WASHINGTON, D.C. — Effective July 25, a new inspector general of the board of governors of the Federal Reserve System and the Bureau of Consumer Financial Protection will take charge. Officials on Thursday appointed Mark Bialek, who will lead the ... [Read More]

BANDON, Ore. — Instead of looking at the full contract and interest costs, many consumers appear more concerned with how a monthly vehicle payment will fit into their budget. While this has been something dealers and F&I professionals have seen for ... [Read More]

CHADDS FORD, Pa. — Flagship Credit Acceptance announced today it plans to purchase existing non-prime and subprime auto loan portfolios ranging from $5 million to in excess of $250 million from dealers and finance companies throughout country.  The portfolio acquisition program will target paper with ... [Read More]

IRVINE, Calif. — Following a successful rollout in California last month, CarFinance Capital — a new, specialized provider of indirect non-prime auto financing for dealers — is now making its service-oriented program available in Texas. Led by an experienced team ... [Read More]

HAUPPAUGE, N.Y. — GrooveCar — one of Long Island's largest dealer marketing products and indirect lender of auto loans — recently invited Long Island credit union members and the general public to take advantage of its annual vehicle sale, which ... [Read More]

PLANO, Texas — Now that the company has successfully weathered the capital markets storm, Capital One Auto Finance president Kevin Borgmann explained to SubPrime Auto Finance News his division is ramping up growth via new dealer relationships and hiring associates. In ... [Read More]

SANTA FE, N.M. — State Employees Credit Union of New Mexico shared ways new and current members can win the grand prize of its new auto loan promotion contest. Now running through Aug. 31, the credit union is prepared to ... [Read More]

NEW YORK — LexisNexis officially re-launched its dedicated receivables management website, outfitting the site with new Web 2.0 capabilities in an attempt to create an interactive, online experience.  The website now features blog posts and articles relevant to the receivables ... [Read More]

MINNEAPOLIS — Nationwide Acceptance Corp. dealer customers may now process credit applications electronically through Wolters Kluwer Financial Services’ AppOne lender platform. The two companies recently announced that Nationwide has joined the AppOne lender platform, which automates the indirect lending, credit ... [Read More]

NEW YORK — According to the S&P/Experian Consumer Credit Default Indices, the auto loan default rate dropped from 1.45 percent in April to 1.34 percent in May. Moreover, first and second mortgage default rates decreased in May to 2.09 percent and ... [Read More]