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In Memoriam: IFS Founder Tim Janssen

Tim Janssen, the retired president of IFS (Innovative Funding Services LLC), passed away on Aug. 14 in Largo Vista, Texas. He was 55. Janssen founded IFS in 2007 and served as president of IFS for more than 12 years until his retirement in Jan. 1.

Fed Announces First Rate Cut in 11 Years

Federal Reserve Chairman Jerome Powell officially announced a widely expected cut to the federal funds rate yesterday, dropping the central bank's target by a quarter-point to 2%.

Auto Loan Interest Rates Hit 10-Year High

The annual percentage rate on new financed vehicles is expected to average 6.36% in March, compared to 5.66% last year and 4.44% five years ago, according to the latest report from Edmunds.

Fiat Chrysler to Establish Captive Finance Company

Fiat Chrysler Automobiles will establish its own captive finance company by 2022 in a move that could involve the purchase of Chrysler Capital from Santander Consumer USA, the companies have confirmed.

Used Vehicle Loans Increase $410 in Past Year

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.

IronPlanet Updates allEquip Format

IronPlanet, an online marketplace for selling and buying used equipment and other durable assets, debuted its next generation allEquip fixed and negotiated pricing format.

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