Dealers More Optimistic About Used-Car Market vs. New
Sentiment speaks to recent auto finance data showing prime and superprime car buyers shifting toward used, where the average monthly payment was $139 less than the record $504 average monthly payment for new in the second quarter.
SouthwestRe, DAC Sold to Canada's iA Financial Group
iA Financial Group, one of the largest life and health insurance companies in Canada, has signed an agreement to acquire shares of third-party administrator SouthwestRe and its insurance arm, Dealers Assurance Co. The acquisition is expected to more than double the firm’s vehicle warranty business.
GWC Warranty Names New Chief Revenue Officer
The F&I product provider named Brian Stach to the post. The former vice president for Internet Brands will oversee all of GWC Warranty's field sales operations, including a nationwide team of area vice presidents, dealer consultants, and trainers.
House Republicans Say CFPB Prematurely Suspended Wells Fargo Investigation
House Republicans charged in a new report that the CFPB missed an opportunity to uncover Wells Fargo’s recently revealed insurance and GAP refund issues when it rushed to settle with the bank last year for opening unauthorized customer accounts. It also accused the bureau of withholding a memo backing its claims.