Articles by: Marcie Belles

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

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

Operations, Payments, Risk May 15, 2015 at 1:35 pm

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

Compliance, Management, Risk May 8, 2015 at 3:36 pm

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

Compliance, Risk, Sales & Marketing April 15, 2015 at 9:49 am

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

Guides, IT, Operations, Risk January 26, 2015 at 3:22 pm

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

Best Practices, Operations, Uncategorized October 28, 2014 at 12:10 pm

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

Management, Operations February 19, 2014 at 10:20 am

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

Best Practices, Operations January 22, 2014 at 5:14 pm

“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

Designing the Customer Experience: A Lesson in Data Analytics

Designing the Customer Experience: A Lesson in Data Analytics

Best Practices, Compliance, IT, Operations, Risk November 8, 2013 at 2:32 pm

Lenders might feel restricted by the recent rise in regulatory requirements, but instead, they should use the guidance to create a better customer experience. That was the message from Kevin Moss, chief risk officer for Wells Fargo & Co.’s consumer lending group, to debt collectors and risk managers at aRead More

Proper Training, More Flexibility Critical for Millennial Employees

Proper Training, More Flexibility Critical for Millennial Employees

Best Practices, HR, Management November 4, 2013 at 11:12 am

The times, they are a-changing. It’s just as true now as it’s always been, even if Bob Dylan is more difficult than ever to understand and the folks who first listened to his records are the ones being told to get out of the new road if they can’t lendRead More