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Related Party Transactions
 12 Months Ended
Dec. 31, 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) Donald Foss, our founder, significant shareholder and former Chairman of the Board; and (2) a member of Mr. Foss's immediate family.

Affiliated Dealer Loan balances were $1.4 million and $12.6 million as of December 31, 2016 and 2015, respectively.  As of December 31, 2016 and 2015, affiliated Dealer Loan balances were 0.0% and 0.4%, respectively, of total consolidated Dealer Loan balances.  A summary of related party Loan activity is as follows:
(Dollars in millions)
For the Years Ended December 31,
 
2016
 
2015
 
2014
 
Affiliated
Dealer
activity
 
% of
consolidated
 
Affiliated
Dealer
activity
 
% of
consolidated
 
Affiliated
Dealer
activity
 
% of
consolidated
Dealer Loan revenue
$
1.5

 
0.2
%
 
$
2.5

 
0.4
%
 
$
1.6

 
0.3
%
New Consumer Loan assignments (1)
8.9

 
0.3
%
 
5.9

 
0.3
%
 
4.2

 
0.3
%
Accelerated Dealer Holdback payments
0.2

 
0.4
%
 
0.2

 
0.4
%
 
0.1

 
0.2
%
Dealer Holdback payments
1.0

 
0.7
%
 
1.4

 
0.9
%
 
1.4

 
1.0
%

(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.

On June 7, 2016, Mr. Foss sold certain affiliated Dealers previously owned or controlled by him to a third party. As a result, we no longer consider these Dealers to be affiliated and accordingly, we have excluded these Dealers from the affiliated amounts reported above effective June 7, 2016.

On January 3, 2017, Mr. Foss retired as officer, director and employee of the Company and entered into a shareholder agreement with the Company. Under the shareholder agreement, Mr. Foss has agreed, until the final adjournment of the tenth annual meeting of shareholders held by the Company after the date of the shareholder agreement, to cause all shares of the Company beneficially owned by him or any of his affiliates or associates to be voted in accordance with the recommendation of the Company’s Board of Directors with respect to election and removal of directors, certain routine matters and any other proposal to be submitted to the Company’s shareholders with respect to any extraordinary transaction providing for the acquisition of all of the Company’s outstanding common stock. As a result, we will not consider the remaining Dealers owned or controlled by Mr. Foss or a member of Mr. Foss’s immediate family to be affiliated with us while Mr. Foss’s voting interests in the Company are subject to the voting restrictions under the shareholder agreement and accordingly, we will exclude these Dealers from the affiliated amounts reported in future periods effective January 3, 2017.