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Tuning Into Tech: Why Lenders Struggle to Keep Up With the Digital Pace of...
© Can Stock Photo / peshkov Nearly two thirds of all Americans have smartphones, and nine of every 10 use the internet, according to a Pew Research study. Yet, online auto lending hasn’t kept pace with...
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AFN’s Top 10 Tech Stories of 2017
© Can Stock Photo / arekmalang Fintech earned the attention of the auto industry this year, as captives and lenders aimed for partnerships and the industry as a whole noted the importance of technology...
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Toyota Financial Tests At-Home E-Contracting in Pilot
Toyota’s new Plano, Texas, headquarters. Toyota Financial Services is running a pilot in which consumers can electronically sign all financial and ancillary product documentation before going into the...
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Regulatory Change Prompts Lenders to Halt Funding to Servicemembers Seeking GAP
© Can Stock Photo / jukree The Department of Defense (DoD) threw a wrench into servicemember compliance that’s causing lenders to stop funding contracts with GAP insurance to military members, lawyers...
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Lingering CFPB Consent Order Restricts 3 Lenders to Lower Dealer Markups
Via Flickr As the industry returns to the standard 200- to 250-basis-point cap on dealer markup, three lenders are bound to old consent orders with lower caps that put them at a competitive...
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Model Validation, Infrastructure Issues Hamper Machine Learning Implementation
Can Stock Photo / 75tiks LAS VEGAS — Lenders are becoming more adept at defining use-cases for machine learning, but infrastructure limitations and model validation are hindering implementation,...
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Multiple Speakers Set to Engage in Performance and Compliance Summit
© Can Stock Photo / kasto Auto Finance News is proud to welcome a full slate of diverse speakers to this year’s Auto Finance Performance & Compliance Summit to be held May 9-10 at the Omni Dallas....
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Captive Finance Overtakes Banks in 2017 Loan Originations
© Can Stock Photo / richardpross Captive finance companies saw an increase in auto loan originations in 2017 compared to last year, beating out most banks, according to a new report from CU Direct and...
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Lenders Are ‘In Limbo’ Amid Potential Changes to CFPB Fair Lending Policies
The battle over how the Consumer Financial Protection Bureau polices discrimination cases has long been one of the most contentious wars waged between the auto finance industry and its regulators....
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Auto Outstandings Hit Record $1.1 Trillion, Despite Slowing Growth, Data Shows
The auto finance market continued its slowdown in 2017, new data released today shows. Yet, despite slipping originations, auto loan and lease outstandings topped $1.1 trillion in 2017 – a record high...
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Toyota Financial Services Made Enhancements to Vendor Platform
Photo by Mike Mozart via Flickr DALLAS — Toyota Financial Services has made changes to its vendor oversight platform following the appointment of Veronica Roman as chief compliance officer of last...
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Toyota to Raise Markup Caps Following Early Termination of CFPB Consent Order...
Photo by Paul David via Flickr Toyota Financial Services was approved for early termination of a 2016 consent order — which alleged the captive’s dealer compensation model resulted in higher interest...
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Toyota to Raise Markup Caps Following Early Termination of CFPB Consent Order
Photo by Paul David via Flickr Toyota Financial Services was approved for early termination of a 2016 consent order — which alleged the captive’s dealer compensation model resulted in higher interest...
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Toyota Financial Moves Swiftly to Raise Dealer Markup Cap
Photo by Paul David via Flickr President Donald Trump signed into law last week legislation that rescinds the Consumer Financial Protection Bureau’s guidance on dealer markup rates, and before the ink...
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Lenders Adapt Vendor Oversight in Wake of Wells Fargo’s $1B Fine
Via Ron Cogswell/ Flicker DALLAS — Lenders have battened down the hatches when it comes to vendor management, in the wake of Wells Fargo Auto’s insurance scandals. Even lenders that don’t issue...
View ArticleSeeking Talent: Toyota’s Challenge to Craft a ‘Candidate-First’ Experience
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...
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Sharpening Decisions: Lenders Have Been Forced to Hone Choices Amid...
When Hyundai Capital America entered the subscription space in April 2017, several OEMs were already offering an all-in-one monthly price for lease payments, maintenance, and insurance. Fast forward a...
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DBRS Highlights New Asset-Level Data in Auto ABS Transactions
Independent rating agency DBRS detailed an in-depth look at new asset-level data provided within its database of publicly issued auto ABS transactions — and the risks associated with these pools — in a...
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How Captives Are Reacting to 6 Industry Trends
Dan Berce, chief executive of GM Financial, sits down for a fireside chat at the 2017 Auto Finance Summit. (Photo by William Hoffman) Captive financial companies are often at the forefront of...
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Toyota Financial Services to Offer Rideshare Rental Program
Toyota Financial Services has solicited the white-label mobility service provider Launch Mobility, to jointly create a new short-term rental program for rideshare drivers, the companies announced...
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