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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 →Nissan Motor Co. will acquire 34% of Mitsubishi Motors Corp. for 237 billion yen ($2.17 billion) in a deal that makes Nissan the leading investor in the struggling automaker.
Read More →On Tuesday, the U.S. Treasury issued a white paper on online marketplace lending. It includes a handful of recommendations to encourage safe growth of the segment and access to credit, including a call for more regulatory oversight.
Read More →High delinquency rates for auto loans and credit cards in the first quarter pushed national average delinquency rates to levels not seen in at least three years, according to TransUnion. Much of the increase can be attributed to the continued slump in oil prices and an increase in loans made to customers with nonprime credit.
Read More →Manheim announced three promotions this week, naming Kevin Cook, Jesse Nelson and Bonnie Williams general managers as part of an effort to develop talent and execute on its business objectives.
Read More →The digital media marketing group announced it is partnering with Soledad O’Brien and Starfish Media Group to promote "The War Comes Home," a documentary about the challenges veterans face when they return home from active duty.
Read More →The F&I product provider made Columbus CEO magazine’s 2016 Top Workplaces list, which is based on results of an employee feedback survey administered by WorkplaceDynamics LLC.
Read More →The former managing partner of RedZone Sales Strategies, an automotive consulting and training firm, will serve as national director of EasyCare’s MOTOR TREND Certified Program.
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 →The dealer and state employee were charged with devising a scheme to buy high-mileage vehicles in nearby states, roll back their odometers, and then resell them in Georgia. They now face up to 10 years in prison if convicted.
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