In an effort to bolster the collections industry, the ACA International board of directors recently adopted a revised version of the ACA Code of Conduct that applies to all association members. Officials explained ACA’s longstanding code has provided its members a firm foundation for industry engagement. The organization indicated the newly revised code is designed […] [Read More]

Ford Motor Credit Co. is extending payment allowances for customers affected by recent flooding in the Southeast. The company’s disaster relief program allows qualified customers to delay one or two monthly payments, then resume their regular payment schedules when their situations improve. “We care about our customers and want to help them, especially in times […] [Read More]

Swapalease.com reported that lease approvals rebounded in September, but year-to-date trends remain off from the pace analysts saw in 2015. The site indicated vehicle lease credit applicants registered a 64.7-percent approval rate for September — a notable increase from August's reading of 57.7 percent. A year ago the approvals rate reached 80.0 percent during September. Swapalease.com […] [Read More]

The latest enforcement action handed out by the Consumer Financial Protection Bureau was again focused on debt collection. This time, the action involved Navy Federal Credit Union. The bureau specified four activities deemed to be improper debt collection actions that triggered a $28.5 million penalty. The CFPB charged Navy Federal Credit Union with these infractions: […] [Read More]

Levy Grunwald didn’t know what to expect when he tried Honcker, a new app that lets people lease vehicles online. What he knew was that his last lease had expired, and between work and life, he just didn’t have time to visit a dealership. Still, could he trust the newly launched Honcker? “I develop apps […] [Read More]

Consolidated Asset Recovery Systems (CARS) — again the sponsor of this year’s Re3 Executive of the Year Award to be handed out at Used Car Week — is hosting a free one-hour webinar to dive deeper into the topic of legal options when repossession fails. In conjunction with Pamela Dotson, corporate counsel for LCS Financial […] [Read More]

Double-digit growth during the last year prompted CU Recovery and The Loan Service Center to add an additional layer of executive management. As a result, the operation gave the newly created chief operating officer position to Chris Becker, who will help to ensure the companies continue on a path of healthy growth while maintaining their […] [Read More]

Despite record numbers of new vehicles rolling over the curb as leased models, Black Book Lender Solutions discovered a large number of auto finance companies say they don’t leverage residual data for their portfolio. The findings arrived despite the majority of finance companies admitting that portfolio risk assessment and remarketing remains at the top of their […] [Read More]

The Federal Trade Commission is seeking public comment associated with a pair of statutes often connected with collections, repossessions and recoveries. First, the FTC wants the public to share thoughts on its Disposal Rule, a rule that implements part of the Fair and Accurate Credit Transactions Act of 2003 (FACTA). Officials recapped that the Disposal Rule, […] [Read More]

The dog days of summer turned out to be the most difficult stretch of the year so far for lease approvals. Swapalease.com reported vehicle lease credit applicants registered a 57.7 percent approval rate for August — the lowest rate the market has seen in 2016 and also the lowest rate for the month of August in […] [Read More]