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Sometimes only money talks…
Consumer complaints, lodged via the Consumer Financial Protection Bureau’s complaint portal, can be closed a number of different ways by lenders, most notably with the dreaded “Monetary Resolution.”
Last year, 53 auto lenders resolved 230 complaints with monetary resolutions, compared with 42 companies in 2013. However, this type of closure is not to be confused with an admittance of wrongdoing, according to Attorney John Redding, partner at Buckley Sandler LLP.
Auto lender Arivo Acceptance wanted to develop new software faster, so it enlisted a group mainly comprised of interns with...
Extra-long car loans can lower consumers’ monthly payments, but they also keep dealers from selling vehicles to those customers for...
Alternative asset management firm Bayview Asset Management in the past five years has purchased about $25 billion in auto collateral through bulk...
Luxury vehicle dealerships are fighting a rapidly growing scam in which fraudsters impersonate delivery companies to steal vehicles. Kalamazoo, Mich.-based...
David Thompson
David Thompson
David Thompson
