December 16, 2014 - Industry News
Consumers are back in the borrowing business, with November consumer credit data from Equifax showing that nonmortgage credit balances rose to their highest level in five years.
Tags: auto finance, Auto Loans, Car Shopping, Consumer Credit Balances, Equifax, New-Car Sales
December 10, 2014 - Industry News
The dealer group has added two more stores to the MOTOR TREND certified program. They’re located on Grove City, Pa.
Tags: Bob & Chuck Eddy, EasyCare, Motor Trend
November 20, 2014 - Industry News
F&I and Showroom delves into a new study commissioned by the American Financial Services Association. It concludes that the CFPB’s use of the BISG proxy method is “conceptually flawed” and could lead to overstatement of alleged harm to consumers.
Tags: Ally Financial, American Financial Services Association, auto finance, Bayesian Improved Surname Geocoding, BISG, CFPB, CFPB study, F&I manager, F&I office
November 19, 2014 - Industry News
A new study released by the American Financial Services Association finds bias and high error rates in the CFPB's proxy methodology for determining disparate impact.
Tags: American Financial Services Association, CFPB, CFPB study
November 4, 2014 - Industry News
Automotive Credit Corp. is now on Wolters Kluwer Financial Services’ AppOne platform, allowing it to automate credit approval and compliance processes.
Tags: AppOne loan platform, Automotive Credit Corporation, Wolters Kluwer Financial Services
October 28, 2014 - Industry News
The president and CEO of United Development Systems will open the new compliance event with a keynote address. He will offer his take on how dealers can stay out of the crosshairs of what many believe to be government overreach.
Tags: Compliance Summit, David Gesualdo, Randy Crisorio, United Development Systems
October 23, 2014 - Industry News
Officials said the Charlotte test store was overwhelmed by sales and paperwork. F&I performance rebounded, however, after the group added document specialists.
Tags: F&I, F&I Revenue, One Sonic-One Experience, Quarterly Earnings, Sonic Automotive
October 22, 2014 - Industry News
Mark Floyd will join Exeter's board of directors and will work with his replacement, Thomas Anderson, to ensure a smooth transition, the company said late yesterday.
Tags: Exeter Finance Corp., Mark Floyd, Subprime Auto ABS, subprime auto finance, Thomas Anderson
October 16, 2014 - Industry News
The new event is designed to offer actionable compliance solutions to dealers and their partners. It will be held at the Seminole Hard Rock Hotel & Casino in Hollywood, Fla.
Tags: compliance, Compliance Summit
October 7, 2014 - Industry News
Attorney General Lori Swanson is suing EFG Companies for deceptive practices because it failed to deliver on its promise of full refunds for VSCs canceled within 30 days. The company’s CEO tells F&I and Showroom his company will be exonerated once all the facts are presented.
Tags: EFG Companies, extended car warranty, extended warranties, John Pappanastos, Lori Swanson, Minnesota AG, Minnesota Attorney General, Robocalls, telemarketing
The indictment of the five dealership employees follows federal charges levied against two other Serra Nissan sales managers earlier this year. They are facing federal charges related to a scheme to fraudulently boost loan approvals and car sales.
Tags: bank fraud, F&I manager, fraud, Nissan Motor Acceptance Corp., Santander Consumer USA
September 16, 2014 - Industry News
Hudson Cook adds another former CFPB official to its offices in Washington, D.C., in Lucy Morris. She was a founding member of the implementation team that organized the CFPB after passage of the Dodd-Frank Act.
Tags: CFPB, Hudson Cook LLP, Lucy Morris
More than 400 dealers traveled to the nation’s capital in support of a new bill that could nullify the CFPB’s guidance on auto lending.
Tags: CFPB, HR 4811, NADA
September 2, 2014 - Industry News
The preconference seminar is designed for general managers, sales managers, BDC and Internet department directors, and F&I directors. The all-day seminar is being offered as a value-add for registrants of Industry Summit.
June 9, 2014 - Industry News
The National Institute of Automotive Service Excellence’s Blue Seal of Excellence signifies the level of expertise and knowledge of repair shop technicians and claims administrators.
Tags: Awards, EFG Companies, Hyundai
Seven financial organizations issued a letter to the U.S. House of Representatives on May 29 in support of an amendment to an appropriations bill that would limit Justice Department litigation relying on the disparate impact theory of discrimination.
Tags: amendment, Consumer Financial Protection Bureau, Department of Justice, discrimination, disparate, legislation
May 28, 2014 - Industry News
CNW reported this week that sales picked up in late May, with the firm expecting deliveries for the month to increase 11% from a year ago.
Tags: Art Spinella, Auto Sales, CNW Research, Subprime Approvals
May 7, 2014 - Industry News
Voting for the 2014 Dealers’ Choice Awards is now open. Readers of the magazine can now cast their vote for the top vendors, consultants and trainers.
Tags: Auto Dealer Monthly, Dealers' Choice Awards
April 28, 2014 - Industry News
Industry Summit 2014 will feature multiple education sessions dedicated to special finance and used-car retailing. Serving as master of ceremonies for those two tracks will be special finance guru Greg Goebel.
Tags: Greg Goebel, Industry Summit 2014, special finance, Used Car Retailing
April 22, 2014 - Industry News
The bank's director of national sales and originations will open Industry Summit 2014 with a keynote address on Monday, Sept. 8, at Paris Las Vegas.
Tags: Capital One Auto Finance, Industry Summit 2014
April 10, 2014 - Industry News
The company expects to complete the separation of the two companies in the early part of the fourth quarter. Leading the Dealer Service business unit will be ADP executives Steve Anenen and Al Nietzel.
Tags: ADP, ADP Dealer Services, Al Nietzel, Carlos Rodriguez, Steve Anenen
April 9, 2014 - Industry News
Honda holds onto its reign as best overall brand and most trusted brand, while Kia, GMC, Jaguar earn first Brand Image Awards.
Tags: Brand Image Awards, GMC, Honda, Jaguar, Kelley Blue Book, Kia
March 25, 2014 - Industry News
Dealership Sales & Technology joins the F&I, Special Finance and P&A Leadership tracks for the annual event, which will be held Sept. 8–10 at Paris Las Vegas.
The publishers of Auto Dealer Monthly have announced that the magazine’s annual Dealers Choice Awards have been moved from the April issue to the August issue.
Tags: Auto Dealer Monthly, Dealer's Choice Awards
March 21, 2014 - Industry News
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