Finance Office

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Photo: ©ISTOCKPHOTO.COM/KZENON Launching Special Finance: Part Three
With a fully operational SF department, the DealerStrong team shifts their focus to finding, selling and financing customers.
Launching Special Finance: Part Two
The DealerStrong team digs in at Champion Motors and finds a few surprises, including a freshly installed CRM.
Prequalify Your Customers Online
An online, soft-pull prequalification process could help dealers sell more cars faster and satisfy new demands from consumers and regulators.
Launching Special Finance: Part One
Welcome to Part One of a six-part series of articles about the launch of a startup special finance operation at an already successful independent dealership on the fringe of a major U.S. metro market.
Solving the CFPB Problem
The man who has led the NADA’s regulatory advocacy efforts since 2006 believes the tide may be turning in the CFPB’s attack on dealer participation.
NADA Chairman Bill Fox’s ascendance to dealership and association leadership was largely happenstance, he says. The Great Defender
New York dealer Bill Fox brings experience, passion, humility and unwavering support for the franchised dealer model to his role as 2015 NADA chairman.
Raj Sundaram  There Is No Bubble
The magazine caught up with Dealertrack’s Raj Sundaram to discuss sales forecasts, the specter of the subprime auto finance bubble, digital retailing and the Dealers’ Choice Awards.
ADM Publisher David Gesualdo Fair-Weather Foes
The so-called consumer advocates who are bullying dealers were nowhere to be found when times were tough.
Lax policies and unauthorized charges, discounts and freebies could be nipping away at your bottom line.  Are Your Employees Pickpocketing Your Profits?
Lax policies and unauthorized charges, discounts and freebies could be nipping away at your bottom line.
Dr. G.P. returns with a powerful new medication that increases effort and performance with very few side effects. A Prescription For Attitude
Dr. G.P. returns with a powerful new medication that increases effort and performance with very few side effects.

Finance Office News

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House Committee Report Takes Aim at CFPB’s Proxy Methodology
The Charles River Associates study commissioned by the American Financial Services Association was cited in the committee’s critical report on the CFPB’s methodology for alleging discrimination in auto finance.
Ohio Dealers Settle FTC’s Deceptive Advertising Charges
The FTC announced today that it has reached an agreement with two Ohio dealers to settle charges that their lease advertisements violated the FTC Act and the Consumer Leasing Act’s Regulation M.
CalTex Names Senior Director of Business Development
Kerri Walker Lewis was named to the post after serving as a senior executive for Dent Zone. She brings an extensive background in business development, relationship management, and sales and marketing.
CFPB Releases Fall 2015 Rulemaking Agenda
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.
ChannelNet Expands Into New York City, Austin, Texas
The firm helping finance sources like Toyota Financial Services and Ally connect with car buyers online has expanded into two major markets. Officials say the expansion will aid the firm’s efforts to further penetrate the financial services industry.
Ontario Teachers’ Pension Plan to Acquire Majority Stake of APCO
The transaction is expected to close this December. Officials said APCO’s management team will remain in place once it does.
Bill Aimed at Repealing CFPB Auto Finance Guidance Passes House
The legislation was passed by a 332-96 vote yesterday, with the bill receiving approval from 88 House Democrats.
Auto Loan Balances Top $1 Trillion in Q3, TransUnion Reports
Despite auto loan balances rising by $101 billion, delinquencies remained flat from a year ago. Officials with the credit reporting agency said their seeing controlled and deliberate growth by lenders.
House to Vote on CFPB-Altering Bill This Week
Aside from rescinding the CFPB’s guidance on dealer participation, the legislation would add a few steps to the bureau’s guidance-writing activities.
EFG Named to Dallas Morning News' 'Top 100 Places to Work' List
EFG Companies was named to the Dallas Morning News' list of Top 100 Places to Work, marking the firm's ninth national award the group has earned this year for excellence and customer service.