Multiple industry associations disagree with how the Consumer Financial Protection Bureau orchestrates its complaint database. Now a top federal examiner whose primary responsibility is “to detect and deter waste, fraud and abuse,” according to its own website, is questioning how ... [Read More]

BillingTree hired a director of new business development on Tuesday to focus on extending access to the company’s payment services and solutions to broader markets and industries, including auto finance. Taking on this post is Greg Mallin, whose position was ... [Read More]

Perhaps auto finance companies will know more about interest rates this week since Stifel Nicolaus & Co. chief economist Lindsey Piegza called the upcoming meeting of the Federal Open Market Committee “arguably the most widely anticipated event in the aftermath ... [Read More]

In honor of local students going back to school, Ally Financial recently announced that it will be donating 3,000 new library books to schools in the Detroit Public School district. Officials highlighted elementary and middle school libraries throughout the district ... [Read More]

NextGear Capital’s growth is blossoming beyond North America. Executives from NextGear Capital joined representatives from their NextGear Capital UK subsidiary and the Society of the Irish Motor Industry in Dublin on Monday to commemorate the company’s launch into Ireland. Officials ... [Read More]

Western Funding announced the first two dealers to receive their second payment as part of its Triple Pay program. Officials explained Triple Pay is Western Funding’s unique program that can give dealers the opportunity to build a portfolio of accounts ... [Read More]

On Thursday, Reynolds and Reynolds launched the Reynolds LAW Tennessee F&I Library, a comprehensive catalog of standardized, legally reviewed finance and insurance documents available to automobile retailers in Tennessee. The F&I resource for dealerships in the Volunteer State extended Reynolds’ ... [Read More]

The Consumer Financial Protection Bureau took action on Wednesday against the nation’s two largest debt buyers and collectors for allegedly using deceptive tactics to collect bad debts, which may have included auto finance recoveries. The bureau found that Encore Capital ... [Read More]

The latest enforcement action against a dealership in New Jersey provided another reason why Dealertrack Technologies associate general counsel Randy Henrick recently acknowledged that when he brings up the topic of compliance, “many dealers feel a headache coming on.” Before ... [Read More]

Prestige Financial rolled out a new direct-to-consumer loan solution on Tuesday aimed at leveraging the potential market for refinancing a vehicle installment contract. The company highlighted that Prestige’s new offering allows consumers to deal directly with the financing source to ... [Read More]