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Categories: Auto Finance, Dealer Ops, F&I
Fed Reserve Approves Third Rate Hike of 2018

The Federal Reserve on Wednesday raised interest rates for the third time this year and signaled it will raise the cost of borrowing again in December....

https://www.autodealertodaymagazine.com/350987/fed-reserve-approves-third-rate-hike-of-2018
Categories: Auto Finance, Dealer Ops, Digital, F&I
Cox Automotive’s O’Neil to Retire in February

The tech firm confirmed this week reports that COO Mark O’Neil plans to retire this February. He’ll depart almost four years after Cox’s acquisition of...

https://www.autodealertodaymagazine.com/350997/cox-automotives-oneil-to-retire-in-february
Categories: Auto Finance, Compliance, Dealer Ops, F&I
Pa. Dealer Agrees to Pay $2.1 Million to End Prosecution Into Bank Fraud

According to the U.S. Attorney’s Office, Hallman Chevrolet falsified loan documents as well as costume jewelry brought in by customers as collateral for...

https://www.autodealertodaymagazine.com/351032/pa-dealer-agrees-to-pay-2-1-million-to-end-prosecution-into-bank-fraud
Categories: Auto Finance, Compliance, Dealer Ops, F&I
AG Coalition: CFPB Has 'No Authority to Overrule' High Court’s ECOA Interpretation

A coalition of 14 attorneys general warned CFPB Acting Director Mick Mulvaney against taking any action to reinterpret ECOA as not providing for disparate...

https://www.autodealertodaymagazine.com/351037/ag-coalition-cfpb-has-no-authority-to-overrule-high-courts-ecoa-interpretation
Categories: Auto Finance, Dealer Ops, F&I
Experian: Finance Amounts, Monthly Payments Reach New Highs in Q2

Affordability remains a concern despite finance sources continuing to tighten underwriting standards, according to the firm. Consumers, however, seem...

https://www.autodealertodaymagazine.com/351042/experian-finance-amounts-monthly-payments-reach-new-highs-in-q2
Categories: Dealer Ops, F&I
Calif. Board: GM Violated State Law in Attempting to Cancel Dealer's Franchise

In an Aug. 13 ruling, the California New Motor Vehicle Board sided with Folsom Chevrolet in a case that calls into question the way General Motors and other...

https://www.autodealertodaymagazine.com/351052/calif-board-gm-violated-state-law-in-attempting-to-cancel-dealers-franchise
Categories: Auto Finance, Compliance, Dealer Ops, F&I
Senate Committee Narrowly Confirms Trump's Pick to Head BCFP

The U.S. Senate Banking Committee narrowly approved the nomination of Kathy Kraninger to head the Bureau of Consumer Financial Protection. The vote sends...

https://www.autodealertodaymagazine.com/351059/senate-committee-narrowly-confirms-trumps-pick-to-head-bcfp
Categories: Dealer Ops, F&I
TFS President and CEO Mike Groff to Retire; Successor Named

Mike Groff was employee No. 7 when he joined a fledgling Toyota Motor Credit Corp in 1983. The captive’s president and CEO will retire on Aug. 31. Replacing...

https://www.autodealertodaymagazine.com/351098/tfs-president-and-ceo-mike-groff-to-retire-successor-named
Categories: Auto Finance, Compliance, Dealer Ops, F&I
FTC Charges Arizona Group With Falsifying Incomes on Consumer Credit Apps

According to the regulator, this was the FTC’s first action alleging income falsification by dealerships. Charged are the owners of Tate’s Auto Group, which...

https://www.autodealertodaymagazine.com/351106/ftc-charges-arizona-group-with-falsifying-incomes-on-consumer-credit-apps
Categories: Auto Finance, Dealer Ops, Digital, F&I
AutoGravity Names New CEO, CTO

Alex Mallman, who most recently served as president and CEO of Mercedes-Benz Auto Finance China, replaces AutoGravity’s co-founder and CEO Andy Hinrichs,...

https://www.autodealertodaymagazine.com/324064/autogravity-names-new-ceo-cto


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