Subprime Auto Loan Defaults at 20 Year High

Despite the growing economy in the United States, an increasing number of subprime auto loan borrowers are defaulting on their loans. The information collected by Fitch Ratings reveals the delinquency level is now at 5.8 percent, which is the highest rate of delinquency in more than 20 years, Bloomberg reported. With 60-day delinquency rates now at…

Santander’s 1/4 Billion First Q

DALLAS, April 24, 2018 /PRNewswire/ — Santander Consumer USAHoldings Inc. (NYSE: SC) (“SC”) today announced net income for the first quarter ended March 31, 2018 (“Q1 2018”) of $242 million, or $0.67 per diluted common share. The Company has declared a cash dividend of $0.05 per share, to be paid on May 14, 2018, to shareholders of record as of the close of business on May 4, 2018.…

Sun Trust Data Breach

(Reuters) – SunTrust Banks Inc (STI.N) said on Friday a former employee may have attempted to download some information on nearly 1.5 million clients and share it with a criminal third-party. The company said it believes the information included names and account balances, but not personally identifiable information, such as social security numbers, account numbers,…

Plate Locate And Vigilant Join Forces

LIVERMORE, Calif., April 19, 2018 /PRNewswire/ — Vigilant Solutions announces today that it has reached an agreement with Plate Locate to sublicense Vigilant’s patent portfolio in return for Plate Locate granting Vigilant the ability to enable law enforcement to have greater access to commercially-generated license plate reader (LPR) data via its hosted LEARN® analytic software to assist in law enforcement investigations.…

IBEAM Integrates With Clearplan

– RALIEIGH, N.C. –  Another example of industry cooperation in the repossession world came to light on Wednesday. Consolidated Asset Recovery Systems (CARS) announced that the forwarding company has integrated its IBEAM repossession and remarketing compliance portal with the Clearplan dashboard used by repossession agents to manage work assignments from their vehicles. CARS explained its real-time…