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H.R. 1737 (The Reforming CFPB Indirect Auto Financing Guidance Act), which was passed by the U.S. House of Representatives on November 18, 2015, has been referred to the Senate Committee on Banking, Housing and Urban Affairs.The legislation would revoke the U.S. Consumer Financial Protection Bureau’s (CFPB) 2013 auto...

The House Financial Services Committee released a report (Unsafe at Any Bureaucracy: CFPB Junk Science and Indirect Auto Lending) on November 24, 2015, that calls into question the statistical method utilized by the Consumer Financial Protection Bureau (CFPB) to allege racial discrimination in auto lending. According to internal...

The National Highway Traffic Safety Administration (NHTSA) recently released its Fatal Analysis Reporting System figures for 2014, which show that traffic fatalities fell to a record low of 1.07 deaths per 100 million vehicle miles traveled. A total of 32,675 people died in motor vehicle crashes nationwide last...

For those who are active in social media, NJ CAR will be increasing its use of social media in order to provide members, colleagues and other contacts with more ways to receive information and communicate with NJ CAR.We invite anyone with a Facebook account to “LIKE” NJ CAR...

According to TransUnion, consumers now owe $1 trillion on their car loans, the first time the threshold has ever been broken. The loan balances have been driven up by a combination of three factors—strong car sales, rising car prices and low (and competitive) interest rates. In fact, borrowers...

Following the best October auto sales since 2001, the industry is on pace to sell the most new cars and trucks ever in a single year, and break the all-time record of 17.41 million vehicles set in 2000. According to Autodata Corp., 1.46 million new cars and trucks...