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Captives go online to educate consumers

Some captives have put their lease-end education tools online to improve customer satisfaction with an experience that too often leaves consumers with questions.

Wells Fargo nears $1 billion fine for auto loan, mortgage abuse

The settlement with federal regulators, led by the CFPB, is expected to cite Wells Fargo's practice of forcing auto insurance on some customers who took out loans to buy new vehicles.

UPDATED: 4/19/18 2:48 pm ET - adds details
Tim Russi to leave Ally Financial

Tim Russi, the Ally Financial auto finance president who led many digital initiatives and helped expand the lender's dealership reach, is leaving the post, effective...

Will new tech help or hurt residuals?

GM President Dan Ammann thinks new technology doesn't have to hurt a vehicle's residual values, contrary to the generally accepted wisdom -- and here is why.



F&I penetration rises even at luxury stores

F&I penetration on new- and used-vehicle sales grew last year at luxury-brand dealerships, despite the prevalence of leasing among luxury customers, a NADA report shows.

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UPDATED: 4/18/18 12:59 pm ET
U.S. Senate votes to repeal CFPB's auto-lending guidance

A resolution rescinding the Consumer Financial Protection Bureau's auto lending guidance, which aims to limit dealerships' retail margin on loans, passed by a narrow margin in the Senate. It will head to the House floor next for a vote.

CarMax captive's profit rises

Income at CarMax Auto Finance rose 22 percent in the latest quarter, despite a rise in the share of financings where the retailer paid a fee to outside lenders.

U.S. senate panel to repeal CFPB's auto lending rules, chief says

The U.S. Senate Banking Committee plans to repeal the Consumer Financial Protection Bureau's indirect auto lending and leveraged lending rules in coming weeks. The bureau in 2013 sought to limit loan markups and compensation for dealers on auto loans -- specifically on the basis of race, national origin, or credit score.

Captives go online to educate consumers

Some captives have put their lease-end education tools online to improve customer satisfaction with an experience that too often leaves consumers with questions.

Video meetings boost profits

John Eagle Auto Group in Dallas holds monthly video conferences to help F&I staff brainstorm ways to improve profits at its 12 Texas dealerships.

Early credit awareness will improve car-buying process

Most millennials and baby boomers say they understand their credit scores' influence on vehicle financing, according to an Equifax survey. Still, dealerships, lenders and credit bureaus should take more initiative to educate consumers before they visit the dealership, Equifax experts say.

BMW launches U.S. subscription pilot

BMW, joining the list of automakers exploring the business case for vehicle subscription services, will launch its first pilot program in the United States at a Sonic Automotive store in Nashville.


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