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Executives with the former AmeriCredit Corp. described GM Financial’s transition to General Motors’ captive finance source as ‘substantially complete’ during its recent first-quarter earnings call.
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Bill Katafias, a longtime retail credit executive for Wells Fargo Dealer Services, has joined CRB Auto as its new CEO. He succeeds Scott Raymer, who previously announced his resignation from his CEO post to pursue other opportunities.
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Thirteen finance sources representing a third of U.S. auto finance originations met last week to take a bite out of the estimated $6 billion in annual fraud losses.
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Security National Automotive Acceptance Co. agreed to pay $1.25 million to settle the bureau's charges that it failed to pay $2.275 million in consumer redress for illegal debt-collection tactics under the regulator's October 2015 order. But the company did so without admitting to the CFPB's finding, company officials said.
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A new report from Morgan Stanley identifies several key factors that could cut used-car values in half by 2022.
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A day after House Republicans called for the dismissal of CFPB Director Richard Cordray, the American Financial Services Association called on Congress to reform the bureau’s practices and amend its structure.
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Clearlane allows consumers to finance a vehicle purchase from a dealership or a private party sale, refinance their existing loan, or buy their vehicle at lease end. The site also sells GAP and service contracts.
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AutoGravity’s mobile car shopping and financing platform has grown to included 1,000 rooftops representing more than 1,400 dealerships.
Read More →The special finance company, which counts the cofounder and former COO of Exeter Finance in its executive ranks, will use the funding to launch a new and pre-owned auto leasing program this year.
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The more than 1,000 credit unions on CU Direct’s lending platforms maintained their No. 2 spot on Experian’s auto finance leaderboard in January. And with plateauing demand for new vehicles expected to drive up pre-owned sales, the market appears ripe for credit unions to reap further market share gains.
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