WASHINGTON, D.C. — Five federal supervisory agencies recently released a Memorandum of Understanding aimed at clarifying how the agencies will coordinate their supervisory activities consistent with the Dodd-Frank Wall Street Reform and Consumer Protection Act. The five agencies joining forces ... [Read More]

WASHINGTON, D.C. — With analysts maintaining that subprime auto lending is surging, the Economic Advisory Committee of the American Bankers Association recently issued a cautionary assessment about how the U.S. economy will continue to grow at a moderate pace. However, ... [Read More]

HAMDEN, Conn. — A Connecticut independent dealer believes charges of larceny, forgery and misapplication of property will be dismissed in connection with selling a vehicle for a private owner. Earlier this week, police in Hamden, Conn., arrested David Taylor, the ... [Read More]

WASHINGTON, D.C. — With many young adults fresh from high school and college graduations, officials from Americans Well-Informed on Automobile Retailing Economics (AWARE) shared several tips for these individuals who might be ready to buy their first vehicle. AWARE emphasized ... [Read More]

SAN DIEGO — Low loan default rates and high prices on repossessions are factors in one vehicle leasing company's decision to suspend lease originations. LEAP Financial on Thursday announced it is suspending originations of leases due to capital constraints. Company ... [Read More]

FORT WORTH, Texas, and PALATINE, Ill. — Imagine repossessing a vehicle and completing the recovery process for collateral in California without license plate recognition technology. Leaders of both Digital Recognition Network and MVTRAC are cheering this week that the scenario ... [Read More]

WASHINGTON, D.C. — The American Bankers Association recently released a free, members-only resource to assist bankers with their continued compliance with fair lending laws. Officials highlighted the Toolbox on Fair Lending is intended to provide practical examples, how-to's and templates ... [Read More]

COLUMBUS, Ohio — Jim Mitchell wanted to witness Ohio Gov. John Kasich sign Senate Bill 245 into law earlier this week since the legislation eight years in the making is aimed at assisting independent dealers in becoming successful. The executive ... [Read More]

ALEXANDRIA, Va. — With the expectation of more declines, the American Bankruptcy Institute determined May filings dropped by double digits year-over-year, according to data provided by Epiq Systems. Total bankruptcy filings in the United States for May decreased 11 percent ... [Read More]

NEW YORK — Fitch Ratings called U.S. auto loan ABS performance in April "stellar" as its latest index results showed several record readings. Analysts determined prime auto asset-backed securities (ABS) delinquencies and losses dropped in April to the lowest levels ... [Read More]