House Approves Resolution to Repeal CFPB’s Dealer Participation Guidance

WASHINGTON, D.C. — The U.S House approved on Tuesday its version of the resolution of disapproval of the Consumer Financial Protection Bureau’s dealer participation guidance. The resolution now heads to President Trump’s desk, where it is expected to be signed. The 234-175 vote was cast largely along party lines, although 11 Democrats crossed the aisle ... Read More »

RouteOne, MaximTrak Streamline F&I Process With New Functionality

FARMINGTON HILLS, Mich. — Product documents from the 110-plus F&I product providers connected to MaximTrak’s sales and F&I solution can now be included in RouteOne’s econtracting package for a single, electronic consumer signing ceremony, RouteOne announced today. Designed to deliver a streamlined process to enhance the customer experience, the new functionality enables a fast, easy, and secure ... Read More »

TD Auto Finance Commercial Services Announces National Expansion

CHERRY HILL, N.J. — TD Auto Finance today announced the national expansion of TDAF Commercial Services, which leverages TD Bank N.A. to provide floorplan financing and commercial lines of credit to automotive dealerships. “We are incredibly excited to continue growing our commercial business,” said TDAF President and CEO Andrew Stuart. “This decision signifies TD’s strong ... Read More »

TD Auto Finance Joins AutoGravity Network

Clarivoy Appoints Jessica Ruth to VP Role

Experian Unveils Tri-Bureau Trended Attributes

COSTA MESA, Calif. — Experian unveiled the industry’s first tri-bureau trended attributes, which are aimed at giving finance sources a wider view into consumer credit behavior and patterns over time. Ultimately, this helps them expand into new risk segments and better tailor credit offers to meet consumer needs. An Experian analysis shows that custom models ... Read More »

Auto Loan Interest Rates Soar to Eight-Year High

SANTA MONICA, Calif. — Interest rates on new-vehicle loans were expected to soar to their highest point in eight years in February, Edmunds said last week. The annual percentage rate (APR) on new financed vehicles averaged 5.2% in February. That’s up from 4.9% in 2017 and 4.4% five years ago. Edmunds experts point to an ... Read More »

FTC Approves Consent Order in Texas Dealer’s Deceptive Advertising Case

Judge Again Rules in Favor of Trump in Battle for Control of CFPB

WASHINGTON, D.C. — A federal judge once again sided with the White House in the battle for control of the Consumer Financial Protection Bureau, denying last Wednesday a request by CFPB Deputy Director Leandra English for a preliminary injunction to remove President Donald Trump’s appointee as acting head of the agency. The ruling comes less than ... Read More »

CFPB: Longer-Term Loans Not Having Desired Effect for Borrowers, Finance Sources