As the organization prepares to host the North American Repossessors Summit, the American Recovery Association recently formed what it dubbed the Young Professional Repossessors Commission (YPRC), a committee dedicated to educating, empowering and creating a platform for young industry professionals to speak and lead on behalf of ARA and the recovery industry. To become a member, […] [Read More]

The National Automobile Dealers Association reminded members this week they must change their accounting method to comply with the tangible property regulations mandated by the Internal Revenue Service. NADA explained these regulations generally govern whether expenditures on tangible property may be expensed or must be depreciated. These rules are generally effective with the filing of […] [Read More]

Federal officials said Wednesday that Santander Consumer USA has agreed to pay at least $9.35 million to resolve a lawsuit by the Department of Justice alleging that the finance company violated the Servicemembers Civil Relief Act (SCRA) in connection with vehicle repossessions. The Justice Department indicated the complaint and the settlement, which is subject to […] [Read More]

This week, ALS Resolvion announced the completion of its operational and financial integration resulting from the merger of American Lending Solutions and Resolvion.  The two companies formally merged last September, creating one of the largest repossession management and skip-tracing firms in the auto finance industry. Officials highlighted the combined business currently employs more than 160 […] [Read More]

Here is something you don’t hear every day: leasing is actually lower than it should be. AutoTrader.com president Jared Rowe said this during an event Wednesday at Google headquarters — and the two reasons behind his assertion both have used-car implications. First, he said, the industry’s remarketing structure is stronger than it has been in prior years, […] [Read More]

Digital Recognition Network is hosting three opportunities through free webinars to learn more about the four ways recovery efforts can be enhanced through DRN’s location reports that now contain phone numbers. During a 30-minute webinar, DRN director of collections and recovery Marc Ahlers plans to explain how the solution is capable of: — Improving first-contact […] [Read More]

As their list of sponsors grows, organizers of the North American Repossessors Summit (NARS), hosted by the American Recovery Association, highlighted that they’re partnering with Capital One Auto Finance to host the third annual NARS Golf Tournament. This year’s event will be held on March 14, and the profits will help support the Boys & […] [Read More]

Recovery Specialist Insurance Group reminded repossession agents about a crucial part of a Consumer Financial Protection Bureau bulletin, especially if these agents have gone through specialized recovery training during the past two years. RSIG board member Jim Clark focused on whether agencies currently are compliant with the CFPB’s  expectation that the banks and nonbanks conduct […] [Read More]

Credit union lease program CU Xpress Lease announced Thursday it has partnered with Affinity Federal Credit Union. Located in Basking Ridge, N.J., Affinity is New Jersey’s largest credit union and will begin offering automotive leasing to its members in New Jersey, Pennsylvania and New York on March 16. Scott Witherspoon, the senior vice president and […] [Read More]

Black, white, or somewhere in-between — according to Swapalease.com, roughly 8 out of 10 of the vehicles in its car lease marketplace fall into that category. The colors, including various grays and silvers, have proliferated in recent years, far outpacing the blues, reds and other colors that used to fill a far larger portion of […] [Read More]