Marcie Belles's Blog – January 2012 Archive (5)

Standing Firm

A year ago, Valley National Bank said it wouldn’t cave to irrational pricing. Apparently, the bank has stood its ground.

The bank’s loan portfolio dropped 9% last year ― to $772.5 million from $850.8 million ― in part, because of competition. From the Wayne, N.J. bank’s…

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Added by Marcie Belles on January 26, 2012 at 1:03pm — 2 Comments

Think about these statistics: Facebook has more than 800 million active users. Couple that exposure with information about people in the market for a car, and you have the ultimate auto finance lead generator. In fact, maybe Facebook could get a lending license and offer the loans itself.

In a recent report, consultancy Gartner predicted that social media sites may try to create revenue streams by offering insurance and financial services.

"Offering insurance products to their…

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Added by Marcie Belles on January 13, 2012 at 1:23pm — 5 Comments

Take the AutoFinanceNews.net 2012 Car-Sales Crystal Ball Challenge

I think it’s safe to breathe a sigh of relief when it comes to new-vehicle sales. Volume has been gaining traction for two straight years, and all indications point to additional growth in 2012.

Overall, volume was pretty steady last year, with totals surpassing the one-million mark in nine of the 12 months. At 1,243,965 units, December was the year’s second-strongest month, falling shy of the 1,235,006 volume notched in March.

Last year’s SAAR came in at 12.7 million units, up…

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Added by Marcie Belles on January 5, 2012 at 1:30pm — 9 Comments

Obama Sidesteps Vote with Recess Appointment of Cordray

Almost six months after nominating Richard Cordray, Pres. Barack Obama plans to bypass a Senate vote and use a recess appointment to install the former Ohio Attorney General as head of the Consumer Financial Protection Bureau.

The move is meant to sidestep the regulatory wrangling that’s been going on for months. In December, Senate Republicans blocked the Cordray appointment. Their contention: The power of the CFPB should not rest in the hands of a single director.

Senate…

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Added by Marcie Belles on January 4, 2012 at 11:00am — 1 Comment

Invitation to Participate in the Auto Finance Forecast 2012

Three times a year AutoFinanceNews.net and sister publication Auto Finance News conduct the Auto Finance Forecast, which gauges activities and sentiments in the automotive lending and leasing market. How much will originations grow this year? Which direction are delinquencies headed? Are profits on track to climb?

Complete the short survey by Jan. 6 and you'll be entered into a drawing for a $50 giftcard to Amazon.com.…

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Added by Marcie Belles on January 3, 2012 at 2:00pm — No Comments