Nevada regulators signal enforcement delay of spousal credit rule, lawyer says

Nevada regulators have suggested they may delay enforcement of legislation that went into effect Oct. 1 until they address concerns raised in a lawsuit filed by three financial services trade groups, Candy Burnette, an attorney in McGlinchey Stafford’s Cleveland office, told Auto Finance News. The law in question is an amendment to the state’s Equal […]
  • Marcie Belles
  • November 13, 2019
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Top questions lenders should ask fintech partners

The number of fintechs seeking lending partnerships is growing, and lenders are coming to terms with the risks and rewards of such alliances. Fintechs offer great opportunities, including reaching new customers, improving customer service, automating manual processes, reducing costs and improving service in the way consumers obtain financing. These opportunities also bring risks associated with […]
  • Robert Savoie
  • November 6, 2019
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Taking advantage of telematics responsibility

Portable technology — mobile phones, laptops, vehicles and aftermarket navigation devices — travel with us nearly everywhere we go, constantly exchanging data with unseen satellites above. This data is rich with potential applications, and telematics systems allow a number of industries to harness this data to accurately pinpoint the location of collateral, plan efficient routes, […]
  • Emily Honsa-Hicks
  • November 5, 2019
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Prioritizing tech to boost momentum

Technology advances have always moved quickly, but now they are accelerating so rapidly that it seems nearly impossible for even well informed, strategically sophisticated companies to keep up. The financial services sector is coping with an especially dizzying pace of change. The process of choosing where to invest your technology budget involves a systematic and […]
  • David Crawford
  • November 4, 2019
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‘Be your authentic self,’ Renee Horne urges execs at 2019 Women in Auto Finance Luncheon

LAS VEGAS — In banking and consumer finance, the percentage of women representing the workforce in C-suite positions is 24%, compared with 56% of women employees in entry-level positions, Renee Horne, vice president of consumer lending experiences at USAA Federal Savings Bank, said during the Women in Auto Finance Luncheon at the Auto Finance Summit […]
  • Nicole Casperson
  • October 29, 2019
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Member-focused strategy drives PenFed’s product innovation

Ivan McBride is competitive, and it’s easy to understand why. He played professional baseball for the Cleveland Indians before starting his career in the auto industry 25 years ago. Nowadays, though, McBride has tempered that ambition with a healthy dose of patience, learning to “stay focused on what you do well and not get distracted,” […]
  • Bianca Chan
  • October 28, 2019
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A lenders guide to refund fees and charges of ancillary products

Ancillary products are under scrutiny by attorneys general, the Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency. These regulators are evaluating creditors’ policies and practices related to refunds of ancillary products upon early termination of the underlying contracts. Many ancillary products are statutorily governed as insurance, and there are legal […]
  • Jean-Paul Perrault and Kristi W. Richard
  • October 25, 2019
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How aftermarket products give subprime lenders an edge

Fueled by off-lease volume and consumer demand, used-vehicle sales are nearing record levels. For lenders focused on used vehicles — particularly lenders with subprime practices — these are opportune times. However, lenders need to differentiate their services to scale a profit. By leveraging cloud, auto-decisioning and paperless lending technologies, lenders gain a competitive edge with […]
  • Lana Johnson
  • October 24, 2019
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High-tech to high-touch: How AI empowers lenders to humanize customer experiences

From filtering email spam to analyzing checks for mobile deposit, artificial intelligence is becoming ingrained into daily life in ways both seen and unseen. For financial institutions, the arrival of AI-driven tools has raised the bar for the customer experience. Digital tools are replacing traditionally human touchpoints with a faster, more satisfying experience — and […]
  • David Crawford
  • October 23, 2019
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