October 3, 2017 - Industry News
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 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
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
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
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
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
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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