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Chrysler and GM Continue Strong Improvement, Ford stalled in 3rd, Toyota and Honda continue their slide in annual study of Automaker Buyer-Supplier Relations
DETROIT, May 14, 2012 /PRNewswire/ -- The real story in this year's rankings of automakers by their suppliers in the 12th annual study of OEM working relations is not their overall rankings, but rather the dramatic and continuing slide of Toyota and Honda, and the continuing improvement of Chrysler Group, General Motors and Ford since 2005. While still in first and second place... Continue »FTC Approves Final Orders Settling Charges that Auto Dealers Falsely Promised to Pay Off Consumers’ Trade-ins, No Matter What They Owed
FTC Approves Final Orders Settling Charges that Auto Dealers Falsely Promised to Pay Off Consumers' Trade-ins, No Matter What They Owed Following a public comment period, the Federal Trade Commission has approved final orders settling charges that five automobile dealers made deceptive claims that they would pay off the remaining balance on consumers' trade-ins, no matter what they owed. ... Continue »ABA TESTIFIES ON IMPACT OF REGULATORY COMPLIANCE COSTS ON COMMUNITY BANKS
WASHINGTON – The American Bankers Association testified today that the cumulative impact of years of added regulations has reached the tipping point, dramatically increasing compliance costs and threatening the future of community banks. William B. Grant, chairman and chief executive officer of First United Bank of Trust in Oakland, Md., testified on behalf of ABA before the House... Continue »Develop and Grow Your Company with Policies and Procedures – Create your Infrastructure to Service your Clients
"Surround yourself with the best people you can find, delegate authority and don't interfere as long as the policy you've decided upon is being carried out". Ronald Reagan - 40th US President There is so much change going on in the repossession industry that many repossession companies actually miss a great deal of what is happening, because they are so wrapped up in the day-to-day... Continue »America’s Credit Unions Top $1 Trillion In Total Assets
Above-average consumer membership growth fuels attaining of milestone WASHINGTON, May 4, 2012 /PRNewswire-USNewswire/ -- America's 7,300 credit unions have topped $1 trillion in total assets, a milestone achieved in part through the past year's above-average growth in consumer membership. At the end of March, U.S. credit unions had $1.02 trillion in total assets, according to the... Continue »Average Fuel Economy for New Cars Sold In April 2012 Falls To 23.3 MPG After Four Straight Months of Gains According to TrueCar.com’s TrueMPG
Industry Average Fuel Economy Up Nearly 14 Percent or 2.7 MPG From April 2008 SANTA MONICA, Calif., May 4, 2012 /PRNewswire/ -- TrueCar.com, the authority on new car pricing, trends and forecasting, today provided actual fuel economy numbers from April light vehicle auto sales that indicate TrueMPG™ increased to 23.3 mpg in April 2012 compared to 22.2 mpg in April 2011, and decreased... Continue »NADA: Aging Vehicles, Increased Inventory and Lower Gasoline Prices to Boost Auto Sales
McLEAN, Va. (May 1, 2012) – While automakers reported mixed results for U.S. new-car and light-truck sales in April, Paul Taylor, chief economist of the National Automobile Dealers Association (NADA), highlighted several factors that are expected to boost sales over the next several months. “Modest economic growth and declining gasoline prices, low interest rates, more leasing options... Continue »Driver data accessed illegally, state agency says – Repossession company worker’s actions may have affected thousands.
Article by Paul Walsh - Star Tribune Repossession company worker's actions may have affected thousands. 4/27/2012 An employee of a repossession company gained illegal access to the motor vehicle records of thousands of Minnesotans, state officials said Friday. The state said about 3,700 Minnesotans may have been affected. The data included what is found on vehicle registrations:... Continue »Debt collector files amended answer to Madison County suit
4/27/2012 4.43PM Article by Christina Stueve - Madison County Record American Recovery Services, a debt collector, filed an amended answer and affirmative defenses to a lawsuit against it on April 20. A Madison County man claims that American Recovery Services violated the law when it repossessed his vehicle after he made a late payment. Plaintiff Luther Calvert sued... Continue »Kelley Blue Book: April New-Car Sales Recovery Demonstrates Continued Strength At 1,148,000 Units, 14.0 Million SAAR
2012 Outlook Strong on Demand; Inventory Could Pose Problems Down the Road IRVINE, Calif., April 27, 2012 /PRNewswire/ -- Kelley Blue Book www.kbb.com, the leading provider of new car and used car information, projects new-vehicle sales to reach 1,148,000 units, or 14.0 million seasonally adjusted sales rate (SAAR), in April 2012. This will account for a less than 1 percent... Continue »Key Auto Recovery Uses LiveViewGPS Vehicle Trackers to Beat the High Cost of Gasoline
VALENCIA, Calif.--(BUSINESS WIRE <http://www.businesswire.com/> )--You’re on assignment in your tow truck. A bank has assigned you to repossess a vehicle for non-payment. You drive through heavy traffic and arrive at the address you were given…only to discover it’s an empty lot. You’ve just wasted 20 minutes of expensive diesel fuel. This is a common occurrence for family-owned... Continue »2012 Automotive Retail Sales Forecast
J.D. Power and LMC Automotive Report: New-Vehicle Retail Selling Rate Pulls Back in April, but Recovery Remains Ahead of Expected Pace WESTLAKE VILLAGE, Calif.: 19 April 2012 -- New-vehicle retail sales in April are expected to continue the year-over-year growth trend from the first quarter, as the market heads into the Spring selling season, according to a monthly sales forecast ... Continue »A NEW DAY IN THE REPOSSESSION WORLD – THE EFFECT OF THE CONSUMER PROTECTION BUREAU ON THE INDUSTRY
For those that attended the 2012 NARS event in Texas last month, you would have heard Michael J Dougherty, Managing Partner of Weltman, Weinberg and Reis in Philadelphia as one of the speakers of the event that in my opinion, covered a vital subject of the Consumer Financial Protection Bureau - CFPB and how this will impact the repossession industry. This impact means change - Michael... Continue »REPOSSESSION COMPANY SPOTLIGHT
NAME: Greenwood Recovery, Inc. ADDRESS: 1370 West North Avenue, Baltimore, MD 21217 CONTACT NAME: Burt (Buz) Greenwood, Jr. – President TELEPHONE: 410-383-8000 FAX: 410-523-8336 E-MAIL: bgreenwood@greenwoodgrp.com WEBSITE: www.greenwoodgrp.com GEOGRAPHIC COVERAGE: Maryland, Delaware, Washington DC, Northern Virginia, Southern Pennsylvania INDUSTRY ASSOCIATIONS: ... Continue »Study: Proposed Fuel Economy Rules Cut 7 Million Car Buyers Out of New-Vehicle Marke
NADA: New-vehicle dealers support fuel economy increases if affordable for consumers WASHINGTON (April 12, 2012) – The National Automobile Dealers Association (NADA) released a study today indicating that higher vehicle prices resulting from proposed fuel economy rules will cut millions of potential new-car buyers out of the market in 2025. “To work, fuel economy improvements must... Continue »PAR North America and CarsArrive Extend Transportation Network, Revenue Opportunities for Recovery Agents
4/11/2012 CARMEL, Ind. — PAR North America, a nationwide provider of vehicle transition services and a subsidiary of KAR Auction Services, today announced a partnership with CarsArrive to offer recovery agents a wider network of transportation services and additional revenue-earning potential. CarsArrive is an industry leading provider of automated vehicle transport services in North America.... Continue »REPOSSESSION COMPANY SPOTLIGHT
NAME: Greenwood Recovery, Inc. ADDRESS: 1370 West North Avenue, Baltimore, MD 21217 CONTACT NAME: Burt (Buz) Greenwood, Jr. – President TELEPHONE: 410-383-8000 FAX: 410-523-8336 E-MAIL: bgreenwood@greenwoodgrp.com WEBSITE: www.greenwoodgrp.com GEOGRAPHIC COVERAGE: Maryland, Delaware, Washington DC, Northern Virginia, Southern Pennsylvania INDUSTRY ASSOCIATIONS: ... Continue »NADA: Used Car Prices in 2012 Set to Peak in April
McLEAN, Va. (April 10, 2012) – Trade-in values on used cars are expected to peak over the next few weeks, said Jonathan Banks, executive automotive analyst with the National Automobile Dealers Association (NADA) Used Car Guide. “While prices for all used-vehicle segments will remain stable over the next two months, compact and mid-size cars will appreciate in value and outpace other... Continue »Hidden Bank Fees Cost Consumers at the Pump
A new NACS study reveals that customers are paying up to 10 cents a gallon in hidden bank fees every time they fill up. 4/10/2012 WASHINGTON – A new NACS study found that drivers are paying 6 to 10 cents a gallon in hidden bank fees every time they gas up. To make matters worse, the banks' swipe fee goes up inexorably with the price of gas, even though your bank is doing nothing... Continue »TD Auto Finance Keynote Speaker Recommends Strategies for Industry Challenges at NARS 2012
Fourth Annual NARS Brought Together Recovery, Remarketing and the Lending Industry for Insightful Discussions Dallas, TX – April 10, 2012, American Recovery Association, Inc. (ARA), the world’s largest association of recovery and remarketing professionals, is proud to announce the success of its fourth annual industry event, the North American Repossessors Summit (NARS). Nearly 500... Continue »Judge finds that repossession agent trespassed and assaulted man on private property
Mayo Advertiser - Ireland, April 06, 2012. A repossession agent was found to have trespassed on private property and assaulted a man, whose van he was trying to repossess on behalf of ACC Asset Finance, at Castlebar District Court on Wednesday. The facts of the case were heard last year. It outlined that Aidan Faulkner, Crow’s Nest, Castlecohill, Clogherhead, Co Louth, telephoned... Continue »Who’s Responsible for the Repossessor’s Acts?
Who's Responsible for the Repossessor's Acts? By Tom Hudson, Partner - Hudson Cook, LLP April, 2012. When an auto creditor or leasing company engages a repossessor who allegedly botches a repossession, leading to a lawsuit by a consumer, can the consumer successfully argue that the creditor or lessor is liable for the repossessor’s supposed bad acts? The answer to that question can... Continue »UNIFICATION – IS THIS THE NAME OF THE GAME? A Possible Outcome from the 2012 NARS Event?
Finally, at the 2012 NARS (North America Repossessors Summit), in Texas last week, on Friday afternoon you would have heard the beginnings of the discord being aired between the members of the panel ‘Acting on the Challenges of Our Industry – From Talk to Action’ – members being Les McCook representing ARA, Patrick Altes (TFA), Jennifer Daniels (NFA), Ed Marcum (RSIG) and George Badeen... Continue »SUCCESSFULLY ‘RAISING THE BAR’ – THAT’S WHAT NARS ACHIEVED AGAIN THIS YEAR!
SUCCESSFULLY ‘RAISING THE BAR’ – THAT’S WHAT NARS ACHIEVED AGAIN THIS YEAR! “Action is the foundational key to all success”. Pablo Picasso, Artist (1881-1973) If you weren’t there you should have been – the 2012 NARS event was a 1.5 day event that was full of actions and interaction from the audience and indeed, the panels and speakers. Sponsors of the event included... Continue »Must See
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In today’s CNN Live that delivered the district attorney message that “Zimmerman profiles Martin” I was wondering about word “profile” definition. Dictionary was... Continue »