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About a month after dismissing its former head of consumer lending, Wells Fargo named Mary Mack to the post. The 33-year Wells Fargo veteran will maintain her prior duties as senior executive vice president of community banking, which she has led since July 2016.
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The firm said hurricanes Harvey and Irma had a similar effect on used-vehicle values as the Clash for Clunkers program had on values in 2009.
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David Vickers has earned a promotion from customer success manager to regional sales manager for New York and Pennsylvania at Auto/Mate Dealership Systems.
Read More →The Fair Credit Reporting Act’s ‘business records turnover provision’ requires that business provide free of charge and without subpoena records relating to the theft within 30 days of a victim’s written request.
Read More →TrueCar has agreed to switch California auto dealers from a pay-per-sale to a flat-fee subscription model and double their indemnity to $50,000 to settle a lawsuit brought by the California New Car Dealers Association.
Read More →RouteOne moved the industry closer to the fully online transaction by executing the first remotely captured, electronic customer signature on an indirect finance contract. The executed contract was booked with Toyota Financial Services.
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Through a partnership with risk-management services provider Assurant, Fair's digital flexible ownership platform now allows consumers to add insurance coverage when they sign for a pre-owned vehicle through its mobile app.
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One industry analyst said the quarter-point hike will result in new-vehicle sales dropping below 17 million units in 2018, noting that the Fed Reserve’s previous three increases are responsible for fewer new leases and this year’s shift from new to used.
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Replacement demand from hurricanes Harvey and Irma should provide a temporary boost in new-vehicle demand to open 2018, but TransUnion officials said consumers will shift toward the used-vehicle market as finance sources continue to tighten credit underwriting standards.
Read More →Spireon has added new monitoring and workflow features to its GoldStar GPS solution for large, multi-rooftop dealers and auto finance sources.
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