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October 3, 2017 - Industry News

CUDL: Credit Unions Capitalizing on Bank Retreat

Credit unions and captives continued to take advantage of the pullback by banks in the second quarter. The message coming out of CU Direct (CUDL)’s Sept. 28 webcast is that credit unions need to act fast before banks reconfigure their strategies.

Tags: auto finance, banks, captive, credit unions, CU Direct

December 8, 2016 - Industry News

Four Trade Groups Ask Lawmakers to Instate Five-Person Board to Lead CFPB

Four associations representing 12,000 banks and credit unions have asked Senate leaders to consider replacing the Consumer Financial Protection Bureau’s single-director structure with a five-person bipartisan commission next year.

Tags: banks, CFPB, Congress, credit unions, Regulations, Senate

February 9, 2016 - Industry News

Q4 2015 Outstanding Loan Balances Reach Highest Level on Record, Experian Reports

Outstanding auto loan balances totaled $987 billion in the fourth quarter 2015, up 11.5% from the year-ago period and the highest level since Experian Automotive began publicly tracking the data in 2006.

Tags: 30-day delinquency rate, 60-Day Delinquency Rate, auto finance, Auto Loans, banks, captive finance, credit unions, Experian Automotive, finance companies, Oustanding Auto Loan Balances

October 22, 2015 - Industry News

Banking Regulator Issues Warning to Auto Finance Industry

The Comptroller of the Currency warned in a speech delivered yesterday that the pace of auto lending reminds him of the mortgage industry in the run up to the 2009 financial crisis.

Tags: auto finance, Auto Loan Delinquency Rate, Auto Loan Terms, banks, economic downturn, economic recovery, Experian Automotive, Office of the Comptroller of the Currency

September 3, 2015 - Industry News

Millennials Continue to Stump Traditional Banks

A new report from Bank Director showed that today’s Baby Boomer- and Gen X-run banks are still trying to figure out the next big generation of consumers.

Tags: auto finance, Baby Boomers, banks, direct lending, Indirect Lending, Millenials

August 11, 2015 - Industry News

Auto Loan and Lease Balances Top $1 Trillion, Equifax Reports

The auto finance industry originated nine million auto loans through the first four months of year, totaling $182.9 billion. Equifax said these were the highest levels for this time of year since it began tracking auto finance data.

Tags: auto finance, Auto Loans, banks, captive finance, Equifax, F&I manager, F&I process

November 4, 2014 - Industry News

Competition Driving Increased Risk in Auto Finance, Regulator Says

A representative of the Office of the Comptroller of the Currency says competition is forcing finance sources to take bigger risks. He warns that the regulator will continue to monitor the market.

Tags: Auto Loans, banks, Consumer Financial Protection Bureau, Regulations, risk

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