Recent News

February Lease Credit Approvals Up 11% From Last Year

CINCINNATI — Lease credit approvals during the month of February were at 66.6%, down from the 70.5% level in January and 73.3% level in December of 2013, according to data from Swapalease.com. February’s rate was the lowest since September of 2013,...

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CFPB is ‘Least Accountable’ Federal Agency, Lawmaker Charges

WASHINGTON — In honor of Sunshine Week, a nationwide initiative to promote government transparency, House Financial Services Committee Chairman Jeb Hensarling (R-Texas) issued a statement that called on the Consumer Financial Protection Bureau (CFPB) to be...

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Allstate President Resigns

JACKSONVILLE, Fla. — Douglas Herberger stepped down this week as president of Allstate Dealer Services, the company confirmed via email on Wednesday. He joined the company four years and brought with him sweeping changes.“Doug Herberger has announced...

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CFPB is ‘Least Accountable’ Federal Agency, Lawmaker Charges

WASHINGTON — In honor of Sunshine Week, a nationwide initiative to promote government transparency, House Financial Services Committee Chairman Jeb Hensarling (R-Texas) issued a statement that called on the Consumer Financial Protection Bureau (CFPB) to be...

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Evergreen Bank Moves to Flat Fees Due to Regulatory Pressures

CHICAGO — Evergreen Bank Group became one of the first finance sources to adopt a flat-fee compensation model due to regulatory pressures. In a statement issued on March 4, the finance source said it eliminated discretionary pricing options for dealerships.The...

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Presidio founder to head automotive practice

Presidio, a key player in the buying and selling of auto dealerships in the United States, last week named a new head of its automotive investment banking practice after the recent departure of the practice's former leaders. ... Read More »

Musk touts Tesla video ad made by recent college grads for $1,500

Tesla Motors doesn't spend a dime on paid advertising, but a group of recent college graduates decided to make a video spot for the electric car company anyway -- much to the delight of CEO Elon Musk. ... Read More »

How To Submit Your Alternative Scoring Questions During FTC Workshop

The Federal Trade Commission is hosting a seminar on alternative scoring products in Washington, D.C., on March 19, 2014, and invites webcast viewers to submit questions online. Staff will live-tweet the seminar, and take questions via Twitter, Facebook, and email. The...

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FTC Staff Advises Massachusetts Department of Public Utilities On Dynamic Pricing Proposal for Residential Electricity Customers

The Federal Trade Commission staff submitted a comment in response to a request from the Commonwealth of Massachusetts Department of Public Utilities (Mass. DPU) for comments on its investigation of dynamic pricing for residential electricity customers. Dynamic...

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Survey: Bankers Preparing for Higher Credit Losses

RALEIGH, N.C. — U.S. banks and credit unions, preparing for proposed changes to how they must estimate credit losses, anticipate they’ll eventually need to boost allowances for loan and lease losses by up to 50%, according to a new survey by Sageworks,...

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