Finance & Insurance

The Consumer Financial Protection Bureau received more complaints about auto loans in the first five months of the pandemic than in any other five-month period since the bureau began tracking the data in its current form starting in April 2017, according to a new report by the U.S. Public Interest …

DETROIT — Ally Financial Inc.’s net income surged in the third quarter as the lender generated its highest level of auto loan and lease originations in five years. The Detroit company reported net income of $ 476 million in the third quarter, a 25 percent increase from last year’s third …

The American Financial Services Association’s annual Vehicle Finance Conference and Expo will go virtual for 2021, mirroring the decision of the National Automobile Dealers Association this week. NADA said it plans to move its annual event to February amid uncertainty surrounding the coronavirus pandemic. The American Financial Services Association, the …

Unprecedented times brought on by the coronavirus pandemic called for unprecedented support. As the positive impacts of the stimulus fade, the automotive finance industry — among others — is calling for another round. The swift actions taken at the onset of the pandemic through the passage of the CARES Act …

Dealerships have operated at varying capacities amid the coronavirus pandemic, with some locations restricting vehicle sales to online only and others opening showrooms for customers. Regardless, customers spent more time online to execute a car purchase and completed more of the finance and insurance process online than ever before. Customer …

Repossession activity slowed this spring as the coronavirus pandemic raged across the U.S., with several state governors declaring the practice nonessential in much of the country. As repossessions resumed, however, auto lenders likely benefited from boosts in used-vehicle values. That’s because, aftermarket experts say, flipping cars for higher values this …

As millions of Americans enter month seven (or more) of work-from-home, many companies across industries are rethinking what the work day could, or should, look like. In the automotive sector, a leading finance-and-insurance company is looking to expand the practice of its employees working remotely. Many players in the automotive …

Ford and Lincoln customers can now receive quotes for usage-based car insurance from Ford Motor Co. websites through the automaker’s Ford Insure and Lincoln Motor Co. Insure programs. Ford Insure, a product created by Ford Motor Credit Co., leverages information about consumers’ driving habits into discounts on auto insurance. The …

Ally Financial Inc., one of the largest U.S. auto lenders, has asked the U.S. Supreme Court to dissolve the class-action status of a lawsuit stemming from a repossession that, if allowed to proceed, could result in significant damages to the company. Additionally, legal experts say the case could have far-reaching …