Articles by: Marcie Belles

Got Complaints? Here’s a Review of Lender Extension Policies

Got Complaints? Here’s a Review of Lender Extension Policies

Lenders should revisit their policies for working out fresh payment arrangements with borrowers who fall behind. The downside of the Consumer Financial Protection Bureau’s complaint database is, it’s easier for customers to criticize their lenders. Potentially, though, the complaint database also offers lenders ideas for strengthening customer relationships. For instance,Read More

Bolstering Reputational Risk Protocol ― Before the Need Arises

Bolstering Reputational Risk Protocol ― Before the Need Arises

The Consumer Financial Protection Bureau, the Department of Justice, and other regulators have made it clear in recent weeks that they will continue to crack down on auto lending operations. While only a handful of financiers have been cited for alleged violations so far, plenty of other companies have acknowledgedRead More

CFPB’s Uncertain Take on Bilingual Ads Merits Lender Caution

CFPB’s Uncertain Take on Bilingual Ads Merits Lender Caution

While retailers vie for the buying power of the U.S. Hispanic population ― on track to eclipse $1.5 trillion this year, according to Nielsen ― auto financiers might be better off on the sidelines until regulators reach some decisions about Spanish language advertising. In a session on fair lending enforcementRead More

6 Tips for Protecting Consumer Data

6 Tips for Protecting Consumer Data

How many data breaches occurred in the United States in 2014? 153 497 612 783 Way too many If you answered D or E, you were correct. According to the Identity Theft Research Center, the number of data breaches increased nearly 28% last year, and that was after an 18%Read More

Going Direct: How to Build a Direct Lending Business

Going Direct: How to Build a Direct Lending Business

Back in 2005, consumers visited 4.1 dealerships before buying their cars. They were often uncertain about trade-in values, and simply followed leads from newspaper ads or radio spots. But the convenience and accessibility of the web have sent much of the vehicle-buying process online.

Putting the ‘Service’ Back Into Servicing

Putting the ‘Service’ Back Into Servicing

It’s important to monitor the competition, but lenders must also keep tabs on what the Amazons and Costcos of the world are doing, because consumers expect their financial institutions to keep pace.

Five Most Effective Collection Strategy Improvements

Five Most Effective Collection Strategy Improvements

“5 Most Effective Collection Strategy Improvements,” the second of a series of quarterly webinars covering best practices in Auto Finance and presented by the Center for Auto Finance Excellence