FICO is hosting a free webinar to sort through the details of an important accounting change that might be giving auto finance companies grief in meeting new standards that change how institutions account for expected credit losses. FICO experts plan ... [Read More]

The evidence continues to mount showing how much auto finance companies are tightening their underwriting and slowing the volume of subprime paper they're adding to their portfolios. Experian Automotive reported on Thursday that the number of consumers outside prime (with ... [Read More]

Having increased in number each of the past seven years, lawsuits alleging violations of the Telephone Consumer Protection Act of 1991 (TCPA) continue to plague the consumer finance industry. As should be expected with an already complex statutory scheme, recent ... [Read More]

The flurry of activity associated with the Consumer Financial Protection Bureau, its leadership and the regulation of auto financing intensified again this week. On Tuesday, Washington D.C. District Court Judge Timothy Kelly scheduled preliminary injunction hearing for Dec. 22 as ... [Read More]

Huntington Bank looked within its ranks to fill a position set to be open because of a retirement as the institution has promoted industry veteran Rich Porrello to president of its auto finance business. Since 2010, Porrello has served as ... [Read More]

More service providers are working together to help dealership finance departments. This week, Dealertrack and DealerCenter announced a strategic integration partnership delivering a more connected F&I workflow. Independent dealerships using DealerCenter's DMS platform can seamlessly connect customer information to Dealertrack’s ... [Read More]

Each of the five metrics involving used- and new-vehicle financing that Edmunds tracks each month moved higher in November. That collection includes averages for terms, monthly payment, the total amount financed, APR and down payment. Edmunds manager of industry analysis ... [Read More]

The streamlining of financing is happening in the subprime space, too. RouteOne announced on Monday that Exeter Finance is now an available eContracting finance source for dealers utilizing the RouteOne platform. Officials reiterated eContracting can enable the digital exchange of ... [Read More]

Back in October, New York Mayor Bill de Blasio signed a package of legislation giving the city’s Department of Consumer Affairs (DCA) additional regulatory muscle to combat what officials described as “predatory financing practices in the used-vehicle industry.” While those new ... [Read More]

This week, vehicle service contracts administrator AUL Corp. announced the hiring of Paul Leary to be the business development manager for the company’s Central Region. According to Jason Garner, senior vice president of sales and business development of AUL Corp., ... [Read More]