December 1, 2017 - Industry News
Sen. Chris Dodd and former Rep. Barney Frank say the CFPB-creating law bearing their names does not fall under the purview of the Federal Vacancies Reform Act. They joined other Democrats and activists last week in announcing plans to challenge a federal judge's ruling that denied a CFPB official's attempt to block President Trump’s interim director appointee.
Tags: auto finance, CFPB, compliance, Dodd-Frank Act, Donald Trump
November 30, 2017 - Industry News
Volvo Cars used this week’s AutoMobility LA and the Los Angeles Auto Show to debut its 2019 XC40 and a new subscription service for its new compact SUV.
Tags: AutoMobility LA, Care by Volvo, mobility, Subscription Service, Volvo, XC40
The latest Blue Sky report from Kerrigan Advisors finds the dealership buy/sell market remains highly active as concerns about disruptive technology drive dealers to sell.
November 29, 2017 - Industry News
A federal judge refused to block the appointment of Mick Mulvaney as interim director of the Consumer Financial Protection Bureau, but the Trump administration’s victory may only be temporary.
Land Rover notched category wins for the Discovery, Discovery Sport, Range Rover Sport and Range Rover and ‘Best Premium Brand’ honors in the 2018 ALG Residual Value Awards.
Paul Leary, a 25-year veteran of the warranty business, will be responsible for working with agents and dealers in the company’s Central region.
Tags: AUL Corp., F&I products, vehicle service contracts
Jeff Robinson, vice president of risk and operations for Alpha Warranty, was named to Utah Business’ list of top ’20 in their 20s’ executives.
Jumpstart Automotive Media’s most recent Path to Purchase Report shows growing interest in large pickups at the expense of subcompact SUVs and CUVs in October.
November 28, 2017 - Industry News
The bank’s announcement comes seven months after it rolled out a new strategy designed to increase earnings predictability. The company’s chief executive said the bank’s decision was based on a less favorable financial outlook for the indirect auto origination business.
Tags: auto finance, auto originations, Gateway One Lending & Finance, TCF Financial Corporation
United Development Systems Inc. has launched a learning management system, starting with the delivery of an ethics and compliance certification course.
Mazda, Honda, Ford and Porsche have been recognized as U.S. News & World Report’s best-rated brands for overall excellence.
Vast’s AI platform, CarStory, announced new patents for its Predictive Conversions Systems and Methods and Market Relative Position Engine solutions.
November 27, 2017 - Industry News
Staffers with the CFPB returned from the Thanksgiving break on Monday to two acting directors, a lawsuit, dueling emails, and a bag of doughnuts.
Tags: CFPB, compliance, Donald Trump, Leandra English, Mick Mulvaney, Richard Cordray
ADG has named Dan Hahn as director of training for fixed operations and David Kelly as director of training for variable operations.
November 21, 2017 - Industry News
For the fourth consecutive quarter, auto loan originations in the second quarter decreased on a year-over-year basis. Much of that decline was driven a 5.9% decrease in subprime, nearprime, and prime loan originations.
Tags: auto finance, delinquencies, Hurricane Harvey, Hurricane Irma, Subprime Financing, TransUnion
Thanks to the lingering effects of hurricanes Harvey and Irma, J.D. Power’s seasonally adjusted used-vehicle price index recorded its third straight monthly increase. It rose 1.1 points to 114.5.
November 20, 2017 - Industry News
Thirty-year industry veteran John Tabar has joined United Development Systems as director of training.
According to media reports, Franklin Codel, the bank’s head of consumer lending, was fired after making disparaging comments about a bank regulator to a fired employee, who reported the executive’s comments to bank officials.
Tags: auto finance, employee, Wells Fargo Dealer Services
New data from Dealer.com reveals a post-summer surge in dealer website traffic and shows Black Friday purchase intent far outpaced Cyber Monday in 2016.
Darwin Automotive has launched Darwin Online, described by the company as the auto industry’s first fully functional 24-hour F&I department.
Auto retail expert Max Zanan’s highly anticipated ‘Perfect Dealership: Surviving the Digital Disruption’ is now available for purchase.
November 16, 2017 - Industry News
The social network announced the launch of two new ad features intended to help dealers and other automotive companies target users and capture their contact information.
The latest payout is related to the $4.1 million settlement the bank reached in September 2016 to resolve the DOJ’s allegations that the bank violated the Servicemembers Civil Relief Act. According to the DOJ, the bank identified an additional 450 servicemembers impacted by its unlawful repossessions between January 2008 and July 2015.
Tags: auto finance, compliance, Servicemembers Civil Relief Act, Wells Fargo Dealer Services
The Manheim Marketplace is poised to deliver what the provider claims to be the industry’s first omnichannel experience, combining all channels to create a single, integrated destination for buyers and sellers.
Fifteen-year industry veteran Josh Dougherty has joined DealersLink as the dealer technology provider’s vice president of sales.
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