Articles

Kathleen Kraninger Selected to Be Next BCFP Director

Kathleen Kraninger Selected to Be Next BCFP Director

Compliance June 22, 2018 at 11:52 am

PRESS RELEASE — President Donald Trump this week nominated Kathleen “Kathy” Kraninger as the new director of the Bureau of Consumer Financial Protection. Once confirmed by the Senate, Kraninger will replace the bureau’s Acting Director Mick Mulvaney, who also serves as director of the Office of Management and Budget (OMB).Read More

© Can Stock Photo / AdamGregor7

Seeking Talent: Toyota’s Challenge to Craft a ‘Candidate-First’ Experience

Best Practices, HR, Operations June 21, 2018 at 12:58 pm

Before Toyota Financial Services announced its move to Plano, Texas, four years ago, the company averaged a respectably low 5% attrition rate, with little turnover year over year. But when the move was initiated, there was a need to hire hundreds of new employees to replace those who opted toRead More

© Can Stock Photo / jeancliclac

MoneySKILL Now Available in Spanish

Guides June 21, 2018 at 12:46 pm

PRESS RELEASE — On June 12, the American Financial Services Education Foundation (AFSAEF)  launched the Spanish language version of its free online personal finance course, MoneySKILL. “The Hispanic population in the United States continues to grow and it’s important that we reach them with helpful financial literacy tools like MoneySKILLRead More

© Can Stock Photo / kuosumo

Will Disparate Impact Auto Finance Claims Disappear?

Best Practices, Compliance June 15, 2018 at 12:07 pm

As of this writing, the Senate has passed a joint resolution under its Congressional Review Act authority disapproving of the Consumer Financial Protection Bureau’s March 2013 auto lending bulletin that addressed discrimination in indirect auto finance transactions. The House is slated to follow suit, and the president is expected toRead More

© Can Stock Photo / edharcanstock

How E-Signature Technology Can Benefit Lenders

Best Practices, Compliance June 13, 2018 at 12:58 pm

Improving customer satisfaction, mitigating security risks, and lowering costs are important factors for lenders to improve their practices — and in this era of digital distribution, adapting to e-signature technology may be the answer to obtaining these benefits. Greater customer satisfaction serves as a top advantage because it means there’sRead More

How to Embrace AI to Improve Originations [PODCAST]

How to Embrace AI to Improve Originations [PODCAST]

Podcast June 11, 2018 at 11:56 am

As auto lenders struggle to integrate artificial intelligence into origination models, powersports lessor MotoLease has fully embraced the technology. In this episode of The Roadmap, MotoLease Chief Executive Maurice Salter and Chief Operating Officer Emre Ucer discuss the steps involved in using AI for originations, as well as the rationaleRead More

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Consumers Are Willing to Put More Down, If They’re Given a Choice

Guides, Payments June 6, 2018 at 11:52 am

Consumers shopping for an auto loan predictably care most about their interest rate and monthly payment, according to a FICO study, but this suggests lenders can provide more options for down payment and loan term to optimize the customer experience.    Americans cared most about interest rate with 94% ofRead More

Zahid Kassem, senior vice president of fraud and dealer management at Santander Consumer USA

How Smaller Lenders Can Improve Their Fraud Teams

Compliance, Uncategorized May 30, 2018 at 11:55 am

DALLAS — As fraudsters continue to grow smarter and increase in activity, auto lenders have to be extra vigilant in keeping a close eye on their operations. From synthetic to impound fraud, the avenues in which lenders can be taken advantage of is growing. And while bigger lenders and banksRead More

© Can Stock Photo / stokkete

The Next TCPA Battle

Compliance May 25, 2018 at 10:48 am

The Telephone Consumer Protection Act of 1991 (TCPA) was a well-intentioned and early attempt to limit the number of telemarketing calls consumers receive. Among other things, it restricts telephone solicitations (i.e., telemarketing) and the use of so-called “autodialers.” Over the years, it’s been a challenge to determine what equipment isRead More