Sparked by actions of the Consumer Financial Protection Bureau, Automotive Compliance Consultants general counsel David Missimer — who specializes in dealership compliance issues — advised managers to take a close look at the arbitration clause language used in their finance ... [Read More]

The “new normal” finance company executives discussed at industry events earlier this year isn’t diminishing. Loan terms are lengthening, and transaction prices are climbing — especially for new vehicles. SubPrime Auto Finance News put the question to a trio of ... [Read More]

Subprime finance company Veros Credit has started its expansion strategy, making its first inroads in markets east of the Mississippi River in states such as North Carolina and Florida. Veros Credit now has marketing representatives in Raleigh and Durham, N.C., ... [Read More]

As the company completed a property purchase to house more personnel, General Motors Financial said in a regulatory filing on Monday that the company has been subpoenaed by the U.S. Department of Justice. According to the paperwork posted with the ... [Read More]

A new kind of subprime borrower is starting to influence the statistics gathered by Equifax. Jennifer Reid, the senior director of product marketing at Equifax Automotive Services, acknowledged that dealers and finance companies typically think of subprime consumers as ones ... [Read More]

This week, Volkswagen Group of America tapped Christian Dahlheim to be the new president and chief executive officer of VW Credit. Dahlheim takes the place of Andrew Stuart, who left the captive finance company earlier this summer to be the ... [Read More]

The Republican-led U.S. House Financial Services Committee has conducted multiple hearings to investigate alleged discrimination at the Consumer Financial Protection Bureau, including a session with director Richard Cordray earlier this week. Now the lawmakers on the committee want the Government ... [Read More]

Several top industry players came to the defense of how subprime vehicle financing is operating nowadays after the unflattering picture they said The New York Times painted in an article a couple of weeks ago that’s since made its way ... [Read More]

AFS Acceptance continued to add to its management stable this week by appointing a former driversselect executive as vice president of loan production. Taking on the role effective Monday is Michael Thacker. AFS Acceptance indicated Thacker will preside over all ... [Read More]

Dealertrack Technologies reached a partnership on Wednesday with Element Payment Services, a Vantiv company, to seamlessly integrate electronic payment processing into Dealertrack DMS 2.0. With Element’s fully integrated payment technology within Dealertrack DMS 2.0, officials highlighted that all types of ... [Read More]