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This Month's Focus

Turbocharged Finance
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Latest two moves by US Bank have dealers & OEMs in mind
U.S. Bank made a pair of moves last week geared to boost its position in automotive with dealerships and OEMs. First, U.S. Bank said it is launching redesigned BMW, MINI and BMW Motorrad Mastercard credit card products that offer cardholders ... Read More
TransUnion and Bankrate collaborate to broaden credit offers  
TransUnion and Bankrate want to make it easier for millions of Americans to find personalized credit offers that meet their needs. On Wednesday, the companies announced they’re working even closer together to deliver smarter matching by combining Bankrate’s lender marketplace ... Read More
COMMENTARY: The LLM compliance paradox & separating conversational AI from quantitative underwriting
It’s hard to open a newspaper or read a tech article today without seeing at least some mention of large language models (LLMs) and their usage in just about any industry. The auto lending sector is no exception, with LLMs ... Read More
Ben Sporn of VIP Automotive Group Takes DIY Approach to AI
Ben Sporn is the chief marketing officer of VIP Automotive Group on Long Island, N.Y. , where he runs operations and artificial intelligence projects at his family’s 10-store dealer group. He also has a tech background, having worked for Google ... Listen Here
SPONSORED PODCAST: Securing the Vehicle Handoff with Secure Vehicle Transfer
In this episode of the Auto Remarketing Podcast, Bill Zadeits speaks with Lainey Sibble and Eric Schwartz from Central Dispatch about the newest technology impacting vehicle transport: Secure Vehicle Transfer. Learn more about this impactful technology and how it’s helping ... Listen Here
SPONSORED EPISODE: High-quality used inventory via the service drive with AutoHub’s Dan Gaughan
Some of the best used-car inventory a dealer could want is sitting right in their own service lane every day. In this special sponsored episode of the Auto Remarketing Podcast, AutoHub general manager Dan Gaughan took dealers through a proven ... Listen Here

Atlanticus exits auto finance by completing sale of CAR

SubPrime Auto Finance News Staff
Truist Bank selling Regional Acceptance wasn’t the only notable merger-and-acquisition development within auto finance to unfold last week. Atlanticus Holdings Corp. announced that it has completed the sale of its CAR Auto Finance operations to an unaffiliated third party. Following ... [Read More]

Technology usage among Chopra’s top priorities as leader of new California regulator

SubPrime Auto Finance News Staff
As installment of the Consumer Financial Protection Bureau’s next director advances on Capitol Hill, the CFPB’s most recent leader is getting further organized for his newest regulatory position in California. Earlier this year, Gov. Gavin Newsom picked Rohit Chopra to ... [Read More]

Resource Hub

Best Practices, Ideas, and Tools for Business

AI & Auto Finance: An Expert Guide to Using This Technology

This 26-page ebook from Cherokee Media Group, sponsored by dotData, brings together insights from nine experts on how artificial intelligence...
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Turning Dealer Group Data into Demand

Stop letting messy data hold your dealership back from its true earning potential. While many multi-roof dealer groups struggle to...
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Evaluating VPP Cancellation Systems: 7 Questions Every Lender Should Ask

Selecting the right VPP cancellation system is critical to maintaining compliance, maximizing recoveries, and improving operational efficiency. As regulatory requirements...
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Auto lenders spent on AI. Here’s what paid off.

A panel of auto-lending leaders — CEOs of subprime auto finance companies, VPs of Collections, CROs, indirect-lending executives at two...
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Experian Automotive Dealer Fraud Threat Report

Fraud is Hitting Dealerships Hard When one bad deal can erase tens of thousands in profit, fraud becomes impossible to...
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AI-Financing Spotlight: How Tracy Honda Sells 12-15 More Deals Monthly

Discover how Tracy Honda is outperforming its market by leveraging AI-powered auto financing to drive faster approvals and close more...
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The AI Dealer Playbook: 5 Questions to Ask Before You Buy AI

Artificial intelligence is rapidly reshaping dealership operations by automating communication, improving workflows, and supporting staff with tools like copilots and...
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Speaking the Same Language: How Dealers Structure Capital for Real Estate and Growth

Why Capital Structures Matters in Today’s Market Dealers actively expanding or acquiring real estate are often constrained not by opportunity—but...
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Multiple industry associations cheer CFPB director nomination advancement by Senate committee

CFPB seeking more data about repossessions & contract modifications
SubPrime Auto Finance News Staff
Multiple industry associations applauded last week when the U.S. Senate Banking Committee voted to advance President Trump’s nomination of Brian Johnson to serve as director of the Consumer Financial Protection Bureau (CFPB), moving the process to full Senate confirmation. Lawmakers ... [Read More]

Former Snap-On, Reynolds and Reynolds exec becomes NCC’s chief revenue officer

SubPrime Auto Finance News Staff
NCC reinforced its executive team again this week. The provider of credit reporting, software, and compliance solutions announced the appointment of Terry Cummins as chief revenue officer, strengthening the company’s revenue leadership as it accelerates growth across its software portfolio ... [Read More]

Credit Acceptance & 40 state AGs finalizes $700M resolution to investigations dating back to 2020

SubPrime Auto Finance News Staff
Multiple states and attorneys general that began to investigate Credit Acceptance during the height of the pandemic reached a $700 million resolution on Thursday. The subprime auto finance company announced that it has entered, or will enter, into consent judgments ... [Read More]

COMMENTARY: Portfolio performance starts long before default

Details of upcoming repossession webinars from ARA & Weltman
Nick Cherry, Ardent Credit Services and Phillips & Cohen Associates
For years, auto finance companies have measured portfolio performance using familiar metrics: delinquencies, charge-offs, recoveries and losses. Those measures remain essential, but I believe they’re telling an incomplete story. Working with lenders across North America has shown me the same ... [Read More]

Average diesel costs above $6 per gallon pushing repo agents to brink

SubPrime Auto Finance News Staff
Cox Automotive chief economist Jeremy Robb on Monday explained how $6 a gallon diesel costs are beginning to impact consumers, matriculating into the car business. As AAA reported on Wednesday that the average cost of diesel fuel in the U.S. ... [Read More]

Truist to sell Regional Acceptance, further exiting auto-financing business

SubPrime Auto Finance News Staff
Truist Bank is selling Regional Acceptance, its near-prime auto finance operation. Truist confirmed the move involving a $5.5 billion portfolio in a filing with the Securities and Exchange Commission on Tuesday, with the institution expecting the transaction to close late ... [Read More]

ADP & Cox Automotive examine murky picture for employment & car business as Fed considers rate adjustment

SubPrime Auto Finance News Staff
The Federal Open Market Committee began its regularly scheduled meeting on Tuesday as Federal Reserve policymakers will finish their gatherings on Wednesday by announcing their decision involving the federal funds rate, which hasn’t been adjusted since December. Among the array ... [Read More]

AKUVO promotes 2 execs, lands SECU as new collections technology client

SubPrime Auto Finance News Staff
Along with recently landing what’s considered to be the second largest credit union in the United States as a client, AKUVO on Friday announced the promotions of Melissa Bachman to chief product officer and Mike Ruggiero to chief strategy and ... [Read More]

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