ATLANTA — Rick Potter, president of CAR Financial Services, a full-service financial institution dedicated to the buy-here, pay-here industry, announced several management changes this week. Taking on the position of chief operating officer and chief financial officer is Mark Lewis. Lewis ... [Read More]

ALEXANDRIA, Va., and ROSELAND, N.J. — U.S. consumer bankruptcy filings jumped 30 percent nationwide during the first six months of 2008 from the same period a year ago, according to the American Bankruptcy Institute, which relies on data from the National ... [Read More]

CARY, N.C., and PHOENIX — The tough capital markets and economy have led many lenders to tighten underwriting requirements and pull back from the lower credit tiers. This has left many dealers throughout the country struggling to find indirect auto lenders ... [Read More]

NEW YORK — GMAC Financial Services announced earlier this week that it has selected a marketing team led by BBH New York as its new global marketing agency of record. This move is designed to better streamline the institution's marketing efforts ... [Read More]

IRVINE, Calif. — Consumer Portfolio Services, which specializes in purchasing and servicing new- and used-retail auto contracts, announced this morning that it has closed a new $10 million senior secured financing with an affiliate of Levine Leichtman Capital Partners. The company indicated ... [Read More]

MINNEAPOLIS — Wolters Kluwer Financial Services recently announced that it has partnered with the California New Car Dealers Association to develop and market Wolters Kluwer Financial Services' automotive retail installment sale contracts. The company noted that it markets its retail contracts ... [Read More]

FARMINGTON HILLS, Mich. — Chrysler Financial recently announced its automated contract origination process has reached several industry breakthroughs. AutOrigination First Early this year Chrysler Financial completed a series of enhancements to its AutOrigination product to enable additional dealer service providers to ... [Read More]

POWAY, Calif. — First Advantage CREDCO recently announced the introduction of ACT Portfolio Management solutions to help dealers better manage their portfolio, as well as improve their collection and recovery process by monitoring customer financial and credit behaviors. Basically, the solutions ... [Read More]

CARMEL, Ind. — Automotive Finance Consumer Division, a part of KAR Holdings, announced this week that it will begin offering its dealers a bankruptcy direct mail marketing program through Allegiant Marketing Group. AMG is based out of Oklahoma City, Okla., and ... [Read More]

PORTLAND, Ore. — Compli recently announced that it is adding more than 100 new electronic compliance content items on its Compli Dealership Compliance Management System, effective June 30. These items will facilitate a more robust "Good Faith" compliance effort that addresses ... [Read More]