Cliff Banks - The Banks Report

CFPB Poses Real Threat to Dealers

NADA convinced Congress three years ago to not place dealers under the purview of the Consumer Financial Protection Bureau (CFPB). It turned out be a hollow victory as the CFPB is using banks and financial institutions to gain control over dealer financing practices. Here is what’s been happening: 1. In March, the bureau provided formal…

This content is for subscribers only.
Log In Subscribe
Cliff Banks - The Banks Report

Big Change in Cars.com’s Future?

October 2, 2013 — The next several months should be interesting for Cars.com. Sister Company for Sale Its owner, Classified Ventures LLC announced on September 3 that it retained investment banking firm Moelis & Co. to explore strategic alternatives — including a sale — for Apartments.com, Cars.com’s sister site. Also included with Apartmens.com are the… Continue Reading

Cliff Banks - The Banks Report

TrueCar Files Trademark Lawsuit Against Sonic Automotive

September 4, 2013 — We’re still working on the details but we do know in August TrueCar filed a lawsuit against the SonicAutomotive Group alleging trademark infringement. Sonic has been implementing a one-price, no haggle program for all of its stores. Earlier this year, Sonic came up with True Price as the name for the… Continue Reading