CINCINNATI – A little more than three years after announcing an aggressive growth plan based on a strategy to add a significant number of dealership customers throughout the United States, Security National Automotive Acceptance Company (SNAAC) is departing the auto-finance business. A news release sent to SubPrime Auto Finance News late on Wednesday afternoon said SNAAC will discontinue
WASHINGTON, DC (WSMV) – The Department of Justice announced today that the Nissan Motor Acceptance Corporation (Nissan MAC) has agreed to pay $3 million to resolve allegations that it violated the Servicemembers Civil Relief Act (SCRA). According to the DOJ, the suit alleges that Nissan MAC repossessed 113 vehicles owned by SCRA-protected servicemen and servicewomen
ASHEVILLE, N.C. (WLOS) — An SUV being repossessed nearly slammed into a West Asheville home Thursday night and left more than 60 people without power.
Equifax will pay up to $700 million in fines and monetary relief to consumers over a 2017 data breach at the credit reporting bureau that affected nearly 150 million people. The proposed settlement, which is subject to approval by a federal court, was announced Monday by the company, the Federal Trade Commission, the Consumer Financial Protection Bureau and
HOUSTON – A tow truck driver has been arrested in connection with a shooting that left a carpool driver critically injured. Harris County Sheriff Ed Gonzalez said in a tweet that 35-year-old Gil Garza is charged with aggravated assault in connection with Friday’s shooting in the parking lot of a Walgreens at the corner of FM 529 at Queenston Boulevard. Court
WASHINGTON—In Eugene Scalia, the Trump administration has found a potential secretary of labor with an established record of pursuing limits on government regulation of business. Mr. Scalia, 55 years old, has devoted almost a decade to fighting rules associated with the 2010 Dodd-Frank law intended to make the financial system safer following the financial crisis.
MEMPHIS, Tenn. — A tow truck driver had to make a run for it Tuesday night after an angry customer fired shots at him while he was trying to repossess a vehicle.Jereme Eggert was repossessing a car at a home on Olympic Street around midnight when things took a violent turn. Police say he was
LANSING, Mich. (WOOD) — A former Florida company accused of charging illegally high interest loans on nearly 200 vehicles in Michigan has agreed to repay $1.6 million to its victims. Michigan Attorney General Dana Nessel’s office announced the restitution amount Monday, which is part of a settlement with now-defunct AutoLoans LLC. Under the plan, customers
Uniform Commercial Code 9-609 § 9-609. SECURED PARTY’S RIGHT TO TAKE POSSESSION AFTER DEFAULT. (a) [Possession; rendering equipment unusable; disposition on debtor’s premises.] After default, a secured party: (1) may take possession of the collateral; and (2) without removal, may render equipment unusable and dispose of collateral on a debtor’s premises under Section 9-610. (b)