Gregory Arroyo
Editorial Director
ADT Magazine
MENU
SEARCHMENUSEARCHEditorial Director
The Office of the Comptroller of the Currency has once against expressed concern about rising credit risks in the auto finance arena, noting that underwriting standards for both direct and indirect auto loans have begun to decline due to increased competition.
Read More →Average wholesale values fell again on a month-over-month basis in June, but they remain up on a year-over-year basis thanks to the continued price strength of trucks, according to ADESA Analytical Services.
Read More →Beepi, an online used-vehicle retailer founded in 2013 by a serial entrepreneur who had a bad car-buying experience, is now offering nationwide vehicle delivery. The cost of the service, according to the company, is determined by the distance between the seller and buyer.
Read More →The subprime finance source’s president says the company’s decision to exit the indirect channel was neither performance-based nor a reflection of current conditions in the subprime auto finance sector. Move connected to Cox's purchase of Dealertrack.
Read More →At its May 5 field hearing in Albuquerque, N.M., the CFPB issued its proposal to ban mandatory arbitration clauses in finance contracts. Financial services providers will still be able to include arbitration clauses in finance contracts; they just can’t use the agreements to stop consumers from being part of a class action in court.
Read More →General Motors responded on Friday to legal concerns raised in a Feb. 8 letter from the California New Car Dealers Association. The automaker said it is not infringing on its dealers' used-vehicle operations, adding that projected sales from its Factory Pre-Owned Collection program will represent 'roughly 1% or less of current used retail volume our dealer network sells.'
Read More →The three-year standoff between Toyota Motor Credit, the Justice Department and the CFPB is over, with the captive agreeing to pay up to $21.9 million in restitution to minority borrowers the regulators allege were overcharged on their auto loans. The captive also agreed to lower its dealer markup caps.
Read More →
The legislation was passed by a 332-96 vote yesterday, with the bill receiving approval from 88 House Democrats.
Read More →The Comptroller of the Currency warned in a speech delivered yesterday that the pace of auto lending reminds him of the mortgage industry in the run up to the 2009 financial crisis.
Read More →The bureau is seeking to ban pre-dispute arbitration clauses that block class action lawsuits. The proposals under consideration would allow companies to use arbitration for individual disputes, but would require those companies to submit to the CFPB the arbitration claims filed and awards issued.
Read More →