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In a dealer bulletin obtained by F&I and Showroom, Ford Motor Credit announced the availability of 84-month financing on new retail and subvented rate contracts. The bulletin urges dealers to consider the negative impacts of longer term loans.
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The Texas Plain Language Law will mandate that auto finance contracts be written at an 11th-grade reading level by 2017.
Read More →Richard Cordray and Republican members of the House Financial Services Committee are set to square off next Wednesday. It will be the first time the director of the CFPB will appear before the committee since it issued two reports criticizing the bureau’s activities in the auto finance arena.
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Prominent consumer finance attorney Thomas B. Hudson will be at Dealer Summit this May to discuss how regulators have changed the business model for special finance and buy-here, pay-here operations.
Read More →Outstanding auto loan balances totaled $987 billion in the fourth quarter 2015, up 11.5% from the year-ago period and the highest level since Experian Automotive began publicly tracking the data in 2006.
Read More →Former executives of Capital One and Ford Motor Credit Co. have joined the board of SpringboardAuto.com, a new direct-to-consumer auto loan platform launched by the former founder of CarFinance Capital.
Read More →Dawood will officially become the finance source's new CFO on Dec. 16. Santander’s interim CFO, Jennifer Davis, will serve as deputy CFO.
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The bank named Tom Wirth auto finance product and strategy director. The 25-year auto finance veteran will be tasked with helping the bank’s continued expansion in the indirect auto finance channel.
Read More →The firm’s annual Consumer Financing Satisfaction Study showed that Lincoln Financial Services led the way in the luxury segment, while Ford Credit ranked highest in the mass market segment.
Read More →The Consumer Financial Protection Bureau recently released its fall 2015 rulemaking agenda. In it, the CFPB outlined its list of current initiatives that would help it govern consumer finance markets, including the auto finance industry.
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