Archive | Auto Industry News

Pew: CFPB Small-Dollar Rule ‘Would Not Adequately Protect Borrowers’

WASHINGTON, D.C. — The Consumer Financial Protection Bureau’s proposed small-dollar lending rule would neither not adequately protect borrowers, nor address the risks created by the shift toward installment credit in the payday and auto title lending market, a new analysis concludes. Conducted by Pew Charitable Trusts, the analysis outlines the reasons for the shift to … Read More »

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J.D. Power: Speed No Longer Top Consideration When Selecting Finance Sources

DETROIT — When it comes to choosing lender partners, dealers value the type of relationship they have with their finance sources over the speed of their services, according to J.D. Power’s 2016 U.S. Dealer Financing Satisfaction Study. Jim Houston, senior director of the automotive finance practice at J.D. Power, said finance sources need to shift from … Read More »

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IT Firm Launches Specialized Services Aimed at Dealerships

ALTOONA, Pa. — United Datacom Networks Inc. (UDNI) announced the launch of Dealers Edge, a new IT support program designed to help dealers meet their legal obligations with respect to data privacy and security. Services include remote management and 24/7 monitoring. “The core elements of the program are centered on maximizing existing technology, lowering costs, … Read More »

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J.D. Power Appoints New Senior Director of Auto Finance

DETROIT — J.D. Power has appointed Jim Houston as senior director of its auto finance practice. In his new role, Houston will use his 30-year experience in auto finance to help guide the industry through a potentially volatile period of new-vehicle sales and declining used-car values, the company said. “I’m very excited to be joining … Read More »

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103 Lawmakers Call on CFPB to Eliminate Mandatory Arbitration

WASHINGTON, D.C. — On Wednesday, more than 100 members of Congress called on the Consumer Financial Protection Bureau (CFPB) to proceed with its effort to eliminate forced arbitration. In two separate letters, 103 members of the House of Representatives and U.S. Senatepraised CFPB Director Richard Cordray for his agency’s proposed rule prohibiting mandatory arbitration clauses in finance contracts. … Read More »

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Update Your Headshot at Compliance Summit

LAS VEGAS — Organizers of the upcoming Compliance Summit have announced that Automotive Compliance Education (ACE) will be offering free headshot photography to every attendee. The event will be held Aug. 29–30, 2016, at Paris Las Vegas, co-located with the annual Industry Summit. “Given the number of selfies and out-of-date photos I see on LinkedIn and business … Read More »

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