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Today’s vote leaves it up to the House of Representatives to pass its version of the joint resolution of disapproval. Once that happens, only the president’s signature stands in the way of the industry’s more than five-year campaign to get the CFPB’s controversial guidance repealed.
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Wells Fargo’s first-quarter earnings call was staged amid a string of regulatory concerns, declining auto originations, and the sale of a Puerto Rican subsidiary. But the company’s chief executive said the bank’s auto finance business will grow again.
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The subprime finance source’s president since April 2007 will retire on June 30, CEO Brett Roberts announced in a recent regulatory filing.
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U.S. Senate Banking Committee Republican Pat Toomey said on Tuesday the panel plans to scrap the CFPB’s guidance on dealer participation and leverage lending.
Read More →According to a report in The Wall Street Journal, the review of GAP refunds the bank initiated last year has expanded to other F&I products and services.
Read More →NextGear Capital has introduced ‘Rapid Pay,’ a new feature designed to help dealers initiate the vehicle funding process before the title is received.
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The automaker is adding a slate of pre-owned 2017 Lincoln models to its subscription program in West Los Angeles. The program was originally launched there and in San Francisco in 2015.
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The all-new UX crossover SUV will be Lexus' first vehicle to be offered through a subscription plan when it arrives in dealership showrooms this December.
Read More →The new functionality allows product documents from the 110-plus F&I product providers connected to MaximTrak’s sales and F&I solution to be included in RouteOne’s econtracting package for a single, electronic consumer signing ceremony,
Read More →The business unit began offering commercial loan products in June 2011, primarily in the East Coast. It had since expanded into the Midwest prior to today’s announcement.
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