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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AFSA Provides Input on Cybersecurity to Key Senate Committee

Last month, the Senate Committee on Banking, Housing and Urban Affairs asked for feedback on the consumer finance industry’s views on cybersecurity, especially the collection, use and protection of sensitive financial information. “Given the exponential growth and use of data, and corresponding data breaches, it is worth examining how the Fair Credit Reporting Act should work in […]
  • American Financial Services Association
  • March 21, 2019
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State Regulators Step Up to Post-Cordray Era Challenge

Much has been reported on changes at the Consumer Financial Protection Bureau after new leadership took the helm a little over a year ago. We have watched the evolution of the agency’s enforcement posture, the repeal of its 2013 indirect auto fair lending bulletin, and an overhaul to its rulemaking agenda. The auto finance industry […]
  • Kelly Lipinski
  • March 19, 2019
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How Staying Compliant Improves Customer Experience

There are many good reasons for a financial institution to comply with current lending regulations. Nobody wants to pay hundreds of thousands of dollars in fines or earn a reputation as someone who takes advantage of consumers. Not least of all, good lenders feel an ethical obligation to follow the law and treat customers fairly, […]
  • Lynn Hess
  • March 18, 2019
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FTC Proposes Amendments to Safeguards and Privacy Rules

Last week, the Federal Trade Commission issued proposed amendments to its Safeguards Rule and Privacy Rule, both promulgated under the Gramm-Leach-Bliley Act (GLBA). The Safeguards Rule, which originally went into effect in 2003, requires that financial institutions develop, implement, and maintain a comprehensive information security program. The Privacy Rule, which originally went into effect in […]
  • Peter Cockrell
  • March 14, 2019
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5 Features of Lending Technology to Measure Compliance

“We expect that the next five years will bring more change to auto finance than the past 50 years combined.” That statement from PricewaterhouseCoopers, made in the consultancy’s Auto Finance Risk and Compliance Highlights 2017 report, was based on research into the numerous factors affecting auto lending. With urbanization, evolving models of vehicle ownership, changing […]
  • Lana Johnson
  • March 13, 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
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