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MCLEAN, Va. — Wholesale prices for vehicles up to eight years in age fell 2.3% in July, tying June for the biggest drop recorded so far in 2016, according to the NADA Used Car Guide. As a result, the firm lowered its seasonally adjusted used vehicle price index 1.1% to 118.9 . The largest decline in ... Read More »
Read More →WASHINGTON, D.C. — The Consumer Financial Protection Bureau’s proposed small-dollar lending rule would neither not adequately protect borrowers, nor address the risks created by the shift toward installment credit in the payday and auto title lending market, a new analysis concludes. Conducted by Pew Charitable Trusts, the analysis outlines the reasons for the shift to ... Read More »
Read More →DETROIT — When it comes to choosing lender partners, dealers value the type of relationship they have with their finance sources over the speed of their services, according to J.D. Power’s 2016 U.S. Dealer Financing Satisfaction Study. Jim Houston, senior director of the automotive finance practice at J.D. Power, said finance sources need to shift from ... Read More »
Read More →ALTOONA, Pa. — United Datacom Networks Inc. (UDNI) announced the launch of Dealers Edge, a new IT support program designed to help dealers meet their legal obligations with respect to data privacy and security. Services include remote management and 24/7 monitoring. “The core elements of the program are centered on maximizing existing technology, lowering costs, ... Read More »
Read More →DETROIT — J.D. Power has appointed Jim Houston as senior director of its auto finance practice. In his new role, Houston will use his 30-year experience in auto finance to help guide the industry through a potentially volatile period of new-vehicle sales and declining used-car values, the company said. “I’m very excited to be joining ... Read More »
Read More →WASHINGTON, D.C. — On Wednesday, more than 100 members of Congress called on the Consumer Financial Protection Bureau (CFPB) to proceed with its effort to eliminate forced arbitration. In two separate letters, 103 members of the House of Representatives and U.S. Senatepraised CFPB Director Richard Cordray for his agency’s proposed rule prohibiting mandatory arbitration clauses in finance contracts. ... Read More »
Read More →LAS VEGAS — Organizers of the upcoming Compliance Summit have announced that Automotive Compliance Education (ACE) will be offering free headshot photography to every attendee. The event will be held Aug. 29–30, 2016, at Paris Las Vegas, co-located with the annual Industry Summit. “Given the number of selfies and out-of-date photos I see on LinkedIn and business ... Read More »
Read More →LAS VEGAS – Organizers of the annual P&A Leadership Summit have released the full agenda for the 2016 event, which will be held Aug. 30–31 at Paris Las Vegas. “We are pleased to offer an agenda tailored to the needs of leading executives in the F&I industry,” said David Trinder, CEO of F&I Administration Solutions and advisory board chair. ... Read More »
Read More →Welcome to the inaugural Las Vegas Compliance Summit! Our series of regional events has made stops in Miami, Chicago, Austin and Tampa, and we can’t wait to share our program with you here at Paris Las Vegas. Compliance Summit was designed to deliver a crash course in federal regulations and enforcement actions and help you ... Read More »
Read More →LAS VEGAS — Jim Radogna, a San Diego-based compliance expert and trainer, will serve as the luncheon speaker at the upcoming Compliance Summit, organizers announced Thursday. The event, which marks Compliance Summit’s first visit to the Western states, will be held Aug. 29–30, 2016, at Paris Las Vegas. “Jim’s reputation as a nationally recognized expert, trainer ... Read More »
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