News

GM Financial Completes Transition to Captive in Q1

FORT WORTH, Texas — In a scheduled call with investment analysts to announce General Motors Financial Co. Inc.’s first-quarter results, CFO Chris Choate said the process of converting the auto finance company formerly known as AmeriCredit Corp. into GM’s global captive finance company has reached its end. “Our evolution as a full captive is substantially ... Read More »

FTC Adds Cyberattack Resources for Small Businesses

WASHINGTON — The Federal Trade Commission (FTC) has launched a new website with articles, videos, and other information aimed at helping small business owners avoid scams and protect their computers and networks from cyberattacks and other threats. “Small businesses are critical to our economic strength, building America’s future, and helping the United States compete in ... Read More »

Auto Finance Sources Team Up to Combat Fraud

SAN DIEGO — Thirteen finance sources representing more than a third of U.S. auto finance originations are looking to take a bite out of fraud. They took part in a roundtable last week to discuss ways to expand participation in a consortium aimed at tackling the estimated $6 billion in annual fraud losses. The Auto ... Read More »

Manheim Promotes Three to GM

ATLANTA — Manheim announced the promotion of three experienced leaders to general manager roles: Dave Rathjens at Manheim Lakeland, Greg Milam at Manheim Seattle and Martin Sandoval at Manheim Central California. “Manheim has a strong track record of developing our team members into leaders, and we’re fortunate to have these pros as new general managers,” ... Read More »

TEGNA Board Approves Spin-Off of Cars.com

McLEAN, Va. – TEGNA Inc. today announced that its board of directors has approved the previously announced spin-off of Cars.com, which will create two publicly traded companies: TEGNA, a media company with the largest broadcast group among major network affiliates in the top 25 markets, and Cars.com. The spin-off will be affected through a pro ... Read More »

Sonic: Record F&I Performance Offset by Lower Retail Sales

CHARLOTTE, N.C. — The record per-copy average Sonic Automotive’s F&I operations delivered in the first quarter added $700,000 to total F&I gross. But those gains were entirely offset by lower overall retail sales. On a same-store basis, F&I operations increased F&I profit per unit retailed by $11 from a year ago to $1,370. But with ... Read More »

EFG Companies Receives National Recognition for Holistic Approach to Customer Service and Client Development

Imprise Financial Announces Derek Thomas as Account Executive

STRONGSVILLE, Ohio – Imprise Financial PCC, Inc., is proud to welcome Derek Thomas to the position of Account Executive. In this position, Derek is responsible for serving Imprise Financial’s captive insurance clients with an emphasis on enterprise risk programs. Derek will focus on helping small and mid-size companies evaluate and establish captive insurance programs. Such ... Read More »

Longtime Wells Fargo Dealer Services Exec Joins CRB Auto

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 ... Read More »

GWC Warranty Releases Fifth Video In Award-Winning Behind The Wheel Dealer Story Series

WILKES-BARRE, Penn. – GWC Warranty, the best-in-class provider of used vehicle service contracts and related finance and insurance products sold through automotive dealers, has released the fifth video in the award-winning Behind The Wheel dealer story series. The latest release in the Behind The Wheel series features Safeen Motors, an independent dealership in Garland, Texas ... Read More »