Brittany-Marie Swanson
Associate Editor
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The House passed an amendment Wednesday that would bar the Department of Justice from using funds for litigation in which the regulator seeks to apply the disparate impact theory.
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More than 50 members of Congress have signed a letter urging the CFPB to issue new rules to eliminate the use of forced arbitration clauses in consumer financial service contracts.
Read More →The enforcement division of the Texas DMV has closed its case against CarGurus after the vehicle-shopping site made revisions to its used-car advertisements. In April, the department threatened enforcement actions because of the way the site listed used vehicles for sale.
Read More →Sonic executives said that until the group perfects its vehicle-pricing tool, the One Sonic-One Experience initiative will not expand beyond the five stores currently employing the program's hybrid sales and F&I process.
Read More →The Texas Department of Motor Vehicles Enforcement Division has pulled back on its plan to fine dealers with listings on CarGurus.com after the department and the shopping site discussed revisions to CarGurus’ advertising practices in a call yesterday.
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Last week, the Texas Department of Motor Vehicles Enforcement Division issued a cease-and-desist letter to CarGurus and the state’s dealer association, threatening dealers with fines up to $10,000 a day if the shopping site does not revise its advertising practices.
Read More →Credit unions are competing aggressively in the automotive marketplace, financing one in four auto loans so far in 2015, CU Direct reports.
Read More →For the first time, the public dealer group’s F&I profit per deal average surpassed the $1,500 mark. Officials said the company will continue to emphasize F&I product sales as it preps for the launch of an AutoNation-branded maintenance contract later this year.
Read More →The tablet-driven, fixed-price F&I process at Asbury’s Q Auto stores didn’t perform as well as the traditional F&I process employed at the group's core stores, but officials said they are happy with the new format’s progress.
Read More →The country’s largest auto lender, Wells Fargo, tempered its auto lending activities in 2015’s first quarter, with new originations down 10% from the previous year. Also reporting was J.P. Morgan Chase, which increased originations by 9%.
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