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Finance and Insurance News
Break the rules? Expect the consequences
Dealerships should document the penalties for violating store policies. If an employee can plead ignorance to the consequences of breaking a rule at a dealership, there's something missing from the compliance standards.
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Serious auto delinquencies reach highest level since 2012

The New York Fed is keeping a close eye on a recent uptick in auto loan originations to borrowers with subprime credit and an increase in delinquencies among younger buyers.


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Retiring F&I Express CEO to assist in transition

Brian Reed, CEO of F&I Express, has retired about four months after Cox Automotive acquired the business. Reed for more than a decade has been an advocate for online car-buying and electronic contracting for F&I products.


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BB&T, SunTrust to merge, creating 6th-biggest U.S. bank

BB&T is buying SunTrust Banks in the world’s largest bank merger in more than a decade, betting that a combination will allow them to keep up with bigger rivals in the arms race for new technology. The combined lender will be among the top three banks ranked by market share in eight states.


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Dealers take a hard look at F&I managers' pay

A drastic pay disparity between F&I managers and their management peers could disrupt the traditional career path and make dealers question the value of the F&I position. Still, slashing or minimizing F&I pay could drive away talent.


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Ally's core business is driving optimism

Since Doug Timmerman took over as Ally Financial's president of auto finance last spring, he's been building relationships with dealers and focusing on the lender's core business: retail and commercial auto finance.


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Cash-strapped customers keep 2018 used-vehicle prices low, Cox says

Used-vehicle loan payments stayed relatively steady in 2018, mostly because of customers' cost restrictions and availability of older vehicles, according to Cox Automotive.


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Why we're tracking interest rates' pulse

When it comes to covering rising interest rates, how much is too much?


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Educating shoppers on credit freezes can smooth in-store transactions

The law requiring credit bureaus to offer consumers free credit report freezes can help prevent fraud, but customers who don't lift the freezes before entering a dealership to buy a vehicle could face longer transaction times.


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Ally's originations rise on used vehicles, fall on new

Ally Financial's used-vehicle originations continued to grow in the fourth quarter, driven in part by loans to Carvana, DriveTime and CarMax customers, while total auto originations fell.


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