This week, Consumer Portfolio Services announced the closing of its second term securitization of the year. The company highlighted the transaction is CPS’ first senior subordinate securitization to receive a triple A rating on the senior class of notes. In ... [Read More]

Equifax shared some details of a recent conversation the credit bureau had with the National Independent Automobile Dealers Association leading up to NIADA’s annual convention in Las Vegas. They touched on a wide array of issues, including access to financing ... [Read More]

Toyota Financial Services and Lexus Financial Services expanded of their longstanding military rebate program this week. Officials highlighted they now offer a $500 rebate on all new Toyota and Scion vehicles, and a $750 rebate on all new and certified ... [Read More]

As two more individuals testified this week alleging discrimination at the Consumer Financial Protection Bureau, Rep. Patrick McHenry and CFPB director Richard Cordray clashed over how a current bureau employee received settlements to satisfy claims. Corday acknowledged the CFPB resolved ... [Read More]

In what’s being described as “a very helpful development,” Consumer Financial Protection Bureau director Richard Cordray confirmed on Wednesday that the agency plans to release a white paper about how regulators are using the proxy method of finding disparate impact ... [Read More]

Electronic cash transaction network PayNearMe, and non-prime automotive lending company Southern Auto Finance have partnered to offer SAFCo’s borrowers a convenient new way to repay their loans using cash at more than 17,000 participating 7-Eleven, Family Dollar and ACE Cash ... [Read More]

AFS Acceptance recently appointed a former executive from Consumer Portfolio Services to be the company’s new vice president of loan servicing. Tapped for the position was Eric Van Eaton, who will lead all aspects of loan servicing for AFS Acceptance, ... [Read More]

MarkOne Holdings, a national automotive finance holding company operating through three regional subsidiaries, reached an agreement this week with the National Independent Automobile Dealers Association to be an endorsed National Corporate Partner. MarkOne Holdings is the parent company to three ... [Read More]

While auto financing has recovered to the point where originations and portfolio sizes are at record levels, the 2014 Makovsky Wall Street Reputation Study showed many financial services companies continue to struggle with reputational and customer services issues stemming from ... [Read More]

After setting new historic lows in March and April, the auto loan rate associated with the S&P/Experian Consumer Credit Default Indices increased marginally in May. S&P Dow Jones Indices and Experian determined the auto loan default rate ticked up just ... [Read More]