Blowing It Up
Why subprime auto lenders fail
Over the years, many of my articles have dealt with debunking journalist’s hit-jobs on the subprime auto finance industry. Auto...
Preventing Performance Shocks
In the fourth quarter of 2022, many auto lenders were surprised by elevated levels of delinquency and charge-off that have continued through the first...
Can Theory Be a Substitute for Evidence? The CFPB and ‘Unfair’ Subprime Auto Credit
When I was a young attorney at the Federal Trade Commission, the FTC's Bureau of Competition was bogged down with some massive antitrust litigation...
Embracing a Big Picture View of Credit Risk
The third quarter of 2022 concluded with numerous signs suggesting negative economic headwinds are upon us. The Wall Street Journal reported on October 23...
Back Page Language Developments – The Holder in Due Course Rule
A number of years ago I was contacted by an official of the FTC and he wanted to see the various Retail Installment Sale...
Weathering this Storm and the Next – Three Tips for Auto Lenders
With a series of crises that don’t seem to be letting up — from waves of COVID to economic downturns and inflation to geopolitical...
CFPB Data Point Studies Sub-prime Financing Rates and Default Risks Across Creditor Types
Every creditor with sub-prime customers has experienced—on one occasion or another, we expect—someone judging it unfavorably for allegedly taking advantage of consumers by charging...
Best Practices for Winning Borrowers (Despite Supply Chain Mayhem)
The coronavirus crisis has led to another crisis — major auto supply chain disruptions around the world. Shuttered workplaces and tightened exports, along with...
Navigating the Credit Cycle
Playing the next stage
There is a common misconception that the credit cycle is this perfectly symmetrical sine wave, where credit continuously ramps up, blows...
Are There Pandemic Pitfalls in your Data?
Every year, there are several executive surveys conducted by organizations that produce the primary auto finance conferences. As we emerge from the current crisis,...