Industry News

NAF Association to Host Webinar to Update Industry on Consumer Protection Agency Ramifications -- July 15, 2010
HANOVER, Md. — How will the new Consumer Protection Agency impact non-prime auto financing? That's what the National Auto Finance Association is seeking answers for in its upcoming Webinar slated for ... [ Full Story ]

Wolters Kluwer Enhances Fair Lending Solution -- July 15, 2010
MINNEAPOLIS — Wolters Kluwer Financial Services announced this week that its Fair Lending Wiz software now includes an ethnicity proxy functionality. Management explained the enhancement can allow financial institutions to make ... [ Full Story ]

Nicholas Financial Continues Growth Strategy -- July 15, 2010
CLEARWATER, Fla. — Nicholas Financial announced Wednesday that it has opened two new branch offices. The new facilities are in ... [ Full Story ]

Auto Equity Loans Launches Three New Offices -- July 15, 2010
WILMINGTON, Del. — Auto Equity Loans, a provider a short-term loans based on "clear and free" auto loan titles, announced it is opening three new offices in ... [ Full Story ]

GMAC's North American Auto Finance Business to Become Ally -- July 13, 2010
DETROIT — This morning, Ally Financial announced it will rebrand its GMAC consumer and dealer-related auto finance operations in the U.S., Canada and ... [ Full Story ]

Wells Fargo Dealer Services Continues Business as Usual -- July 13, 2010
DES MOINES, Iowa — Wells Fargo Dealer Services' president told SubPrime Auto Finance News this week that the Wells Fargo Financial restructuring will have no impact on indirect dealer auto loans. Indeed, Tom Wolfe told SubPrime... [ Full Story ]

Reynolds, COINdata Partner to Enhance Dealer F&I -- July 13, 2010
DAYTON, Ohio — Reynolds and Reynolds and COINdata recently reached an integration partnership intended to strengthen a critical part of the vehicle sale process. Executives explained the agreement means the Reynolds LAW 553 Universal Retail Installment Sale Contract now ... [ Full Story ]

GrooveCar Unveils New Web Strategy to Push Auto Lending at Credit Unions -- July 13, 2010
HAUPPAUGE, N.Y. — GrooveCar recently revamped its website with a host of added features and promotions geared to boost the potential for credit unions to capture more direct auto loan accounts on ... [ Full Story ]

Consumers Can Now Select Special Chrysler Incentives -- July 08, 2010
AUBURN HILLS, Mich. — In addition to announcing that most 2010 vehicles financed through GMAC are eligible for zero-percent financing, Chrysler also said today that it is allowing customers the option of returning a new vehicle within 60 days. More specifically, if a customer is not happy ... [ Full Story ]

ABA: Direct, Indirect Auto Loan Delinquencies Improve -- July 08, 2010
WASHINGTON, D.C. — Both direct and indirect auto loan delinquencies showed improvement for the quarter, according to the American Bankers Association. ABA reported that direct auto loan delinquencies ... [ Full Story ]

Chase Auto Finance Continues Expansion in Southeast -- July 08, 2010
GARDEN CITY N.Y. — After Chase Auto Finance unveiled new offices in the Midwest and the Northeast earlier this year, this week the company expanded its presence in the Southeast. Executives announced the opening of a full-service Custom Finance Business Center in ... [ Full Story ]

Wolters Kluwer Granted Patent for AppOne Solution -- July 08, 2010
BATON ROUGE, La. — Wolters Kluwer Financial Services revealed this week that it received notification from the United States Patent and Trademark Office regarding one of its solutions. Federal officials gave a U.S. patent to Wolters Kluwer for its ... [ Full Story ]

KBB, Mint.com Team Up to Aid Consumers -- July 06, 2010
IRVINE, Calif. — As a way to help consumers prepare for a vehicle purchase, Kelley Blue Book on Tuesday entered into a partnership with Mint.com, a free online personal finance service from Intuit. Thanks to this agreement, officials explained Kelley Blue Book Values are scheduled to be ... [ Full Story ]

Consumer Bankruptcy Filings Climb Double Digits -- July 06, 2010
ALEXANDRIA, Va. — U.S. consumer bankruptcy filings were up double digits for the first six months of 2010. According to the American Bankruptcy Institute, filings came in at ... [ Full Story ]

Southwest Title Loans Says It's Business as Usual -- July 06, 2010
SCOTTSDALE, Ariz. — Even though one minute past midnight on July 1 marked what Southwest Title Loans calls the end of the payday loan industry in Arizona, the company says it is continuing to provide short-term title loans to consumers. According to Curt Potts, director of business development ... [ Full Story ]

Pentagon Federal Credit Union Now Offering Low APR -- July 06, 2010
ALEXANDRIA, Va. — In an attempt to generate more auto-loan business, Pentagon Federal Credit Union recently unveiled what it's calling attractive interest rates for new, used and refinanced vehicles. Currently available only for a short time, officials indicated the contract can run ... [ Full Story ]

Bankrate.com Reports on Latest Auto Loan Trends -- July 01, 2010
NEW YORK — Bankrate.com published its weekly look at auto loan rates Wednesday. The group surveys large banks and thrifts to collect the information. According to the group, rates were up ... [ Full Story ]

DBRS Says Santander Retaining Philosophy of Drive Financial -- July 01, 2010
NEW YORK — DBRS recently assigned final ratings to several non-prime classes issued by Santander Drive Auto Receivables Trust 2010-A. The ratings firm gives Santander Consumer strong marks, saying the company is maintaining the philosophy of ... [ Full Story ]

Nicholas Financial Added to Russell Investment Index -- July 01, 2010
CLEARWATER, Fla. — Nicholas Financial recently announced it has been included on the Russell Microcap Index during Russell Investment's annual reconstitution of its family of U.S. indices, which became effective ... [ Full Story ]

Insurance Salvage Solutions Launches New Locations -- July 01, 2010
JACKSONVILLE, Fla. — Insurance Salvage Solutions, a leading independent insurance salvage auction in Florida, announced the opening of ... [ Full Story ]

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