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Banks and Credit Unions


KAR Hires VP for Recovery Database Network

John Sibbitt, vice president of business development for its Recovery Database Network

KAR Auction Services has hired John Sibbitt as vice president of business development for its Recovery Database Network, which provides banks and credit unions with software and data solutions to manage repossession and the disposition value chain, KAR has announced.


Fed Reserve Approves Second Rate Hike of 2018

Chairman Jerome Powell discusses the decision to raise the Federal Funds Rate by a quarter point...

With the labor market continuing to strengthen and economic activity rising at a solid rate, the Federal Reserve raised the Federal Funds Rate a quarter percentage point for the second time this year — putting the target for short-term rates in the 1.75 to 2% range.


Used Vehicle Loans Increase $410 in Past Year

New and used car loan amounts rose in the first quarter of 2018, the number of people leasing...

The loan amount for a new vehicle in the first quarter of 2018 was $31,445, $921 higher than the same period in 2017. In the used segment, the average loan amount for a vehicle was $19,536, $410 higher compared to the year-ago period.


Lease Approvals Rise 10% in April

Car lease approvals on Swapalease have been rising through most of 2018, in April they were up...

Retail leasing applicants registered a 70% approval rate on Swapalease during April, a 10% increase from the same time last year, the company announced.