Fifth Third Bank acknowledged in its most recent filing with the Securities and Exchange Commission that it’s being investigated by the Department of Justice about its indirect auto loan business. According to the company’s Form 10-Q, officials said they are ... [Read More]

Along with giving executives another opportunity to complete the first module of its compliance certification program, the National Automotive Finance Association is rolling out one of its best lineups ever for its annual conference later this month. The NAF Association ... [Read More]

Following public comment periods, the Federal Trade Commission approved final consent orders this week involving 10 dealers’ deceptive advertising charges. Under the settlement orders, FTC officials said the dealerships are prohibited from misrepresenting in any advertisement for the purchase, financing ... [Read More]

Demands by the Securities and Exchange Commission are placing a hurdle in Nicholas Financial — an indirect special finance company that originates subprime loans with more than 1,600 dealers — becoming an indirect wholly owned subsidiary of Prospect Capital Corp. ... [Read More]

Rep. Lynn Westmoreland introduced a bill on the U.S. House floor this week aimed at regulating how the Consumer Financial Protection Bureau handles consumer data. The Georgia Republican explained the CFPB Data Collection Security Act is meant to address what ... [Read More]

Remember 2005? That’s when the BlackBerry was the smartphone of choice, and the Federal Reserve pushed the short-term interest rate to 3 percent, marking the eighth increase in less than a year. That year also was the last time this ... [Read More]

Based on the thinking that the right approach to financing a vehicle can help subprime buyers get their credit back on the right track, Edmunds.com offered four recommendations that dealers can share with consumers to help with the process. Those ... [Read More]

With at least one industry association cheering the move, the Consumer Financial Protection Bureau on Tuesday proposed a rule to promote more effective privacy disclosures from financial institutions to their customers. The rule would allow companies that limit their consumer ... [Read More]

Not every single General Motors franchised dealership uses Ally Financial to cover floor plan needs. While company executives say they're working to improve penetration levels, Ally leadership says it’s focused on another metric that shows the solid performance the company ... [Read More]

National Auto Acceptance Corp. recently announced a subprime/deep subprime point-of-sale program offered to independent and franchised dealerships throughout Ohio. The company explained its program can help dealers capture customers with poor credit, past bankruptcies or repossessions, as well as and ... [Read More]