Avoiding fraud: Contact parties, check addresses
Equipment lenders must be wary of the increased frequency of fraud currently plaguing the industry. Equipment financiers continue to face problems related to fraud schemes, such as no actual equipment in the deal, no actual lessee or no actual deal,
Equipment finance industry confidence declines again in April
Confidence in the equipment finance industry declined for the second consecutive month amid inflationary pressures and a slowdown in business activity. The Monthly Confidence Index for the equipment finance industry landed at 47 in April, down from 50.3 in March and
Opinions mixed on finalized CFPB section 1071 Dodd-Frank rulemaking
Opinions are mixed on the Consumer Financial Protection Bureau’s finalized rule that requires small businesses such as equipment dealers to collect information from customers, as financial institutions prepare for new small business lending reporting requirements. The CFPB issued a final rule
New orders for core capital goods inch up in February
New orders for core capital goods increased slightly for the second straight month as companies continued to navigate rising interest rates. The seasonally adjusted value of core capital goods orders, which excludes aircraft and defense equipment, landed at $75.2 billion, an
Equipment finance industry confidence declines in March
Confidence in the equipment finance industry declined slightly in March following three months of growing confidence as recession and inflation woes continue. The Monthly Confidence Index for the Equipment Finance Industry landed at 50.3 for March, down from 51.8 in February
Small business lending data collection rule change expected in March
Changes to the Equal Credit Opportunity Act (ECOA) that would require equipment lenders to submit to the Consumer Financial Protection Bureau credit application data for women-, minority- and black-owned businesses are expected in the coming months. The CFPB has been since
As banks tighten credit, equipment financers see opportunity
Equipment financiers remain optimistic about 2023, even as inflation and recession fears continue to linger. “Our folks haven't missed a beat during the last recession; they haven't missed a beat when interest rates are high, they don't miss a beat when
Equipment finance industry confidence rebounds in January
Confidence among executives in the equipment finance industry continues to grow after a two-year low in November 2022, despite concerns about inflation and a possible recession. The Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI) — an assessment of current
Limited systems integration stunts captives’ innovation
Captive finance organizations are critical to the success of the equipment financing industry, but limited systems integration with parent organizations is creating a barrier to innovation. For captives and their parent companies, connecting the digital ecosystems of both organizations is the
Equipment finance new business volume up 6%
Overall new business volume in the equipment finance sector in October jumped 6% year over year and 11% month over month to $11.3 billion despite rising interest rates and the expectation of a forthcoming recession. Year to date, cumulative new business
