In its recent Supervisory Highlights report, the CFPB accused ‘one or more’ auto finance sources of being deceptive in their advertisements of GAP and in the way they disclose payment deferral terms.
The Turks and Caicos Islands Financial Services Commission met last week with 20 leading reinsurance experts to elicit their views on proposed improvements to the islands’ regulatory regime and to explore how TCI may remain the domicile of choice of producer affiliated reinsurance companies.
American Credit Acceptance and Westlake Financial Services have agreed to pay $7.4 million to Massachusetts consumers to settle the state regulator's charges that they charged excessive interest rates on subprime loans.
A U.S. district judge has allowed an African-American woman to pursue claims of discrimination against Texas-based Santander Consumer USA, but the finance source was successful in getting other claims contained in the borrower’s class action suit dismissed.
Cox Automotive announced today it has acquired a minority interest in F&I product provider SilverRock Holdings LLC. Officials said the products will be sold through dealers affiliated with Go Financial and NextGear Capital.
EasyCare launched on Oct. 1 a full suite of F&I protections designed for the recreational vehicle market. Products include road hazard tire-and-wheel protection, GAP, limited warranty and vehicle service contracts.
As of last month, CNA National now has more than three million contracts in force across its product lines, including vehicle service contracts, GAP, tire-and-wheel protection and warranties.
A woman who says she was duped into purchasing “void and worthless” GAP coverage has filed a class action suit against the finance source on behalf of Illinois customers who have signed similar contracts.
It has been 20 years since CNA National was purchased by CNA, one of the nation’s oldest and largest insurance companies.
Palo Verde Holdings Ltd., the noncontrolled foreign corporation of CNA National Warranty Corp., has grown its investment portfolio to nearly $150 million since it was founded in 1999.
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