CFPB Wants More Auto Oversight Authority

CFPB Wants More Auto Oversight Authority WASHINGTON, D.C. — If a finance company makes, acquires, or refinances 10,000 or more vehicle loans or leases in a year, the Consumer Financial Protection Bureau is looking to become that operation’s primary regulator stemming from a proposal released late on Wednesday. The bureau said this proposed rule would … Read more

US Treasury Reduces Ally Stake to 13.8%

WASHINGTON, D.C. — The U.S. Department of the Treasury’s ownership in Ally Financial continues to shrink. Treasury officials on Friday announced the completion of the first pre-defined written trading plan for Ally common stock. The Treasury said it sold 8,890,000 shares and recovered approximately $218.7 million for taxpayers.   Don’t miss the upcoming BHPH Bootcamp … Read more

Congresswoman Maxine Waters Proposes Sweeping Changes to FCR

WASHINGTON, D.C. – Citing the countless Americans who have experienced heartbreak, frustration and devastation as a result of incomplete or erroneous information on their credit reports, today Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, released a proposal that would make sweeping reforms to our nation’s consumer reporting system. The draft proposal, entitled … Read more

NABD Buy Here Pay Here Boot Camp Nov 8-9 2014

NABD Buy Here Pay Here Boot Camp Nov 8-9 2014 Be Sure to register for the Nov 8-9 2014 BHPH Boot Camp in Charlotte, NC. CALL 832-767-4759 FOR MORE INFORMATION HANDS-ON TRAINING at a premiere BHPH operation in Charlotte, NC One-on-One Consultation | Comprehensive Procedures Manual Employee Handbook | Projection Software Visit BHPHINFO.COM for more … Read more

Credit Acceptance Corp. Extends Warehouse Facility

Credit Acceptance Corporation, or CAC, said on June 23 that it had extended the maturity of its credit facility with a commercial bank syndicate by another year, from June 23, 2016 to June 23, 2017. Bank of America Corp. and RBS Citizens make up the syndicate.   Are you looking for Bulk BHPH Auto Note … Read more

Suit Alleges, Recalls Diminished GM Model Values

It’s not yet clear if a new class-action lawsuit against General Motors Co. will impact the car company’s overall loan valuations, including those loans that have been securitized in the capital markets. A California consumer filed the suit today on behalf of all similarly impacted consumers, saying the General Motors Company should compensate millions of … Read more

NABD is offering hands-on training

NABD is offering hands-on training at a BHPH car lot in Charlotte, NC, August 2-3 2014. Learn first-hand all of the key financial & operational aspects of running a successful BHPH operation, and let the BHPH “Best Practices” you learn increase your profits! Contact NABD at 832-767-4759. Watch YouTube Video For More Info:   … Read more

NIADA Convention June 23-26th Las Vegas

  Attend NIADA’s 68th Convention & Expo June 23-26th at Caesars Palace in Las Vegas NIADA will host interactive panels made up of Industry leaders, Regulators, and other Independent dealers to provide insight and real world solutions for topics affecting Retail AND Buy Here Pay Here dealers, such as access to capital, collections, marketing, service … Read more

Honda and Mercedes-Benz Lead ALG’s Brand Perception of Quality

Brand perception now plays a vital role in new vehicle sales growth and used vehicle value retention. Honda and Mercedes-Benz deliver the highest quality vehicles, according to ALG’s Brand Perception of Quality (BPQ) study. Honda had the highest Mainstream brand ratings, followed by Toyota and Volkswagen. Mercedes-Benz led Premium brands, followed by Lexus and BMW. … Read more

FTC Fines CPS $5.5 Million

WASHINGTON, D.C., and IRVINE, Calif. – The Federal Trade Commission said Thursday that Consumer Portfolio Services will pay more than $5.5 million to settle charges that the subprime auto finance company used “illegal tactics” to service and collect consumers’ loans, including collecting money consumers did not owe, harassing consumers and third parties, and disclosing debts … Read more