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WASHINGTON — Five trade groups representing the nation’s largest auto finance sources issued a letter yesterday to the Consumer Financial Protection Bureau’s Richard Cordray, urging the director to review and respond publicly to a study that questions the bureau’s methodology for measuring disparities in dealer reserve. The letter, which even lists out three areas the ... Read More »
Read More →WASHINGTON – The National Automobile Dealers Association (NADA), the American International Automobile Dealers Association (AIADA), and the National Association of Minority Automobile Dealers (NAMAD) today applauded the efforts of five financial services organizations to fix the serious flaws in the Consumer Financial Protection Bureau’s approach to regulating auto financing. The groups, which include the American ... Read More »
Read More →IRVINE, Calif. – Portfolio, one of the nation’s leading reinsurance program manager for automotive dealers, is celebrating its 25th year of delivering comprehensive reinsurance products and services to its dealer clients through a network of professional independent agents. The celebration started with a black-tie party for dealers during NADA 2015 at San Francisco’s Julia Morgan ... Read More »
Read More →SAN FRANCISCO — The National Automobile Dealers Association (NADA) issued a new publication last week — the first day of its annual convention — designed to assist new-car dealers in complying with federal advertising requirements on the sale, financing and leasing of automotive products and services. “A Dealer Guide to Federal Advertising Requirements” was released ... Read More »
Read More →SAN FRANCISCO — At the NADA Convention and Expo, RouteOne announced that it more than doubled the amount of econtracts processed in 2014 to 1.55 million contracts. The technology firm attributed the growth to widespread adoption by more than 4,600 dealers and increased finance source participation. “Early last year we announced a 2014 goal to ... Read More »
Read More →LAKE SUCCESS, N.Y. — At the 2015 National Automotive Dealers Association (NADA 2015) Convention & Exposition in San Francisco last week, Dealertrack showcased its latest connected technologies and services that are driving today’s online to in-store convergence in automotive retailing. “2015 is going to be an exciting year for the automotive retail industry,” said Raj ... Read More »
Read More →SAN FRANCISCO – The fate of the country rests on moving government out of the way of business so “the promise of fair and free opportunity returns to America,” former Florida Gov. Jeb Bush told a capacity crowd at the National Automobile Dealers Association Convention & Expo on January 23. And while the audience of ... Read More »
Read More →SAN FRANCISCO – In his first keynote address as chairman of the National Automobile Dealers Association, Bill Fox delivered a message to critics of the franchised dealer network, according to NADA. “The automotive franchise system is the best and most efficient method of bringing new vehicles to the driving public,” Fox said today in remarks ... Read More »
Read More →WASHINGTON – A new study by the research firm Charles River Associates (CRA) casts doubts on recent allegations made by the Consumer Financial Protection Bureau (CFPB) against Toyota Motor Credit Corp. and American Honda Finance Corp. concerning disparate impact in the pricing of auto loans, reported the NADA. Among the CRA study’s key findings was ... Read More »
Read More →WASHINGTON – A new comprehensive study of more than 8.2 million loan records by Charles River Associates concludes that the method used by the Consumer Financial Protection Bureau (CFPB) to measure for discrimination in an auto lender’s portfolio is “conceptually flawed in its application and subject to significant bias and estimation error,” reported the NADA. ... Read More »
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