. chief executive Jason McClenahan said in an earnings release Tuesday. This strategy shift comes […] [Read More]