June 29, 2017
Failing to recognize the difference between a loan and a retail installment contract led to a costly violation of the Georgia Motor Vehicle Act.
December 19, 2016
The CFPB’s inability to master the basic vocabulary of automotive finance does a disservice to the consumers whose interests it is charged with protecting.
December 5, 2016
Auto financing extended to subprime and deep-subprime car buyers fell 4.5% from a year ago, as the auto finance industry continued to squash fears of a forming subprime bubble. Newly originated loans made to prime car buyers jumped 2% to encompass nearly 60% of auto loans originated during the period.
November 9, 2016
Total auto loan balances in the third quarter grew 9% from a year ago to $1.1 trillion, with subprime balances leading the way, TransUnion reported on Monday.
September 29, 2016
Slowing demand for new vehicles points to auto finance sources having to contend with increased compeittion for consumer loans. That was the conclusion of Equifax's Nation Consumer Credit Trends report for August, which showed that auto originations for the first six months of year grew 3.5% compared to a year ago.
September 6, 2016
Credit unions funded a record 529,000 auto loans through CU Direct’s Lending 360 and CUDL platforms in the first half of 2016. That amounts to more than $16.1 billion in funded automotive loans.
August 18, 2016
CU Direct's credit union network was the No. 3 auto loan originator in the first quarter. However, the network posted the highest year-over-year growth in auto originations.
July 26, 2016
Wells Fargo reported second quarter auto originations of $8.3 billion, a 7% gain from the first quarter of the year and a 2% gain from the year prior. Bank officials, however, reported higher delinquencies and net charge-offs.
July 19, 2016
Champlain National Bank has entered the indirect auto finance channel behind a cloud-based loan origination system developed by Teledata Communications Inc. The bank is currently integrated with Dealertrack and RouteOne, and has signed 'a substantial number of dealers' in the New York region.
June 1, 2016
A new study from TransUnion shows that prime or better mortgage applicants are up to three times as likely to open a new auto loan within 12 months of a mortgage inquiry.
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