DETROIT — This morning, General Motors announced it is acquiring AmeriCredit to meet consumer demand for leasing and non-prime financing. GM plans to acquire AmeriCredit in an all-cash transaction for about $3.5 billion. While GM will become the non-prime lender's parent ... [Read More]

NEW YORK — In some good news for the industry, in analyzing trends for their default indices Standard & Poor's and Experian discovered that monthly default rates declined for all five credit lines. Auto loan defaults came in at 1.7 percent in ... [Read More]

DETROIT — Following General Motors' announcement this morning that it is acquiring AmeriCredit, executives with the two companies participated in a conference call with analysts and media to shed some more light on the implications of the transaction. GM's planned purchase ... [Read More]

PHILADELPHIA — VINtek recently announced it has expanded its operations in California and opened an office in Sacramento to tackle a range of auto collateral needs in one of the country's highest volume titling states. The office is designed to enable ... [Read More]

HANOVER, Md. — Even as President Obama put his signature on the Wall Street Reform and Consumer Protection Act of 2010 Wednesday, the National Automotive Finance Association as well as two partners from well-known industry law firm Hudson Cook still remain ... [Read More]

IRVINE, Calif. — New research from the Kelley Blue Book Market Intelligence Group revealed today that more vehicle buyers are apparently turning to used units, as well as tending to pay in cash rather than financing their purchases. The study findings showed some startling ... [Read More]

LAKE SUCCESS, N.Y. — DealerTrack is taking measures so dealers who provide indirect auto financing can fully comply with the Federal Trade Commission's Risk-Based Pricing Rule. The federal mandate set to become effective at the start of next year will be ... [Read More]

SOUTHFIELD, Mich. — Credit Acceptance Corp. announced the preliminary results of its tender offer, which expired at 5 p.m. ET on Monday. The goal was the purchase up to 4 million shares of the company's outstanding common stock at a price ... [Read More]

HOUSTON — While net earnings were down for First Investors Financial Services for the three-month period ending April 30, the company's chief executive officer said the origination growth kicked back into gear in the third quarter and continues to ramp up. ... [Read More]

MINNEAPOLIS — Wolters Kluwer Financial Services announced this week that its Fair Lending Wiz software now includes an ethnicity proxy functionality. Management explained the enhancement can allow financial institutions to make a determination of whether a loan applicant is Hispanic when ... [Read More]