What’s Needed to Truly Establish a Digital Presence for Auto Dealers, Lenders and OEMs
The auto industry has been laser-focused on digitizing the retail shopping experience for several years, especially since the pandemic in 2020. However, the right...
How AI Technology Helps Auto Dealers and Lenders Reduce Bias in Auto Loans
Bias in auto lending occurs when an automotive dealer and lender make decisions related to a loan and denies credit or imposes “non-standard” terms...
CFPB’s Summer Supervisory Highlights – A Cornucopia; There’s Something for Everyone
The Consumer Financial Protection Bureau (CFPB) recently issued its Supervisory Highlights for Summer 2023 in connection with examinations they completed from July 1, 2022,...
CFPB Issues Market-Monitoring Orders in Auto Finance Data Pilot
The Consumer Financial Protection Bureau recently issued market-monitoring orders to nine large auto creditors to provide information about their auto "lending" portfolios.
The nine auto...
How End-of-Year-Sales May Impact Auto Finance Digital Transformation Strategies
Following a challenging sales environment in 2022, a noticeable recovery in the automotive sector has stabilized in 2023. This year, even as supply chain...
Unlocking Insights: The Power of the Non-Prime Automotive Financing Survey Report
In today's rapidly evolving landscape, information is not just power, it's a strategic advantage. We are excited to present our latest survey report that...
CFPB Files Lawsuit Against BHPH Auto Servicer
Hold onto your hats, folks—it's getting rough out there! Citing the increased cost of vehicles and more credit needed to pay for them, the...
The CFPB and the Quaint Notion of Caveat Emptor – Bankers Beware!
Doing Business – Horse Trading and Lending Money
People selling or exchanging things to other people is as old as the hills, Buyers and sellers...
Where Auto Retailers and Lenders are Still Finding Barriers in Adopting more Digitized Back-office...
Customers want simplified digital purchasing experiences today, and many automotive retailers, lenders and OEMs have been aggressively building consumer-facing web ecosystems to suit their...
Where Auto Lenders are Already Seeing the Benefits of Artificial Intelligence Outside of ChatGPT
The loan application process has been greatly improved using machine learning (ML) and artificial intelligence (AI) tools. These tools enable auto lenders to make...
Organized Crime – Exploiting the Gaps in the Credit Process
Organized crime rings are heeding to the shift, looking for ways to maximize their overall operations without being prosecuted for their illegal activities. Long...
Police Arrest Shop Owner Who Refused to Surrender Vehicle
Some repair shops seem to ignore the law with impunity. We recently sought the assistance of law enforcement when a shop owner refused to...
