Articles

The Cynic’s View on the CFPB Arbitration Rule

The Cynic’s View on the CFPB Arbitration Rule

On July 10, the Consumer Financial Protection Bureau issued the final version of its arbitration rule banning consumer financial services providers from enforcing federal or state court class-action waivers in pre-dispute arbitration agreements. The rule — which takes effect Sept. 19 and with which compliance will be required in MarchRead More

Millennial Appetite for Auto Loans Outpaces Gen-X at Same Age

Millennial Appetite for Auto Loans Outpaces Gen-X at Same Age

Millennials’ appetite for auto loans has grown at a faster rate than Gen-X borrowers at the same age points, according to a study released yesterday by TransUnion. Millennials — who have as much as 24% of the purchasing power in the United States — are different than other generations inRead More

How Blockchain Can Help Combat Auto Lending Fraud

How Blockchain Can Help Combat Auto Lending Fraud

The auto finance industry has long suffered when it comes to truly understanding the assets that are leased and financed on a daily basis around the U.S. This lack of insight is perhaps most apparent when it comes to titles and the remarketing of vehicles. Two significant problems stand inRead More

3 Most Common Types of Fraud and Ways to Prevent It

3 Most Common Types of Fraud and Ways to Prevent It

As consumer fraud continues to rise year over year, lenders are seeking ways to detect and prevent fraudsters before the situation escalates, Frank McKenna, chief fraud strategist for PointPredictive, told Powersports Finance. Historically high lending volumes are fueling an estimated $6 billion in annual fraud losses to lenders, due to fraudstersRead More

Regulatory Attention Points to Challenges Ahead [VIDEO]

Regulatory Attention Points to Challenges Ahead [VIDEO]

The auto finance market needs to focus on “generating positive messages as it endures a flurry of negative publicity” and growing attention from regulators. That is the key takeaway from a video posted this week by White Clarke Group on a panel debate at the International Auto Finance Conference, whichRead More

3 Best Practices for Training Debt Collectors

3 Best Practices for Training Debt Collectors

Auto loan delinquency rates are at the highest level since the 2007 financial crisis, which is why auto lenders are investing more time in debt collection best practices. As such, refining and bolstering training for debt collectors has become increasingly important. Auto Finance News spoke with a few experts inRead More

3 Measures of Dealership Risk for Auto Finance Companies

3 Measures of Dealership Risk for Auto Finance Companies

Why isn’t there a Fico score for measuring dealerships? Auto finance companies use several different tools like D&B, LexisNexis, and AutoCount to measure dealerships. Sophisticated companies go further and build their own scorecards. While figuring out which dealerships are healthy and reliable is a common goal, the industry approaches thisRead More