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SPONSORED EPISODE: Greenville Auto Auction Celebrates 16 Years—A look back and a look ahead
On this sponsored episode of the Auto Remarketing Podcast, Bill Zadeits visits with Billy Willis and Kevin Stallings of Greenville Auto Auction. The auction celebrates 16 years in early September, and the guys talk about the history of the sale, ... Listen Here
Wide-ranging car-business conversation with Lotlinx chairman and CEO Len Short
Lotlinx chairman and CEO Len Short firmly believes car dealers are the most resilient operators in any business. During this episode of the Auto Remarketing Podcast, Short explained why he is anticipating dealers showing that resilience again because it’s needed ... Listen Here
Path to delivering education in Spanish with Ignite Dealer Compliance Group
Steve Levine has dozens of dealer clients with Spanish as their native language. Those dealers also have hundreds of Hispanic customers who cannot speak or understand English. To fill compliance and training gaps created by language challenges, the owner of ... Listen Here

3 questions about legal action involving SCUSA & GAP coverage

gavel and documents
SubPrime Auto Finance News Staff
FNI’s David Bafumo dissected a class action complaint involving Santander Consumer USA filed in the U.S. District Court for the Northern District of Illinois (Eastern Division) and uncovered three important questions that might impact other auto finance companies. To recap, ... [Read More]

CreditMiner gains bureau global reseller status

credit report
SubPrime Auto Finance News Staff
CreditMiner announced that it has acquired full global reseller status with all three major credit bureaus, allowing for what the service provider called a “seamless” transition from a soft bureau transaction to a full application within its software platform. Ahead ... [Read More]

GrooveCar partners with DataOne Software to enhance buying resource

car buy button
SubPrime Auto Finance News Staff
GrooveCar, a vehicle-buying resource for the credit union industry, recently formed a strategic partnership with DataOne Software to integrate real-time vehicle information within GrooveCar’s all new Everything Automotive Auto Buying Resource. Because of the partnership, GrooveCar is looking to launch ... [Read More]

CarMax Auto Finance not wary of being under CFPB jurisdiction

regulation and compliance puzzle
Nick Zulovich, Editor
On the day CarMax Auto Finance completed the second quarter of its current fiscal year with a 6.2-percent increase in net income, the financing arm for the used-vehicle retailer came within the jurisdiction of the Consumer Financial Protection Bureau thanks ... [Read More]

6 teams of Northwood students involved in EFG Companies F&I Innovator of the Year Award competition

Award
SubPrime Auto Finance News Staff
EFG Companies this week announced student competitors and F&I mentors participating in the first F&I Innovator of the Year Award competition at Northwood University. The competition will pit six teams of Northwood’s junior and senior undergraduate automotive marketing and management ... [Read More]

August auto defaults tick up 4 basis points

pen and bar graphs
SubPrime Auto Finance News Staff
More subprime paper in the entire credit mix produced small increases in numerous default rates, but not to a point that triggered warning from S&P Dow Jones Indices and Experian. Data through August showed the auto segment of the S&P/Experian ... [Read More]

Disparate impact use continues to frustrate industry

news
SubPrime Auto Finance News Staff
The reported acknowledgement by the Consumer Financial Protection Bureau that its use of disparate impact could over-count potential discrimination by indirect auto finance companies continues to churn the industry’s frustration with how the regulator operates. Paul Metrey, chief regulatory counsel ... [Read More]

78 more executives on path to compliance certification

training
SubPrime Auto Finance News Staff
The National Automotive Finance Association enjoyed another great turnout for the opening module of its Consumer Credit Compliance Certification program. The most recent session last week in Irvine, Calif., drew 78 participants from 55 different companies. Hudson Cook partner Patty ... [Read More]

2 reasons why residuals should be used for underwriting

graph concept 2
SubPrime Auto Finance News Staff
Perhaps while finance companies consider changes to underwriting practices as the fourth quarter approaches, Black Book’s latest white paper shows how executives and managers should be using collateral and residual values in the underwriting process. Black Book highlighted that the ... [Read More]

W.Va dealer group settles another FTC lawsuit for $80K

gavel and money
SubPrime Auto Finance News Staff
A West Virginia franchised dealer group again found itself involved in a regulatory matter with the Federal Trade Commission. Ramey Motors recently agreed to pay an $80,000 civil penalty to settle a lawsuit the FTC brought last year. The FTC ... [Read More]

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