In the past, Consumer Financial Protection Bureau director Richard Cordray called complaints the agency’s compass. And earlier today, the CFPB finalized its policy about how those complaints are gathered and posted — and more importantly for finance company leaders — ... [Read More]

Executives representing community banks and credit unions want federal lawmakers to study the impact financial agencies are having on them considering that these smaller operations believe they are being hit with the same regulatory zeal as what’s being unleashed on much ... [Read More]

Although auto loan defaults are drifting slightly upward, analysts who generate the S&P/Experian Consumer Credit Default Indices aren’t ready to hit the panic button. Analysts from S&P Dow Jones Indices and Experian found that the February auto loan default rate ... [Read More]

ACI Worldwide, a global provider of electronic payment and banking solutions, announced this week that Westlake Financial Services selected ACI UP Bill Payment Solutions to facilitate customer vehicle installment contract payments and possibly save the finance company millions of dollars ... [Read More]

Primeritus Financial Services, a provider of repossession management, remarketing, title services and skip-tracing services, recently hired Wayne Acklen as chief financial officer, effective immediately. The company indicated Acklen will be responsible for leading Primertus’ financial, accounting, compliance and IT operations. ... [Read More]

Add LendingTree to the list of industry observers and players who don’t see a “bubble” coming in the subprime auto finance space. LendingTree analyzed the credit scores of subprime borrowers for vehicle installment contracts the company originated last year and ... [Read More]

Along with outlining the company’s upcoming training opportunities to help dealership F&I managers, Autosoft recently announced that StoneEagle has completed the certification process for integration with the FLEX DMS as part of Autosoft’s FLEX Connect program. StoneEagle offers fully supported ... [Read More]

On Feb. 18, a coalition of industry trade groups, including the American Financial Services Association and the national Chamber of Commerce, sent a letter to the Consumer Financial Protection Bureau. In the letter, the coalition asked the CFPB to publicly ... [Read More]

Think of the amount of times you’ve heard these lines from customers looking to buy a vehicle but they have soft credit histories. “But I’ve made my rent payments every month. Same with my Verizon contract. Why is my credit ... [Read More]

Finance companies and trade associations might not always agree with the mandates from the Federal Trade Commission and Consumer Financial Protection Bureau, but the two regulatory agencies announced they plan to continue to work in tandem. This week, the FTC ... [Read More]