Agent Grabs, Damages Wrong Unit

CHARLOTTE, NC (FOX 46 WJZY) – Imagine your car being repossessed, then damaged, only to find out the repo company had the wrong car. On August 15, Debra Demmery says she parked her car in an Innovation Park parking deck where she works off University Boulevard in north Charlotte. She went inside for the day and when she came back, her car

Improving Repossession Practices?

WASHINGTON, D.C. –  Hudson Cook partner Allen Denson read through the auto-finance portion of the latest Supervisory Highlights shared by the Consumer Financial Protection Bureau and immediately thought of another credit segment. The CFPB’s report described problems bureau representatives found with vehicles being repossessed after contract holders evidently made catch-up payments or entered into agreements to

DOJ Spanks CitiFinancial $ For $900,000

The Justice Department said on Monday that CitiFinancial Credit Co. — a successor to CitiFinancial Auto Corp. — will pay $907,000 to resolve allegations that it violated the Servicemembers Civil Relief Act. Between 2007 and 2010, CitiFinancial repossessed 164 cars owned by SCRA-protected servicemembers without first obtaining the required court orders, according to a DOJ

ARA Climbs Into Bed With RDN

The American Recovery Association (ARA) announced a new partnership on Friday with Recovery Database Network (RDN), a business unit of KAR Auction Services. The organizations highlighted the agreement will help finance companies manage and monitor vendor compliance by integrating ARA’s Compliance Monitoring System and compliance metrics with the various software solutions offered by RDN. RDN