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August 7, 2017 - Industry News

CareGard to Open Offices to Industry Summit Attendees

Agents attending this year’s Industry Summit in Grapevine, Texas, can schedule a time to visit CareGard’s nearby headquarters.

Tags: CareGard, F&I products, general agents, Industry Summit

August 3, 2017 - Industry News

Drive Motors Raises $5.2 Million in Seed Funding

The digital retailing solution provider will use its new funding to expand its dealership network and develop more features to streamline the car-ownership experience, officials said.

Tags: digital retailing, Drive Motors, Ecommerce, online F&I

August 3, 2017 - Industry News

Black Book Covers Trade Appraisal Best Practices in New White Paper

The firm's white paper sheds light on the disconnect between consumers and many dealers when it comes to trade appraisals. It also explores what’s at stake when a consumer introduces a trade-in as a part of the transaction.

Tags: Black Book, price quotes, trade-in value, used-vehicle values

August 2, 2017 - Industry News

KBB: New-Car Transaction Prices Rise Nearly 2% in July

Thanks to declining car sales and the popularity of SUVs, July's average transaction price increased by $573 from a year ago to $34,721.

August 1, 2017 - Industry News

Authenticom's 'Stunning Victory' in Antitrust Suit on Hold

Five days after announcing a ‘stunning victory’ in its antitrust suit against CDK and Reynolds, Authenticom today learned it will have to wait seven days to see if the Seventh Circuit will hear the DMS providers’ appeal of the preliminary injunction confirmed on Friday by the federal court judge hearing its suit.

Tags: Authenticom, CDK Global, Cyber Security, DMS, integration, Reynolds & Reynolds, software, Steve Cottrell

August 1, 2017 - Industry News

SouthwestRe Updates TruckGuard Class 3-8 Program

SouthwestRe has updated its TruckGuard program and launched the TruckGuard Dealer-Certified Limited Warranty program.

August 1, 2017 - Industry News

Black Book: Used-Vehicle Retention Index Remained Unchanged in July

The index has remained unchanged or moved positive in three of the last four months, according to officials. Posting noticeable gains in their respective segment indexes were full-size cars, full-size pickups, luxury cars, and near-luxury cars.

Tags: Black Book, depreciation, Used Vehicle Retention Index, used-vehicle values

August 1, 2017 - Industry News

RoadVantage Completes Third SSAE 16 Audit

The F&I products provider successfully completed its third annual SSAE 16 (SOC 1) Type II industry-standards audit.

August 1, 2017 - Industry News

LenderLive Expands Compliance Solutions for Finance Sources

The compliance solutions provider will provide these expanded services through LenderLive Compliance Solution, a new line of business that will offer both bundled and a la carte services to vehicle finance companies, credit unions, community banks, and regional banks.

August 1, 2017 - Industry News

700Credit Rolls Out Instant Income and Employment Verification Solution

Powered by The Work Number from Equifax Workforce Solutions, the firm’s new Income PreCheck product is designed to improve the consumer experience by making the transaction process seamless with fewer roadblocks to financing.

Tags: 700Credit, digital retailing, Employment Verification, Income Verification, online F&I, software

July 31, 2017 - Industry News

Judge in Authenticom Antitrust Suit Confirms Preliminary Injunction

A federal court judge declared last Friday that Reynolds and CDK can’t prevent Authenticom from providing services to dealers who, as of May 1, have authorized its data integration services. The ruling was issued as the judge entered the final form of his preliminary injunction in Authenticom’s antitrust suit against the two DMS providers.

Tags: antitrust, Authenticom, CDK Global, data protection, Reynolds & Reynolds

July 31, 2017 - Industry News

Study: Car Buyers Choose Online Research Over Dealership Visits

A new study from Netsertive finds two-thirds of car buyers visit only one or two dealerships but fewer than half know which brand they want when they start searching online.

July 27, 2017 - Industry News

CFPB: Small-Dollar Lending, Debt-Collection Rules Are Coming

The day Republicans introduced joint resolutions in both houses aimed at blocking the Consumer Financial Protection Bureau’s new arbitration rule, a bureau staffer noted in a blog post that the regulator isn't done writing, issuing and finalizing rules.

Tags: Arbitration, auto finance, CFPB, compliance, Debt Collection, Payday Lending

July 27, 2017 - Industry News

Kia Earns KBB Accolades

The South Korean OEM placed two models in Kelley Blue Book’s rankings of the 10 Most Awarded Cars of 2017 and earned a spot on KBB’s 10 Most Awarded Brands list.

July 26, 2017 - Industry News

U.S. House Passes Resolution to Block CFPB's Arbitration Rule

The U.S. House passed a joint resolution of disapproval under the Congressional Rule Act to block the CFPB’s rule banning mandatory arbitration clauses in finance contracts. The resolution now needs Senate approval and the president’s signature to repeal the rule, which industry insiders say could impact the sale of F&I products.

Tags: Arbitration, auto finance, CFPB, compliance, House Financial Services Committee, Jeb Hensarling

July 26, 2017 - Industry News

J.D. Power: Consumers Find New Vehicles More Appealing Than Ever

The latest edition of J.D. Power’s APEAL Index shows a nine-point increase from last year’s report.

July 26, 2017 - Industry News

Former Ally and Exeter CIO Joins White Clarke Group

Nick Ockwell has joined the loan origination and servicing software provider as its executive vice president of operations for the Americas. The announcement comes less than a year after Five Arrows Principal Investments made a significant equity investment in the firm with the intent to scale the business.

July 26, 2017 - Industry News

MeridianLink Adds RouteOne’s Econtracting Solution to Loan Origination System

The connection removes the complexity of adding econtracting for finance sources utilizing MeridianLink’s LoansPQ loan origination system, according to officials.

Tags: econtracting, MeridianLink, RouteOne, software, technology

July 26, 2017 - Industry News

KAR Brings ‘Power of the Platform’ to TradeRev Experience

KAR Auction Services and TradeRev have partnered to launch a series of integrated transportation, financing and physical auction offerings for auto dealers.

July 25, 2017 - Industry News

Wendy Reeves to Helm Two Sessions at Special Finance Conference

BDC expert Wendy Reeves will present ‘The ABCs of Success in the BDC’ and ‘Defining the Role & Duties of the Business Development Manager’ at this year’s Special Finance Conference.

Tags: BDC, DealerStrong, Industry Summit, Special Finance Conference, Wendy Reeves

July 25, 2017 - Industry News

IAS Seeks Entries for ‘Ask Frenchy’ Contest at Industry Summit

IAS and Industry Summit have teamed up to present ‘Ask Frenchy,’ a contest that will send five lucky dealers and F&I professionals on a free trip to Industry Summit.

Tags: Ask Frenchy, Eric Mélon, F&I manager, F&I training, IAS, Industry Summit

July 25, 2017 - Industry News

Republicans Challenge CFPB’s Arbitration Rule

The day after the Consumer Financial Protection Bureau published its new arbitration rule in the Federal Register, House and Senate Republicans filed joint resolutions to block the rule from taking effect in September..

Tags: Arbitration, auto finance, CFPB, CFPB study, compliance, Jeb Hensarling

July 25, 2017 - Industry News

GWC Sponsors Local Food 4 Kids Program

GWC Warranty partnered with the Commission on Economic Opportunity to help provide meals for at-risk children.

July 25, 2017 - Industry News

Hudson Cook Team Updates ‘CARLAW F&I Desk Book’

Authored by attorneys Thomas B. Hudson, Michael Benoit, Ralph Rohner and the attorneys of Hudson Cook LLP, 'CARLAW F&I Legal Desk Book (7th edition) – The Answer Book for Finance and Insurance Professionals,' presents a law-by-law, regulation-by-regulation guide through the legal maze that dealers face every day.

Tags: auto finance, CARLAW, compliance, Hudson Cook LLP, Michael Benoit, Regulations, rules, Tom Hudson

July 25, 2017 - Industry News

Dashboard Dealership Enterprises Releases Executive Eye 3.0

The latest version of the firm’s business analytics suite features a new user interface, and advanced budgeting and forecasting tools. The new reporting suite also works on mobile devices, including tablets.

Tags: business analytics, Dashboard Dealership Enterprises, dashboard tool, performance reporting