Articles

Compliance Insider: The Cynic Returns

Compliance Insider: The Cynic Returns

You may recall that last month I wrote about how a cynic might view the Consumer Financial Protection Bureau’s arbitration rule and its corresponding ban on class-action waivers in predispute arbitration agreements. My cynic held the view that the rule, while purporting to be only a ban on waivers, wasRead More

Why Regulators Are Keeping a Close Watch on Dealers

Why Regulators Are Keeping a Close Watch on Dealers

Dealers are faced with an assortment of issues today when it comes to the red-tape of compliance. From the Consumer Financial Protection Bureau to the Department of Justice and state attorneys general, they are all keeping a close watch on dealer business practices. But some issues, more than others, areRead More

How to Create a Customer-Centric Auto Lending Experience

How to Create a Customer-Centric Auto Lending Experience

The paper process during a transaction is a challenge lenders face in the space, because up to 3% of all loans initiated tend to not get booked, which would lead to “additional work” and “loss in revenue,” Theodore Papailiou, director of value engineering at eOriginal, said during a webinar entitled HowRead More

Digital Services ‘Open the Floodgates’ for Disruption, Divido Exec Says [VIDEO]

Digital Services ‘Open the Floodgates’ for Disruption, Divido Exec Says [VIDEO]

As on-demand streaming services like Netflix and Spotify transform the expectations of digital consumers, auto lenders will need to “respond quickly” when it comes to funding requirements, Christer Holloman, chief executive and co-founder of Divido, told attendees at the International Auto Finance Network conference in London. “Consumers want things straightaway,Read More

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