Mar 29, 2018
UK fintech startup Oodle Car Finance has agreed a £100 million warehouse funding line with Citigroup. Oodle aims to merge car search and finance into a single digital process which pairs customers with cars, dealers and funding. The Citigroup funding follows a £60 million equity investment from global investment firm KKR last year.
Apr 20, 2018
There are signs that the power and influence of the Consumer Financial Protection Bureau (CFPB) is on the wane under its new leadership. The federal agency has taken high-profile action for malpractice against auto finance lenders in the past, but in the first official report issued by acting director Mick Mulvaney, there are four key statutory changes to the bureau.
Nov 30, 2017
Volkswagen Financial Services Australia (VWFSA) has paid a penalty of AUD$216,000 (US$163,000) after the Australian Securities and Investments Commission (ASIC) issued infringement notices for alleged misleading advertising statements. The penalty related to VWSA’s ‘1% you can’t ignore’ advertising campaign, with ASIC issuing 20 infringement notices in total.