Gregory Arroyo
Editorial Director
ADT Magazine
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Senate Republicans have reintroduced legislation aimed at replacing the CFPB’s single-director structure with a five-member bipartisan board. The bill was unveiled as Congressional Democrats and state regulators pledged to defend Director Richard Cordray and his agency.
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The deal was executed through a wholly owned subsidiary developed by RouteOne. It will operate as MaximTrak Technologies under the leadership of RouteOne CEO Justin Oesterle and MaximTrak President Jim Maxim Jr.
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Regulatory insiders say there are two ways the Trump administration can deliver on its promise to dismantle the Dodd-Frank. But neither scenario has a high probability of success, they say.
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The NADA’s chief economist said the industry will sell 17.1 million new units in 2017. That forecast could rise by the end of February — that's if the the new administration delivers on its stated policy objectives.
Read More →Ally CEO Jeffrey Brown acknowledged the finance source missed analysts’ expectations in the third quarter, but said the finance sources feels even more ‘bullish about the upside potential that exists’ ahead. He was referring to the company’s acquisition of an online auto lender exchange that will help it build a direct-to-consumer option.
Read More →Particularly hard hit in September were mid-size cars, while the luxury car segment experienced a nice bounce in its average wholesale price, according to ADESA Chief Economist Tom Kontos. Mini-vans also experienced solid price growth during the month.
Read More →The Federal Trade Commission (FTC)'s six-year effort to collect on a $4.2 million judgement against a telemarketer of “extended auto warranties” came to a end last week. The telemarketer, which did business under the name My Car Solutions, led victims to believe it was affiliated with auto dealers and manufacturers.
Read More →Despite a competitive subprime auto finance environment, GM Financial continued gravitating toward a more prime-like credit profile during the second quarter.
Read More →The same week the CFPB celebrated its five-year anniversary, trade groups representing various motor vehicle industries urged U.S. Senators to support legislation that would rescind the regulator’s March 2013 guidance on dealer participation, among other things.
Read More →Regulators in Maryland, Massachusetts and New York charge that the emissions scandal and alleged cover-up was orchestrated and approved 'at the highest levels of the company, up to and including former CEO Martin Winterkorn.'
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