MENU
SEARCHIRVINE, Calif. — Longtime retail credit executive Bill Katafias has left Wells Fargo Dealer Services. His new employer, CRB Auto, announced today that he has joined the indirect auto finance source, a division of Mechanics Bank, as CEO. Katafias, who spent 23 years with the Wells Fargo auto finance group, succeeds CRB Auto CEO Scott ... Read More »
IRVINE, Calif. — Longtime retail credit executive Bill Katafias has left Wells Fargo Dealer Services. His new employer, CRB Auto, announced today that he has joined the indirect auto finance source, a division of Mechanics Bank, as CEO.
Katafias, who spent 23 years with the Wells Fargo auto finance group, succeeds CRB Auto CEO Scott Raymer, who previously announced his resignation to pursue other opportunities, according to company officials.
“We are extremely fortunate that Bill was available, and that we are able to add someone of his caliber to our leadership team to continue the future growth of our successful auto finance group,” Mechanics Bank President and CEO John DeCero said. “His extensive experience and proven track record are a great fit, and it demonstrates our continued commitment to our dealer network, our customers and our employees in the indirect auto space.”
Katafias began his career in auto finance with Ford Motor Credit in 1988. He most recently served as executive vice president and national production manager for Wells Fargo Dealer Services, where he managed all aspects of the division’s business, including retail production, oversight of national and regional dealer partners, centralized lending operations, and the decentralized regional business center model of indirect auto (including sales, credit, loan origination, high risk collections and operational risk management).
He now joins longtime CRB Auto Executive Vice President and COO Jim Ponzo in setting and driving the group’s strategic initiatives and future expansion plans. The regional finance source operates in 15 states, including Arizona, California, Colorado, Florida, Idaho, Illinois, Iowa, Kansas, Missouri, Nevada, Oklahoma, Texas, Utah, and Washington.
A May forecast is complicated by last spring’s trade tariff effects on auto retail. Despite continued hard realities, many consumers took advantage of ways to bite the bullet.
Read More →
Iowa-based Coleman Automotive Group recently acquired its seventh dealership, McGrath Nissan, which it renamed Nissan of Elgin.
Read More →
Based on prices, reduced incentives and slower household income growth, consumers found it more challenging to buy new last month, Cox Automotive reported.
Read More →
Work to determine your specialized talent, because that fact will determine everything about your agency’s future.
Read More →
A growing percentage of U.S. consumers are open to switching and fewer are adverse to the idea, according to a recently completed survey. That’s despite the end of a tax break.
Read More →
North American electric-vehicle sales were down 28% year-over-year, a sharp contrast from global EV sales growth of 6%.
Read More →
April borrowing data shows that more consumers are bending over backward to buy vehicles, though subprime lending cooled off for the month.
Read More →
Recent survey data shows that the overall demand for auto loans is down, but the demand for subprime loans is up as consumers face economic uncertainty and affordability pressures.
Read More →
The Mitsubishi location moves from one Texas automotive group to another, continuing this year’s spate of brisk buy-sell activity.
Read More →
As part of its 2030 business plan, Mitsubishi's North America arm will soon open its first 'gallery' store in Tennessee, where customers can learn about the brand, vehicles and technology.
Read More →