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Auto Loan Interest Rates Hit 10-Year High

Edmunds says the average APR for a U.S. new-vehicle loan was 6.36% in March, putting dealers and consumers on the cusp of a ‘dramatic shift’ toward the used-car market.

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DealerBuilt Settles With New Jersey Regulators Over Data Breach

Software provider DealerBuilt agreed to implement security protocols to settle an investigation into a data breach that exposed the personal information of customers and employees at more than 100 dealerships nationwide.

Black Book HAV Data Now Integrated Into defi SOLUTIONS’ LOS Platform

Defi SOLUTIONS is the first loan origination platform to include Black Book’s History Adjusted Valuations data feed. Users can now identify undesirable deals prior to the origination process, improve advance amounts, prevent fraud, and use HAV to set floors more accurately when remarketing.

Regional Acceptance Joins Dealertrack Accelerated Title

The subprime finance source has selected Dealertrack's Accelerated Title solution to handle its title and release process for dealers accepting cars in on trade.

CDK Global Adds AutoFi, New Integrations to Fortellis Commerce Exchange

CDK Global announced on Tuesday that AutoFi has agreed to consume digital retailing APIs from the Fortellis Automotive Consumer Exchange Platform. Equifax, one of the platform’s inaugural publishers, also said on Tuesday it will publish new APIs for the platform.

Total Outstanding Auto Portfolio Balances Top $1.25 Trillion

Total outstanding auto portfolio balances reached $1.27 trillion through May, the first time balances have surpassed $1.25 trillion.

AG Coalition: CFPB Has 'No Authority to Overrule' High Court’s ECOA Interpretation

A coalition of 14 attorneys general warned CFPB Acting Director Mick Mulvaney against taking any action to reinterpret ECOA as not providing for disparate impact liability — signaling that the fight over dealer participation might not be over.

Edmunds: Zero Percent Finance Deals Evaporate in August

Two years ago, zero percent finance deals accounted for 14.6% of transactions. Last month, they only accounted for 7.4%. Edmunds analysts point to higher interest rates as one of the reasons for the scarcity in zero percent finance deals in August.

Experian: Finance Amounts, Monthly Payments Reach New Highs in Q2

Affordability remains a concern despite finance sources continuing to tighten underwriting standards, according to the firm. Consumers, however, seem unfazed, with outstanding balances climbing to a new record high.

Senate Committee Narrowly Confirms Trump's Pick to Head BCFP

The U.S. Senate Banking Committee narrowly approved the nomination of Kathy Kraninger to head the Bureau of Consumer Financial Protection. The vote sends her nomination to the full Senate for consideration.