Recent News

Magna CEO in a shopping mood in post-Stronach era

Magna International, the largest auto supplier in North America, will consider purchases of as much as $4 billion as it distances itself from debt-averse founder Frank Stronach. ... Read More »

2 Japanese suppliers fined in China’s antitrust crackdown

China's antitrust regulator fined Japanese bearing makers NSK Ltd. and NTN Corp. a combined 4.8 billion yen ($47 million) for violating rules in a probe into industry pricing practices. ... Read More »

AFIP Extends Pre-Summit Boot Camp Discount

COLLEYVILLE, Texas — The Association of Finance & Insurance Professionals (AFIP) is extending its $100 discount off pre-Summit certification Boot Camp registration through August 22.The two-day intensive training session, slated for Sunday, Sept. 7, and...

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Treasury Plans to Sell Additional Ally Common Stock

WASHINGTON — Last week, the U.S. Department of the Treasury announced that it would continue to wind down its investment in Ally Financial by selling additional shares of common stock through its first pre-defined written trading plan. The Treasury currently...

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California on Track to Sell 1.8 million New Units in 2014

SACRAMENTO, Calif. — New-vehicle registrations in the state continued to improve during the first half of 2014 vs. 2013, according to a report from the California New Car Dealers Association (CNCDA). With an increase of 7.3% this year, California’s...

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Wise F&I Integrates With VisionMenu

ST. LOUIS — Wise F&I has announced electronic integration with VisionMenu. VisionMenu supports streamlined eContracting during the menu-driven selling process to make it easier and more efficient, officials said.The integration will provide dealers access...

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Westlake Financial Reaches $2 Billion Milestone

LOS ANGELES — Westlake Financial Services has reached a significant milestone of $2 billion in total receivables with more than 270,000 customer accounts. The achievement was met in July 2014, which was the best production for July in Westlake history.“Having...

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N.Y. Dealer to Pay $27K for Bogus Customer Fees

KINGSTON, N.Y. — Attorney General Eric T. Schneiderman reached a settlement Monday with Prestige Toyota, which was adding an improper $650 “processing fee” to the purchase price of leased vehicles bought by customers at the end of their leases.No...

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FTC Approves Final Orders Settling Charges Against Fandango and Credit Karma

Following a public comment period, the Federal Trade Commission has approved final orders settling charges against Fandango, Inc. and Credit Karma, Inc. According to the FTC’s complaints, the companies’ mobile apps left consumers’ sensitive personal information,...

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Ford begins testing first right-hand-drive Mustang

Ford has begun testing the first prototype of the right-hand-drive Mustang pony car. Ford said its engineers recently finished building the handmade prototype, which will be used in various developmental tests in coming months. ... Read More »