Articles

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15 Tricky Questions Consumers Ask About Auto Finance

Guides, Operations, Sales & Marketing March 27, 2018 at 11:14 am

Any company needs to anticipate the questions their consumers will ask — before they ask them — in order to create a positive customer experience. Auto finance is no different. In fact, since auto loans and leases are relatively complex products compared to, say, neckties, lenders should do more upfrontRead More

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Nicholas Financial Gears Up for Return to ‘Disciplined’ Subprime Underwriting

Best Practices, Management, Risk March 26, 2018 at 10:00 am

Amid a 41% year-over-year decline in originations during the fourth quarter of 2017, Nicholas Financial hopes to get “back to the basics” and reestablish its presence in the deep-subprime market, new Chief Executive Doug Marohn told Auto Finance News. “Nicholas is a lot of things, and Nicholas has enjoyed aRead More

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The Privacy Pickle of Massive Data

IT, Opinion, Risk March 22, 2018 at 11:59 am

Mark Zuckerberg and Facebook are in quite a pickle. The Cambridge Analytica scandal that has roiled the country this week has exposed a basic truth: that privacy and Facebook’s business model are at odds. Amp up the privacy and data protections, and the social network that fuels Facebook’s growth is stanched.Read More

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It’s a New Day for the CFPB

Best Practices, Compliance, Opinion March 22, 2018 at 10:00 am

What a difference a day — or a couple of months — makes! The Consumer Financial Protection Bureau issued its five-year strategic plan in February, and boy does it paint a picture of a kinder, gentler CFPB. Well, maybe neither kind nor gentle, but I’ll settle for an agency interestedRead More

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Enabling Automotive Subscription Services to Scale

Best Practices, Operations March 19, 2018 at 10:30 am

Customers have endless options when it comes to personal transportation, ranging from the traditional purchase or lease of a vehicle, to on-the-spot rentals and ridesharing services such as Lyft and Uber. Nearly 40 years after the leasing model was adopted by Ford, a new contender is rapidly emerging: subscription-based vehicleRead More

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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, Guides, 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