Daily Digest – August 10. Credit Unions Top List of Auto Loan Originators; Wells Puts Blame on Vendor For Insurance Fiasco

CREDIT UNIONS TOP LIST OF AUTO LOAN ORIGINATORS

  • CU Direct, a network of credit unions, originated the most auto loans during the first six months of 2017, beating Capital One, Wells Fargo, and Ally. CU Direct originated nearly 600,000 auto loans during the first half of 2017, 19% more than it did last year.

WELLS PUT BLAME ON VENDOR FOR INSURANCE FIASCO

  • Wells Fargo is now blaming a third-party vendor for accidentally placing insurance policies on 500,000 vehicles it had financed. More than 20,000 of those vehicles were ultimately repossessed because the individuals were not able to make their payments with the addition of the unnecessary insurance.

WORTH NOTING: Krispy Kreme is tapping into eclipse-mania with a new donut … Aircraft carriers from the U.S. and the U.K. met up earlier this week off the coast of England … Walmart has apologized for accidentally putting a sign that said “Own The School Year Like a Hero” above a display of guns … Five morning success hacks from millionaires … You can now rent a room on Airbnb and stay in Donald Trump’s childhood home complete with a cardboard cutout of the president … The most expensive mansion in the U.S. is a $350 million home in Beverly Hills … The largest private companies in America … Goldman Sachs will begin using a personality test as part of its hiring process.

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