How double-pledging of assets to warehouse lines – an allegation levied at Tricolor – could happen
Justice Department is investigating Tricolor for alleged fraud
The Department of Justice is investigating Irving, Texas-based subprime auto lender and buy here, pay here retailer Tricolor for allegations of fraud and the potential of double-pledged collateral, according to published reports. The allegations beg the question: How does double-pledging work? Auto lenders use warehouse funding from financiers, typically banks, to fund operations and auto […]
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