In our daily 24/7 news cycle, perspective can be fleeting. We fail to consider the ebb and flow of events, especially anything with political overtones. Although the world of finance prefers consistency, the one thing we can count on is change. Lately, the topic of compliance has been buffeted by change. From regulation to deregulation, the various local, state, and … [Read more...] about What the Auto Finance Industry Can Learn From the Lessons of History
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Why Dealers Are Riding High on the Credit Union Wave
Credit union lending’s prevailing strength is filling the profit sail for increasing numbers of auto dealers. Data shows credit unions provide aggressively competitive rates that ensure deals with deep product penetration, and have little cancellation risk. Credit unions have become a valued partner for dealers, providing excellent locations to go to get paper bought, and … [Read more...] about Why Dealers Are Riding High on the Credit Union Wave
How Military Lending Act Rule Changes Will Affect Dealers
At the end of 2017, the Department of Defense (DOD) issued a new interpretation of the Military Lending Act Rule (MLAR). If you are unfamiliar with this rule, it contains an exemption for credit, which is expressly extended for the purchase of a motor vehicle or personal property. When the rule was issued, there was confusion concerning whether the inclusion of an ancillary … [Read more...] about How Military Lending Act Rule Changes Will Affect Dealers