Truist Financial Corp. recently unveiled a corporate venture capital division created by integrating investments in technology companies from the heritage SunTrust brand with BB&T Ventures. The bank highlighted this firm — Truist Ventures — is focusing on strategic partnerships and investments to bring novel solutions to Truist clients and deliver on the company’s purpose to inspire […] [Read More]

Carvana is aiming to retail 2 million used vehicles. And with more committed resources from Ally Financial arriving on Tuesday, the online retailer is confident of reaching that goal. Carvana announced a $1.0 billion increase to its current loan sale program with Ally Financial, demonstrating what the company called the “success” of the previous increase […] [Read More]

With the demands on call centers even more intense nowadays, TCN rolled out a platform update this week to help contact centers and collection agencies worldwide, especially as representatives might be working at home. TCN highlighted its platform update with Room 303 can allow for “easy and seamless” agent-to-agent and agent-to-manager communication. The company said […] [Read More]

Last week, Lobel Financial Corp. finalized a settlement with the Consumer Financial Protection Bureau totaling more than $1.4 million. According to a news release, the bureau found that Lobel engaged in unfair practices with respect to the finance company’s loss damage waiver (LDW) product in violation of the Consumer Financial Protection Act (CFPA). When a […] [Read More]

Less than half of car dealers were providing home-delivery of vehicle purchases when the COVID-19 pandemic began in March, according to CARS Dealer Community data from the group that includes Cars.com, DealerRater and Dealer Inspire.   However, 66% of dealers were offering such services by August, the data shows. About a fifth of recent buyers have used […] [Read More]

Wholesale values are continuing their typical autumn descent, according to the COVID-19 Market Insights released by Black Book on Tuesday. However, analysts and auction observers noticed that consignors aren’t budging much when it comes to the floors for the limited volume of vehicles going through the wholesale market nowadays. With that scenario as the backdrop, […] [Read More]

TrueCar this past May launched TrueCar Military, a dedicated vehicle purchase program providing exclusive military incentives and exclusive benefits to those who have served in the U.S. armed forces and their families. Among the current TrueCar Military benefits is up to $4,000 in military Incentives on select makes and models. On Tuesday, TrueCar said it […] [Read More]

Kenny Cheung, who was recently promoted to executive vice president of finance, chief operational finance and restructuring officer for Hertz Global Holdings, has been named the company's chief financial officer. Cheung, who previously served as senior vice president of global financial planning and analysis and chief financial officer of North America at Hertz, joined the […] [Read More]

Global digital marketplace IAA says PayPal is now a new payment option for vehicle purchases, registration, fees and vehicle transportation booked online. As a result of the company’s customer experience, or CX discipline, IAA says it has researched and developed expanded payment options. Those options, according to IAA, offer more purchasing power and accessibility from what […] [Read More]

Sonic Automotive is beefing up its EchoPark Automotive retail hub location in Charlotte, N.C. The retailer bought roughly four acres of land adjacent to that EchoPark retail hub, which will allow for about 400 additional vehicles to be parked there. With this addition, there would be room for approximately 1,000 vehicles at the Charlotte EchoPark […] [Read More]