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The Consumer Financial Protection Bureau has doubled down on adverse action requirements for lenders using AI-based underwriting with new guidance, marking a shift in tone from its previous guidance in 2022. A CFPB blog post Tuesday echoed guidance issued in 2022, but largely focused on adverse action notices’ accuracy and specificity requirements, Brian Fink, partner […]
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Extra-long car loans can lower consumers’ monthly payments, but they also keep dealers from selling vehicles to those customers for...
Alternative asset management firm Bayview Asset Management in the past five years has purchased about $25 billion in auto collateral through bulk...
Luxury vehicle dealerships are fighting a rapidly growing scam in which fraudsters impersonate delivery companies to steal vehicles. Kalamazoo, Mich.-based...
Auto lenders are looking to strengthen relationships to bolster dealer profitability amid uncertainty, margin compression and shifting consumer behavior. Auto financier Santander Bank’s dealer commercial services strategy focuses on...
David Thompson
David Thompson
David Thompson
