Mass. AG Fines Auto Lender $700K

Massachusetts Attorney General Maura Healey has ordered Sensible Auto Lending LLC to pay $733,925 to resolve allegations it knowingly facilitated the sale of defective vehicles by certain used-car dealerships. The Danbury, Conn.-based auto lender agreed to provide relief for consumers who were “cheated” by F&R Auto Sales Inc. and three other Massachusetts dealerships from August…

Texas Agents Take Gunfire

A 22-year-old man was charged after he pointed a loaded firearm at two men working for a repossession company, an Ector County Sheriff’s Office affidavit detailed. Raul Andrew Serrano was charged Tuesday with two counts of aggravated assault with a deadly weapon, each a second-degree felony. The assault happened at 12:22 a.m. Thursday at 1820…

Exeter Finance To File IPO

Irving-based Exeter Finance Corp, which specializes in subprime auto loans, says it plans to file to become a publicly traded company, according to multiplereports. According to an SEC filing, Exeter will list on the New York Stock Exchange under the ticker symbol “XTF.” It is backed by the private equity firm Blackstone Group. Exeter has 2.8 percent of…

Hyundai Gives 30 Days To Fed Employees

DETROIT, Jan. 14, 2019 – Hyundai has a long history of providing customers peace of mind through its Assurance program, and like it did in 2013, is launching a government shutdown payment relief program aimed at helping federal employees furloughed during the government shutdown. Under the plan, Hyundai will extend all Hyundai Capital auto loan and lease payments…

John Sibbitt to Manage RDN And Clearplan Client Relations At KAR

CARMEL, Ind. –  On Friday, KAR Auction Services announced an addition to the management team for one of its business units, Recovery Database Network (RDN). Joining the provider of specialized software and data solutions to customers across the repossession and disposition value chain as vice president of business development is John Sibbitt. The company highlighted Sibbitt brings…

Penn R/O Charged With Terroristic Threats

A Milton (PA) area man fired a shotgun and pointed it at two men trying to repossess an ATV last week, state police said. Tpr. Nathan Wenzel charged David Beachel, 52, with two counts of terroristic threats, reckless endangerment and simple assault from the incident Jan. 2 at 374 Strick Road. Troopers arrived at the…

Is A Recovery Exemption For Federal Employees Coming?

Special To Repo Buzz By Dave Branch A possible moratorium prohibiting the recovery of defaulted collateral for Federal employees and contractors may be in the works very soon. US Senator Brian Schatz (D-Hawaii) just last week, cosponsored  S.24 – Government Employee Fair Treatment Act of 2019 which, in summary, reads: This bill requires employees of the…

EV Trucks Will Become The Norm

Electric pickup trucks are definitely on their way and EV startup Atlis is showing its XT pickup truck in these renderings. The Atlis truck claims some interesting specs and features, with a clear intent of providing some real-world solutions when (or if) it hits the market within the next few years. The full-size XT truck, built on…