Articles by: Larissa Padden

Coping with CFPB Exams: The Top ‘Dos and Don’ts’ [VIDEO]

Coping with CFPB Exams: The Top ‘Dos and Don’ts’ [VIDEO]

A company’s legal representation should not be present during an exam from the Consumer Financial Protection Bureau, according to Richard Miller, director of compliance at Hyundai Capital America. “There’s a different level of animosity that comes with having a separate legal counsel in that role as a participant in theRead More

Coping with CFPB Exams, The Importance of Interviews [VIDEO]

Coping with CFPB Exams, The Importance of Interviews [VIDEO]

Identify who are your subject matter experts are, engage them early, and start working on all the first day presentations – that’s the advice Richard Miller, director of compliance at Hyundai Capital America, gave on how to prepare for Consumer Financial Protection Bureau exams. Miller, along with Toyota Financial Services’Read More

WEBINAR: The Key to Marketplace Lending is the Digital Platform

WEBINAR: The Key to Marketplace Lending is the Digital Platform

The opportunities that exist in marketplace lending can be credited to the digital platforms that these lenders utilize, rather than the product they are delivering, Robert Shaw, director at PwC, said during a recent webinar, hosted by the Center for Auto Finance Excellence. “If you look at marketplace lenders itRead More

WEBINAR: Embrace Technology to Engage Consumers

WEBINAR: Embrace Technology to Engage Consumers

Smartphones are “the future” when it comes to customer engagement, Joel Kennedy, co-founder and chief compliance officer at Pelican Auto Finance, said during a recent webinar, hosted by the Center for Auto Finance Excellence. “I might be stating the obvious here but: I can call you, I can text you,Read More

GM: Incentivize Good Behavior by Making it Fun

GM: Incentivize Good Behavior by Making it Fun

There is a lot to learn from the Gaming community, and it’s not necessarily its technology. “One of the things we’ve been talking about is gamification, convincing our consumers that certain behaviors, and doing certain things, is a good idea,” said Frankie James, managing director of the General Motors AdvancedRead More

Underbanked Are Not Always Subprime, FactorTrust CEO Says [VIDEO]

Underbanked Are Not Always Subprime, FactorTrust CEO Says [VIDEO]

An underbanked consumer is not necessarily a subprime consumer, according to FactorTrust Chief Executive Greg Rable. “Ultimately, with the underbanked, the differences would be these consumers will have a bank account, they’ll have a job, and they usually just lacked traditional credit options,” Rable told Auto Finance News. In manyRead More

Lenders Beware of ‘Scary Deals,’ Western Funding President Warns

Lenders Beware of ‘Scary Deals,’ Western Funding President Warns

If the auto finance industry continues to see deteriorating conditions like rising LTVs and lengthening loan terms, things could be headed for trouble, Guerin Senter, President of Western Funding said at the Auto Finance Summit 2015 last month. “I think if the industry continues down the current trend, with theseRead More