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Working poor drivers struggle to find affordable old used cars

The seeds of the problem are buried deep in the financial crisis, when in the midst of the worst economic downturn since the Great Depression, automakers slashed production. A decade later, that has made a relative rarity of used 10-year-old vehicles that are typically more affordable for low-wage earners.

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Synthetic identity fraud slows in auto lending, TransUnion says

Finance companies that are increasingly adopting anti-fraud products are slowly reducing the rate of new fraudulent loans.

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Moving F&I online pushes software, product providers to web

F&I software companies are partnering up, while F&I product companies are exploring ways to provide consumer-facing content for the first time.

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Fraud tools keep tabs on mobile devices, laptops

As mobile devices increasingly become launching points for auto lending, software and other means to detect and monitor fraud are keeping pace with changing customer tools.

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Integration with RouteOne brings Fair subscriptions into the F&I office

A new division of the company, called Fair Indirect, will facilitate subscriptions using the same platform dealerships use to get customers traditional loans or leases.

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To prevent chargebacks, lenders should vet F&I products

Monitoring existing and emerging F&I products from the coverage to the cancellation process should be an integral part of a lender's risk management program.

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No regulation by enforcement, CFPB chief tells NIADA

Kathy Kraninger, head of the Consumer Financial Protection Bureau, told attendees at the National Independent Automobile Dealers Association's National Policy Conference the agency has no plans to regulate by enforcement, and she addressed changes to the bureau's complaint database, both key concerns for auto lenders.

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Bill banning forced arbitration clears U.S. House

Consumer advocates have pushed for the end of mandatory arbitration in contracts, which can shield companies from lawsuits by consumers pursuing claims of wrongdoing. But the so-called FAIR Act faces an uphill battle in the Senate.

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Even small interest-rate cuts help, retailers say

Auto analysts say reductions in the Federal Reserve's benchmark interest rate are unlikely to move the needle much for car shoppers this year, but some car dealers disagree.

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One-touch system points at possibilities

Some dealerships that experimented with one-touch hybrid sales and F&I managers over the years ended up going back to separating the roles, saying the change ultimately dragged out the process for customers and cost them thousands in profit.

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