Finance & Insurance

Finance-and-insurance profits surged in the third quarter for all six publicly traded retailers as consumer demand and short supply pushed up pricing on new- and used-vehicle sales. In a record-setting quarter amid the coronavirus pandemic, all six retailers raised same-store F&I profits by more than $ 100. Several public groups …

DETROIT — Ford Credit posted a $ 1.1 billion profit in the third quarter, up 53 percent from the same period a year earlier as strong auction values helped the lender to its best results since 2005. Ford Motor Co.’s finance arm, which CEO Jim Farley called a “secret weapon,” …

Consumer demand and short supply pushed up pricing on new- and used-vehicle sales, spurring third-quarter profits for all six publicly traded finance-and-insurance retailers. In a record-setting quarter amid the coronavirus pandemic, all six retailers raised same-store F&I profits by more than $ 100. Several public groups reported record-high F&I profit …

The Consumer Financial Protection Bureau last week issued a final ruling on what constitutes fair debt collection behavior when communicating with consumers and outlined what is prohibited under that definition. While lenders aren’t third-party debt collectors, American Financial Services Association leaders voiced concerns this year that its membership could end …

The last few months have pushed forward the adoption of digital selling, lending and servicing solutions at breakneck speed — and consumers are happy with the changes. However, with great digital services comes great responsibility to ensure that fraud doesn’t grow to an even bigger problem. The shift to digital …

Automating the credit approval process for customers with less than perfect payment histories remains a challenge even as the U.S. auto retail industry allows more of the vehicle transaction online. Lithia Motors has a possible solution — tapping into its finance and insurance talent to aid online shoppers. The rollout …

Three factors will be pivotal in shaping the automotive industry’s trajectory, according to Cox Automotive Chief Economist Jonathan Smoke: the spread of COVID-19 and a potential vaccine; the size and timing of an additional round of government stimulus; and the outcome of the 2020 election. But perhaps the most important …

Chase Auto is extending its relationship with Subaru as its primary auto lending partner, both companies said Monday. Per the agreement, Chase will finance loans and leases for the automaker and is the banking partner through which the manufacturer disseminates customer incentives. The agreement also provides support to more than …

Two of the three major auto lenders posted significant increases in auto loan originations in the third quarter and cited improved customer demand and credit metrics in their results. But all three lenders signaled concern that without further government stimulus, consumer auto loan performance could suffer. Auto loan originations surged …