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Related Party Transactions | 9 Months Ended
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Sep. 30, 2016
Related Party Transactions [Abstract] |
Related Party Transactions | RELATED PARTY TRANSACTIONS In the normal course of our business, affiliated Dealers assign Consumer Loans to us under the Portfolio and Purchase Programs. Dealer Loans and Purchased Loans with affiliated Dealers are on the same terms as those with non-affiliated Dealers. Affiliated Dealers are comprised of Dealers owned or controlled by: (1) our Chairman and significant shareholder; and (2) a member of the Chairman’s immediate family. In recent years, the focus of the affiliated Dealers owned by our Chairman (1 above) has changed to leasing. Since we do not offer a leasing product, the Chairman formed a leasing company to provide this product. Although the market segment served by us and the Chairman’s leasing company overlap, we did not historically view the Chairman’s leasing activities as an actual or perceived conflict, based on the modest scope of these operations and representations by the Chairman to us that such activities were being conducted to assess the viability of leasing and with the intent to allow us to benefit from any insights, knowledge and business processes that were developed. As we have continued to monitor and evaluate the Chairman’s leasing business, we have concluded that the potential benefits to us of these activities were outweighed by the potential for actual or perceived conflicts of interest that may develop as a result of the overlap between the products offered and the market segments that are served and the potential for expansion of the business. As a result, we asked the Chairman to discontinue his leasing activities. Subsequently, the Chairman has advised us that, effective as of June 7, 2016, he sold the active affiliated Dealers and related leasing business previously owned or controlled by him to a third party. We are continuing to work with the Chairman to understand and verify the terms of the reported sale transaction and the degree to which the transaction resolves the concerns described above. Based on information provided to us by the Chairman and without giving effect to the reported sale of affiliated Dealers by the Chairman noted above, affiliated Dealer Loan balances were $18.5 million and $12.6 million as of September 30, 2016 and December 31, 2015, respectively. As of September 30, 2016 and December 31, 2015, affiliated Dealer Loan balances were 0.6% and 0.4% of total consolidated Dealer Loan balances, respectively. A summary of related party Loan activity is as follows:
(Dollars in millions) | For the Three Months Ended September 30,
| 2016 |  | 2015
| Affiliated Dealer activity |  | % of consolidated |  | Affiliated Dealer activity |  | % of consolidated
Dealer Loan revenue | $ | 0.9 |  |  | 0.5 | % |  | $ | 0.5 |  |  | 0.3 | %
New Consumer Loan assignments (1) | 4.7 |  |  | 0.7 | % |  | 1.1 |  |  | 0.2 | %
Accelerated Dealer Holdback payments | 0.1 |  |  | 0.7 | % |  | — |  |  | — | %
Dealer Holdback payments | 0.3 |  |  | 0.9 | % |  | 0.3 |  |  | 0.8 | %
(Dollars in millions) | For the Nine Months Ended September 30,
| 2016 |  | 2015
| Affiliated Dealer activity |  | % of consolidated |  | Affiliated Dealer activity |  | % of consolidated
Dealer Loan revenue | $ | 2.4 |  |  | 0.4 | % |  | $ | 1.4 |  |  | 0.3 | %
New Consumer Loan assignments (1) | 13.6 |  |  | 0.7 | % |  | 3.6 |  |  | 0.2 | %
Accelerated Dealer Holdback payments | 0.3 |  |  | 0.7 | % |  | 0.1 |  |  | 0.3 | %
Dealer Holdback payments | 0.9 |  |  | 0.8 | % |  | 1.0 |  |  | 0.9 | %
(1) | Represents advances paid to Dealers on Consumer Loans assigned under our Portfolio Program and one-time payments made to Dealers to purchase Consumer Loans assigned under our Purchase Program.

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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39603-107864 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39622-107864 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39678-107864 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(k)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph b -Article 3A + Details
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