Finance, Credit and Loan Information

July, 2015

Regulators Keep Their Feet on the Gas in Actions Against Auto Lenders; NY AG …

Why it matters The automotive industry is continuing to face heavy scrutiny from regulators. On the heels of a Federal Trade Commission operation and new oversight from the Consumer Financial Protection Bureau, the New York Attorney Generals Office announced a deal with three auto dealers in the state totaling almost $14 million. AG Eric Schneiderman […]

Welcome home: Tim McGraw awards mortgage-free houses to military veterans

comment () Country superstar Tim McGraw continues to make military veterans feel at home in a spectacular way: by awarding them and their families mortgage-free houses.

Feds settle with Honda in auto loan racial discrimination case

“We recognize that dealerships perform a valuable service in connecting customers with lenders and that they should be fairly compensated for that service, Gupta continued. We believe that Honda’s new compensation system balances fair compensation for dealers and fair lending for consumers.  We hope that Honda’s leadership will spur the rest of the industry to […]

Five Ways That Dodd-Frank Has Shaped Banking – American Banker

Bloomberg News The Creation and Oversight of the CFPB Love it or hate it, the creation of the Consumer Financial Protection Bureau has altered the face of banking. The consumer agency directly examines banks with more than $10 billion of assets and has finalized rules governing mortgage underwriting, disclosures and overdraft. Under Director Richard Cordray, […]

MAS initiatives to help Singaporeans manage their finances better – Channel …

SINGAPORE: The Monetary Authority of Singapore (MAS) recorded profits of S$281 million in the financial year ended in March, compared to S$15.8 billion in the previous financial year. MAS said the drop is on the back of negative currency translation effects, as the strengthening of the Singapore dollar against the euro and yen more than […]

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Paul Obaugh Ford Obaugh Ford in Staunton, VA, also serving Waynesboro, VA and Lexington, VA is proud to be an automotive leader in our area. Since opening our doors, Obaugh Ford has kept a firm commitment to our customers. We offer a wide selection of vehicles and hope to make the car buying process as […]

FactorTrust Launches LendProtect Auto Score

There are more than 50 million non-prime consumers in the US who do not choose to use traditional credit opportunities due to convenience, lack of credit history or lack of a relationship with a credit provider. However, it is estimated that this same population of people can increase their income by as much as 25 […]

54 House Dems Buck Obama Admin On Auto Loan Bias Suits –

After extracting $180 million from Honda (NYSE:HMC), Ally Financial (NYSE:ALLY) and other auto lenders to settle racial discrimination charges, the Obama administration has set its sights on reordering the auto finance industry. But even many Democrats think that its attacking a phantom foe and will end up hurting car buyers. More than 50 Democratic lawmakers […]

CyrusOne Announces Closing of Cervalis Acquisition

DALLAS–(BUSINESS WIRE)–CyrusOne Inc. (“CyrusOne”) (NASDAQ:CONE) announced today that it has closed the previously announced acquisition of Cervalis Holdings LLC (“Cervalis”), a privately-held operator of four data center facilities and two work area recovery facilities (collectively, the “Facilities”) serving the New York metropolitan area. The transaction expands CyrusOne’s existing portfolio to 31 data centers across 12 distinct […]

Honda to pay $24 million for discriminatory auto loans

On Tuesday, the Consumer Financial Protection Bureau (CFPB) and Department of Justice (DOJ) delivered a resolution to American Honda Finance Corporation, an arm of Honda Motor Company, for violation of the Equal Credit Opportunity Act. Honda Finance was found guilty of overcharging African-American, Hispanic, and Asian borrowers higher dealer markups for auto loans than non-Hispanic […]

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