Consumer Advocates Call on Regulators to Clamp Down on Discriminatory Auto Lending

Consumer advocates proposed prohibiting dealer markups and increasing federal oversight to combat alleged discriminatory indirect lending practices, in a U.S. House Committee on Financial Services hearing Wednesday. “Many of the disparities we will discuss here today are only possible because the market for cars — especially car finance for used cars — is opaque and inconsistent,” said witness […]
  • Bianca Chan
  • May 2, 2019
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Chase Exec Outlines the Intersection Between Women, Marketing, and Auto Finance

Successful marketing hinges on knowing what consumers want — and part of that is knowing who your customers are. Women consumers are responsible for 65% of new-vehicle purchases and service work done at dealerships, Chase Auto Chief Marketing Officer Melinda Welsh noted in a recent blog post. As the number of females at the consumer […]
  • Bianca Chan
  • April 24, 2019
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Navy Federal Reinforces Customer Service with Tech

The intersection of customer service and technology is top of mind for Navy Federal Credit Union this year, with enhancements to electronic signatures, mobile applications, and digital portals, said Vice President of Consumer Lending Joseph Pendergast. With 18,000 employees worldwide and more than 8 million members within all branches of the armed forces — including […]
  • Bianca Chan
  • April 17, 2019
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Five Questions With… Jim Murray of Western Funding

Five Questions With is a monthly Q&A segment on AutoFinanceExcellence.org that offers a glimpse of what senior industry executives are thinking about outside the boardroom. Read on to find out. Jim Murray has led Western Funding Inc. since September 2017. He came to Las Vegas-based Western Funding with two decades of specialty finance experience in […]
  • Nicole Casperson
  • April 5, 2019
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Chase Auto Exec Highlights Missed Business Opportunity: Women

The consumer side of the auto industry is becoming more female-dominated, and a Chase Auto executive is calling for the industry’s labor force to catch up. In a blog post published last week, Chief Marketing Officer Melinda Welsh said, “Women consumers are responsible for 65% of new-vehicle purchases and service work done at dealerships.” Still, […]
  • Bianca Chan
  • April 1, 2019
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New Webinar Offers Tips for How Lenders Should Adapt to Digital Disruption

Digital disruptors have shaken up traditional auto finance, compelling lenders to adapt to the new paradigm or risk losing business. One critical decision for finance company executives involves determining which elements of the car-buying and -financing process are most effectively linked — and which should be kept separate. That’s the upshot from the latest webinar […]
  • Nicole Casperson
  • March 26, 2019
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Will Ride-Hailing Replace Personally-Owned Cars? Execs Weigh In

LAS VEGAS —  The disruptive impact that ride-hailing companies are having on auto finance is evident with the success of Uber and Lyft. While both companies are not profitable, Uber ‘s revenue surged 43% to $11.3 billion in 2018 and Lyft’s revenue doubled to $2.2 billion. However, the question confronting auto finance is whether ride-hailing […]
  • Bianca Chan
  • March 11, 2019
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How Lenders Can Take Advantage of Mobility as a Service  

The carshare and rideshare markets are gaining traction, and financiers must adapt their strategies or risk getting left behind. “The challenge for lenders today is that they aren’t managing the loan properly because they don’t know they are financing vehicles for the rideshare and carshare consumer,” Brian Allan, senior director of strategic partnerships at HyreCar, told Auto Finance […]
  • Nicole Casperson
  • February 28, 2019
  • 0
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