Tag Archives: Banking and lending

Automakers’ lending practices probed by U.S. agencies for bias

September 24, 2013   admin

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The Consumer Financial Protection Bureau and the Department of Justice are examining the lending operations of major auto manufacturers for possible discrimination in lending, according to regulatory filings and three people briefed on the inquiry.

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Ohio AG sues used car dealer, says it didn’t deliver titles

September 11, 2013   Guest Author

Ohio Attorney General Mike DeWine has filed a lawsuit against a used car dealership that has gone out of business, saying that it failed to deliver titles to customers who bought used vehicles.

The Newark Advocate newspaper reported that the dealership closed about Feb. 1.

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U.S. auto repossession rate dropped to new lows in Q2

August 15, 2013   Guest Author

U.S. auto repossession rate dropped to new lows in Q2

Car buyers in the United States got better at keeping current with their loan payments in the second quarter, a report today by Experian Automotive said.

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More car buyers are upside down, but that’s OK, J.D. Power says

June 10, 2013   Guest Author

The average amount of negative equity in an existing auto loan is about $3,600, Power Information Network says.

The percent of buyers with negative equity has been creeping higher since 2011. But that’s not entirely bad news for retailers because it indicates customers with lower credit scores are getting financed, Power Information Network says.

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