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September 18, 2018 - Industry News

DealerBuilt Settles With New Jersey Regulators Over Data Breach

Photo courtesy of Kromtech Alliance Corp.

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

Tags: auto finance, compliance, cybersecurity, data security, DealerBuilt, LightYear DMS, New Jersey Attorney General, state regulator

September 18, 2018 - Industry News

Kahu Adds Enhancements for Dealer Groups

Spireon announced the addition of several new, dealer group-friendly features to its signature connected-vehicle solutions.

September 18, 2018 - Industry News

DealerSocket Announces Significant Investment in Customer Service, Support

The company continues to hire support staff to meet the needs of dealers and has invested millions in technology improvements, officials announced this week.

Tags: CRM, DealerFire, DealerSocket, desking, Equity Mining, Precise Price

September 17, 2018 - Industry News

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.

Tags: advances, auto finance, Black Book, defi SOLUTIONS, F&I manager, Loan Origination System, LOS, Originations

September 17, 2018 - Industry News

Lineup Set for First-Ever Technology Challenge

Organizers of the upcoming Industry Summit have announced the 10 companies that will compete in the inaugural Technology Challenge on Tuesday, Oct. 9.

September 17, 2018 - Industry News

Podium Named to Forbes Cloud 100

Podium has been named to this year’s Forbes list of the top 100 private cloud companies in the world.

September 17, 2018 - Industry News

Eckert to Retire as President of SouthwestRe

Eddie Eckert will retire as president of SouthwestRe at the end of September, concluding a 14-year tenure with the company and marking more than 40 years of service to the automotive industry.

Tags: F&I product provider, reinsurance, SouthwestRe

September 17, 2018 - Industry News

Affinitiv: Caldwell & Kerr Acquisition Creates ‘Full-Service’ Platform

Affinitiv has acquired Caldwell & Kerr Enterprises, forming a strategic partnership designed to enhance digital capabilities for a combined customer base.

September 17, 2018 - Industry News

Auto/Mate Integrates DMS With Kimoby

A new partnership between Auto/Mate and Kimoby was designed to help dealers improve customer communications and CSI scores.

September 17, 2018 - Industry News

Lotpop to Host Dealer Workshop

Dealer Workshop by Lotpop invites inventory managers to celebrate while sharpening their car-buying, car-pricing, and car-merchandising skills.

September 13, 2018 - Industry News

Brown & Brown Acquires F&I Resources

With the acquisition, terms of which were not disclosed, the F&I Resources team will become part of Brown & Brown’s auto, RV, and powersports practice, which operates under the leadership of Mike Neal, president of the company’s Brown & Brown of Kentucky subsidiary.

Tags: agents, Brown & Brown, F&I products, F&I Resources, third-party administration, warranty

September 13, 2018 - Industry News

RelayCars Adds New Features to VR App

RelayCars has added a host of new features and functionality to its virtual reality app.

September 13, 2018 - Industry News

J.D. Power: In-Vehicle Tech Shows Improved Adoption, Reliability

In-car multimedia technology still vexes vehicle owners, but some automakers are showing strong improvement, according to a new study from J.D. Power.

September 12, 2018 - Industry News

GAP Experts to Discuss Mounting Losses at PALS 2018

Actuaries Lee Bowron and Ben Woods will present ‘Rising GAP Losses: 2018 Update’ at the upcoming P&A Leadership Summit.

September 12, 2018 - Industry News

Are We There Yet? Pryor to Go Digital at Industry Summit, PALS

Safe-Guard Products’ David Pryor will present ‘Digital Retail: Are We There Yet?’ to a combined crowd of Industry Summit and P&A Leadership Summit attendees in Orlando next month.

September 12, 2018 - Industry News

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.

Tags: Accelerated Title, auto finance, Dealertrack, Regional Acceptance Corp., trade-in vehicles

September 12, 2018 - Industry News

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.

Tags: auto finance, AutoFi, CDK Global, digita, digital retailing, Equifax, Fintech, Fortellis, online F&I

September 12, 2018 - Industry News

Carolina Dealers Face Florence Losses

Cox Automotive’s Jonathan Smoke weighed the automotive impact of the impending landfall of Hurricane Florence compared with losses suffered in Texas and Florida last year.

September 11, 2018 - Industry News

FCA Adds $1,000 Bonus Certificate to DrivePlus Mastercard

Fiat Chrysler and First Bankcard announced that customers who sign up for the DrivePlus Mastercard will get $1,000 toward the purchase or lease of a new FCA vehicle.

September 11, 2018 - Industry News

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.

Tags: auto finance, Equifax, Outsanding Auto Loan Balances

September 10, 2018 - Industry News

DealerSocket Announces New CFO

DealerSocket announced the appointment of Gary Ito, who has worked at several global software and technology organizations over his 30-year finance and accounting career, as CFO.

Tags: DealerFire, DealerSocket, digital retailing, online F&I, Price Promise, software

September 10, 2018 - Industry News

Dealer Poll: Tariffs Are Bad for Business

A recent Cox Automotive poll finds a majority of franchised U.S. auto dealers believe new tariffs on imported vehicles would negatively affect their businesses and lead to higher prices for all new vehicles.

September 7, 2018 - Industry News

Ganther to Tackle MLA, CFPB, Employee Privacy at Compliance Summit

Attorney, dealer compliance expert, and Compliance Summit regular Jim Ganther will take on such pressing topics as the Military Lending Act revision, compliance in the post-CFPB era, and employee privacy in a workshop session at the upcoming event.

September 6, 2018 - Industry News

Cox Releases Results of Fixed Ops Study

A survey of 3,550 customers and 404 dealership employees offers insights into how the service department experience drives dealership profitability and growth.

September 6, 2018 - Industry News

Pa. Dealer Agrees to Pay $2.1 Million to End Prosecution Into Bank Fraud

According to the U.S. Attorney’s Office, Hallman Chevrolet falsified loan documents as well as costume jewelry brought in by customers as collateral for purported down payments over a six-year period beginning in 2009. The dealer, David Hallman, accepted responsibility for the scheme and agreed to pay a $1.4 million fine and more than $737,000 in restitution to end federal prosecution.

Tags: bank fraud, compliance, down payment, Hallman Chevrolet, U.S. Attorney's Office

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