Brittany-Marie Swanson
Associate Editor
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The NIADA, its newly-formed BHPH Commission and Oregon’s independent dealer association are tackling legislation the industry believes could damage the ability of high-risk consumers to purchase cars in the state.
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The New York City Department of Consumer Affairs announced a new car loan initiative this month, which would direct subprime car buyers away from dealership financing to loans provided directly by banks and credit unions.
Read More →SMART Payment Plan was ordered to wind down its business in Texas for operating without the proper state license since 2009. The biweekly payment provider can reapply for the license in 12 months.
Read More →CFPB Director Richard Cordray fielded questions about dealer compliance programs and a recent study calling out the bureau’s methods for determining discrimination during a semi-annual report to Congress earlier this month.
Read More →The lead provider calls Bellavia Blatt & Crossett’s mass action suit challenging its business practices “meritless.”
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The law firm of Bellavia Blatt & Crossett has filed a mass action lawsuit against TrueCar, claiming that the lead provider’s business practices constitute false advertising.
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The explosion in smartphone usage among car shoppers put phone leads ahead of Internet leads at the close of 2014, a trend reflected in the deluge of mobile-ready offerings lining the aisles at NADA 2015.
Read More →Consumer Portfolio Services CEO Charles Bradley laid out the lender’s compliance efforts during a quarterly earnings call last week. The finance source’s subprime lending activities are currently being investigated by Department of Justice.
Read More →Fourth-quarter F&I net per vehicle retailed rose $30 from a year ago to $1,374 for the public dealer group. That performance helped drive record earnings during the quarter.
Read More →Penske Automotive Group realized a 16% increase in revenue and a 14% bump in adjusted income from continuing operations in 2014’s fourth quarter. The dealer group’s CEO also discussed its plan to pilot the NADA’s fair credit compliance program at four stores.
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