The Justice Department filed a lawsuit this week in the Eastern District of Michigan to recover damages from the COPOCO Community Credit Union, alleging that the institution violated the Servicemembers Civil Relief Act (SCRA) by repossessing protected servicemembers’ vehicles without obtaining the necessary court orders. The SCRA protects the rights of servicemembers on active duty […] [Read More]

Lori Wittman, senior vice president of sales and finance and insurance solutions for Cox Automotive, was recognized as one of 2016’s Women Who Mean Business by the Kansas City Business Journal. The company highlighted this exclusive list honors female entrepreneurs and executives for their outstanding professional accomplishments and for their contributions to the Kansas City […] [Read More]

Intellaegis president John Lewis recently compiled a two-part blog series for SWBC, a diversified financial services company that has interests in the automotive world along with insurance, mortgage banking and wealth management. While Lewis geared his collections compliance recommendations toward credit unions, the initial three suggestions on creating a mock audit to prepare for a […] [Read More]

As a dealer, you may have found that customers have some interesting notions about leasing. Or maybe you’re in the finance arena and you’ve observed that people are in the dark about how the numbers work. Enter Scot Hall, who you might say wants to do some auto lease myth busting. The executive vice president of […] [Read More]

Automotive Finance Corp. (AFC), a business unit of KAR Auction Services, named two vice presidents this week. AFC highlighted Tiff Arcella joined the company as vice president of sales and Devra Callaghan was promoted to vice president of marketing and business development. A sales leader and strategic management expert, Arcella joins AFC with nearly 30 […] [Read More]

Vendor Transparency Solutions (VTS) — a compliance monitoring and continuing education training provider for the recovery and finance industries — recently released its new, expanded library. In an effort to better prepare VTS-subscribed companies with the various compliance-related requests from clients, subscribers now have access to 23 individual policy templates. This service is provided by […] [Read More]

Capital One recently announced that it provided a $12 million floor plan revolver to Fahrney Automotive Group in Selma, Calif. Capital One also provided a $10.4 million construction line of credit that will enable the group to house each of its three franchises in separate facilities.  “This is the first construction loan in California for […] [Read More]

Since the company believes its vehicle location data has “transformed” the recovery industry, Digital Recognition Network is integrating the company’s historical hit data through Clearplan in an effort to generate even higher recovery rates. Through a program that started July 1, DRN affiliates can access historical hit data in Clearplan’s Business Plan for free during […] [Read More]

CU Recovery and The Loan Service Center — a collections resource for credit unions to minimize losses on their delinquent active loan portfolios and maximize recoveries on charged-off loans — recently announced the eight recipients of scholarships to its fall 2016 Collection Academy. The company chose the honorees based on their submissions about the goals […] [Read More]

General Motors Financial rolled out its North American vehicle lease program during the second half of 2014 and became the exclusive provider for the parent automaker — assuming captive finance company status — early last year. As a result of those moves, GM Financial determined that leases now make up the largest portion of its […] [Read More]