Illinois law will require repo agencies to wipe consumer data
An Illinois bill requiring repossession agencies to wipe consumer data from vehicles before they leave repo lot will go into ...
Tag: repossessions
Subprime share of loans, defaults dip in July
Declining subprime auto finance market share is contributing to a higher-quality credit mix industrywide and helping to offset rising defaults ...
When is repo valid? Regulators probe repossession practices
Repossession agents are facing headwinds as they try to meet growing lender demand, and the situation is now drawing the ...
3 ways to improve recovery rates
Auto lenders need to take a close look at their repossession policies and procedures as regulators home in on the ...
Houston repo agency’s volume up 15% YoY
Houston-based repo agency Automobile Recovery Bureau has seen a 15% year-over-year increase in repossession volume as recovery requests continue to ...
CFPB sues U.S. Auto Sales’ finance arm USASF for repo practices
The Consumer Financial Protection Bureau has brought claims against auto loan servicer USASF Servicing alleging that the company illegally disabled ...
Wave of repo litigation hits auto lenders
Auto lenders are being advised to review their repossession notification processes following several lawsuits in recent months as regulators home ...
Bank of America, Freedom CU, West Aircomm FCU named in repo complaints
Pennsylvania courts are cracking down on repossession-related offenses, as evidenced by a trio of recent cases. Earlier this month, Freedom ...
