Financial News

Consumer Portfolio Services Inc. announced earnings of $3.1 million for the first quarter. This compares to net income of $4.5 million in the first quarter of 2017. Revenues for the…
Ally Financial Inc. announced key leadership changes to its auto finance team. Doug Timmerman has been named president of auto finance. Timmerman brings more than 30 years of auto finance…
Consumer Portfolio Services Inc. announced the closing of its second term securitization this year. The transaction is CPS's 28th senior subordinate securitization since the beginning of 2011 and the 11th…
After proving its value with auto finance, FICO is rolling out its Alternative Deal Structure (ADS) to other forms of credit. The auto finance solution allows for the integration of…
Dealers and creditors are cheering the possible repeal of the Consumer Financial Protection Bureau’s auto financing guidance. The Senate approved legislation March 19 offered by Senators Pat Toomey (R-Pa.) and…
Auto finance made up a majority of charge-offs for Community Trust Bancorp Inc. The Pikeville, Ky.-based bank reported $1.2 million of charge-offs in indirect auto finance in the first quarter.…
Auto finance default rates continue to remain stable. S&P Dow Jones Indices and Experian report that the auto finance default rate fell to 1.05 percent from 1.09 percent in February.…
APCO Holdings, home of the EasyCare, GWC Warranty, Covideo, and Savy brands, has named David Vickers as the company's new chief financial officer. Vickers brings 35 years of experience in…
Ally Financial Inc. and Fair announced a strategic relationship in which Fair will use Ally's SmartAuction as a remarketing solution for its returned cars, and offer consumers flexible car financing…

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