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Machine Learning and the Luck of the Irish

IT, Opinion March 14, 2018 at 4:44 pm

This week the world celebrates all things Irish, with St Patrick’s Day coming up on the 17th of March. We’ll talk about Irish things soon enough, but first, while attending the #AFI2018 conference last week in San Francisco, there was some worthy discussion around A.I. and machine learning. A veryRead More

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How to Manage an Older Workforce Amid Rising Millennials

Best Practices, HR March 13, 2018 at 11:57 am

ORLANDO — While millennials may be entering the workforce across a wide range of industries, it’s still “vitally important” to make sure that the Baby Boomers and Gen Xers feel relevant at a company, said Kelly Joscelyne, global talent officer at Mastercard, said at CBA Live 2018. While speaking atRead More

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Growth of Synthetic Identity Fraud Slows in 2017

Risk March 8, 2018 at 11:52 am

Synthetic identity fraud grew in the fourth quarter on a year over year basis, but artificial intelligence is helping to slow the pace of growth, according to a report from TransUnion. Synthetic fraud balances rose 5.2% in the fourth quarter compared with the same period the year prior, according toRead More

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Indirect Auto Lending: GAO Opinion Provides Clarity, But Will It Be Enforced?

Best Practices, Compliance, Opinion March 6, 2018 at 11:00 am

A recent finding by the U.S. Government Accountability Office (GAO) could have a significant impact on the indirect auto lending industry. In December, the GAO issued an opinion declaring that a Consumer Financial Protection Bureau bulletin issued on March 21, 2013, titled “Indirect Auto Lending and Compliance with the EqualRead More

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AFSA Comments on NYC Proposed Rules for Secondhand Auto Dealers

Operations March 2, 2018 at 10:30 am

On Feb. 28, the American Financial Services Association (AFSA) submitted a comment letter to the New York City Department of Consumer Affairs regarding the Department’s proposed rules for secondhand auto dealers. The proposed rules would implement Local Laws 197 and 198 of 2017, which passed the City Council in September.Read More

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3 Benefits of Using End-of-Lease Independent Vehicle Inspections

Best Practices February 28, 2018 at 10:00 am

When it comes to the end of a vehicle’s lease, all involved — lender, dealer, and lessee — appreciate when the turn-in experience is a pleasant one. Third-party vehicle inspections can go a long way toward ensuring pleasant experiences. End-of-lease independent vehicle inspections have become increasingly popular for bringing efficiencyRead More

How ABS Credit Enhancements Are Masking Subprime Risk [PODCAST]

How ABS Credit Enhancements Are Masking Subprime Risk [PODCAST]

Podcast, Risk February 26, 2018 at 11:30 am

Multiple subprime auto securitizers are coming to the market with lower average Fico scores, longer terms, and higher loan-to-value ratios than their previous issuances. Yet, these deals are being rewarded with higher ratings. Joseph Cioffi, a partner at Davis & Gilbert LLP, has identified a fair amount of risk inRead More

Lenders Advised to Take Action to Invest in Mobility [VIDEO]

Lenders Advised to Take Action to Invest in Mobility [VIDEO]

Best Practices, Operations February 22, 2018 at 10:00 am

As mobility services continue to grow, transforming the auto finance landscape, lenders are advised to take action to keep up with the evolving auto space, several executives said during a panel discussion at the 2017 Auto Finance Summit last October. “The people we are in business with are not watching, butRead More

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Examining the Defense Department’s Revised Military Lending Act

Compliance, Opinion February 19, 2018 at 10:30 am

If you are in the auto finance business, you cannot possibly have missed the drama percolating around the Department of Defense’s (DoD’s) new interpretation of its own regulation’s purchase-money vehicle finance exclusion, which says transactions with GAP, credit insurance, or other credit-related ancillary products are not within said exclusion. Rather,Read More