Inflation clearly is the focus of the Federal Reserve nowadays. Chair Jerome Powell said “inflation” 20 times during his opening statement after policymakers decided unanimously on Wednesday to maintain the target range for the federal funds rate at 5.25% to 5.5%. “We understand the hardship that high inflation is causing, and we remain strongly committed to bringing inflation back down to our 2 percent goal,” Powell began during that opening statement. “Price stability is the responsibility of the Federal Reserve. Without price stability, the economy ... [Read More]

Title work is crucial for consignors, dealerships and finance companies when getting repossessed vehicles through the wholesale market, especially since they’re likely in a negative position if the contract holder defaulted just a few months into the term. James Canepari, ... [Read More]

Finance companies that book subprime paper often use sophisticated technology for underwriting and risk mitigation. The Consumer Financial Protection Bureau (CFPB) now has taken a regulatory stance on how those tools should be used, especially when consumers are not granted ... [Read More]

On Tuesday, Safe-Guard Products International announced it will expand its call center services this year with a new location in Greenville, S.C. Located just southeast of downtown and only two-and-a-half hours from the company’s Atlanta headquarters, the provider of branded ... [Read More]

Equifax, Experian and TransUnion on Monday reinforced their commitment to the financial health of U.S. consumers with the ongoing availability of free weekly credit reports through AnnualCreditReport.com. The three nationwide credit reporting agencies (NCRAs) announced the free service first introduced ... [Read More]

With the Federal Reserve on deck to announce its next decision involving interest rates on Wednesday, policymakers have softening trends percolating from the auto finance space to consider when deciding if another rate hike is merited to curb inflation. Last ... [Read More]

Santander Consumer USA is doing more than just booking its own paper nowadays. This week, SCUSA announced that it has been chosen as the primary servicer for LendingClub’s auto refinance portfolio. According to a news release, LendingClub Bank has a ... [Read More]

Kroll Bond Rating Agency (KBRA) now has more room to operate in the Windy City. This week, KBRA announced the opening of a new corporate office at 71 South Wacker Drive in the heart of the Chicago Loop to support ... [Read More]

The pause in federal student loan payments triggered by the pandemic ends in October, so some consumers will have a monthly expense of several hundred dollars again. Tom Aliff, risk consulting leader with Equifax, explained why auto finance companies need ... [Read More]

Auto finance providers reportedly loosened underwriting again in August, according to the Dealertrack Credit Availability Index. They opened to a point that experts said auto credit was easier to get in August than any time so far this year. But ... [Read More]