July 2, 2013 - Industry News
The Consumer Financial Protection Bureau has ordered U.S. Bank and its nonbank partner company, Dealers’ Financial Services, to pay restitution to participants in the Military Installment Loans and Educational Services (MILES) auto loans program.
Tags: 2012 DCA
June 26, 2013 - Industry News
Tuesday, New Hampshire Governor Maggie Hassan signed into law legislation that amends the state's Dealer Bill of Rights. The bill limits OEM-prescribed facility upgrades to every 15 years, among other provisions.
Thirty-five congressional republicans warn the bureau that reforms it seeks in the auto finance industry could weaken marketplace competition and hurt a consumer’s ability to obtain the best financing terms.
June 17, 2013 - Industry News
attorney general, dealer, fraud, lawsuits, title, vehicle title,
NAF Association, CFPB, Brittany-Marie Swanson
Boasko's Rt 4 Automall LLC and Buyers Choice Cars are facing lawsuits filed by Ohio Attorney General for failing to transfer titles.
Tags: 2012 DCA, lawsuits, title transfer, vehicle title
Facing OEM-mandated facility upgrades, Hoffman Audi took the opportunity to give its service drive a makeover that is winning praise from customers.
June 13, 2013 - Industry News
ProMax Unlimited continues growth and is on track to have over 2000 dealers using their market leading solutions by the end of the year. ProMax for the past 18 years has been recognized as the industry’s top subprime software provider and attributes its growth to the expansion of the product to be a full front end desking tool with lead and website integration.
New study from Digital Air Strike shows car buyers are turning to social media and online reviews in greater numbers before making a purchase decision.
June 5, 2013 - Industry News
Two Tesla-backed bills failed to make it to the voting round this legislative session. The legislation would have exempted Tesla from state franchise laws, allowing the electric carmaker to sell directly to consumers in that state.
Eight trade associations request that the Department of Housing and Urban Development and the Consumer Financial Protection Bureau clarify and create guidance related to their use of the disparate impact theory to determine discrimination.
May 29, 2013 - Industry News
Auto loan origination activity this year is the strongest it has been for banks since 2006, with new credit generated during January and February totaling $141 billion.
Experian Automotive's AutoCheck dealer subscribers will be able to access Experian vehicle history reports on the AutoTrader.com site starting in September.
May 22, 2013 - Industry News
The captive becomes the first finance source to launch an in-vehicle app that allows vehicle owners to manage their account. The app will be available on model-year 2013 and newer Mercedes-Benz vehicles equipped with the COMAND Navigation system.
CNW Research expects May deliveries to rise 6 percent vs. the same period last year, but says there are some worrisome trends to watch.
May 15, 2013 - Industry News
In the first quarter of 2013, 30-day auto loan delinquencies rose 1.3 percent, 60-day delinquencies increased 12.4 percent and repossessions rose 16.9 percent when compared with the previous year.
Marquet International released its annual white collar fraud and embezzlement report today. The report reveals that more automotive employees are embezzling than in previous years.
May 8, 2013 - Industry News
DealerSocket is ready to release its RevenueRadar, an advanced database-mining tool that integrates with DealerSocket CRM and every major DMS.
The Consumer Financial Protection Bureau is reportedly looking into the sale of F&I add-ons, a move that comes less than two months after the bureau said it would hold indirect auto lenders responsible for lending practices it considers discriminatory.
May 1, 2013 - Industry News
Dealertrack Technologies elected Joe Payne to its board of directors. Payne is the former chairman and CEO of Eloqua, a provider of cloud-based marketing applications.
CU Direct Corporation partners with Canada’s largest credit union to develop eSpaceAuto.com, which will connect its members to 2,200 auto dealer and merchant partners throughout Quebec.
April 23, 2013 - Industry News
Auto/Mate’s recent survey found that integration with a DMS was the most important consideration when it comes to selecting a CRM. The DMS vendor also released a free e-Book.
April 16, 2013 - Industry News
Mobile advertising will reach $7.29 billion in 2013, and Google will take home more than half of it, according to eMarketer.
Ford launches a new Vehicle Orientation program. It is designed to bring consumers closer to the features available on their cars through an e-mailed checklist that contains links to ‘video snacks’ on Fordowner.com.
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