Auto finance fraud could hit $6B in 2017

Story Link: Click Here  Auto finance fraud could hit $6B in 2017 Nick Zulovich   SAN DIEGO and NEW ORLEANS — PointPredictive, a provider of fraud solutions to banks and finance companies, generated a white paper at the beginning of … Continue reading →

Police: Vehicle owner assaults repo man

Story Link: Click Here A Wichita Falls man was jailed on charges of assaulting a repo man who was trying to take his vehicle. According to a police report: Officers were called to a disturbance in the 5200 block of … Continue reading →

Man accused of assault on repo man

Story Link: Click Here  BENNINGTON — A Rupert man faces an assault charge after he allegedly struck a repossession agent with his truck. Gordon Patrick, 44, pleaded not guilty in Vermont Superior Court Bennington Criminal Division to a felony count … Continue reading →

Mistaken Identity During Vehicle Repo

Story Link: Click Here    OMAHA, Neb. (WOWT) — An intriguing story of mistaken identity. But its not a person we’re talking about. Clayton Kissel found his pickup 10 days after he reported it stolen. Kissel said, “This truck didn’t … Continue reading →

New RISC course covers nonpublic personal information mandates

Article Link: Click Here TAMPA, Fla. –  The next online continuing education offering from risk management and training provider Recovery Industry Services Company (RISC) is geared to prepare recovery agency owners and agents to comply with federal regulations for protecting … Continue reading →

Vigilante Repo Job Gone Awry

Story Link: Click Here    VALLEY SPRINGS — On February 27th at around 4:30 PM, the Calveras County Sheriff’s Office arrived at Sequoia Rose Mobile Home Park to investigate a physical altercation. Two men — Jacob King and Robert Saling … Continue reading →

FTC Hunting for Abuse in Auto Lenders’ Implementation of Kill Switches

Story Link: Click Here    Finance companies have begun using ignition kill switches and tracking devices, which allow them to disable and then easily locate vehicles for repossession. Some of the devices even remind borrowers when they’ve missed a payment. According … Continue reading →

Forecast has 2017 repo total approaching 1.8M

Story Link: Click Here  ATLANTA –  This year’s Manheim Used Car Market Report projects that repossessions will total 1.7 to 1.8 million units in 2017, representing an increase “in the neighborhood of 100,000 units,” according to Cox Automotive chief economist … Continue reading →

FTC Looks for Abuses in Auto Lenders’ Use of Kill Switches

Story Link: Click Here A U.S. regulator is looking at whether auto finance companies that use sophisticated technology like ignition kill switches are illegally harassing subprime borrowers that have fallen behind on their payments. The Federal Trade Commission, a consumer … Continue reading →

Ted Cruz introduces bill to abolish CFPB

Story Link: Click Here    Texas conservative Sen. Ted Cruz on Tuesday introduced legislation to “abolish” the Consumer Financial Protection Bureau, highlighting the threat to the agency from the Right. The senator called the CFPB, created by President Obama‘s 2010 … Continue reading →