Tricolor’s frantic end was sparked by a phone call from JPMorgan
Daniel Chu was in Italy, a world away from the sweltering Texas car lots he had built his fortune on, ...
Tag: auto fraud
Fifth Third Bank faces $200M in provisions from Tricolor ‘fraud’
Fifth Third’s auto portfolio grew in the third quarter, despite the potential loss of millions following subprime lender Tricolor Holdings’ ...
‘Pervasive fraud of rather extraordinary proportions’ seemingly found by Tricolor trustee
Lawyers for Tricolor Holdings’ trustee confirmed in a court hearing today that the subprime lender is under government investigation for ...
Tricolor trustee plagued by payment challenges, potential fraud
Wilmington Trust, National Association, a subsidiary of M&T Bank, as trustee for Tricolor Auto, is responsible for facilitating payments and ...
How double-pledging of assets to warehouse lines – an allegation levied at Tricolor – could happen
The Department of Justice is investigating Irving, Texas-based subprime auto lender and buy here, pay here retailer Tricolor for allegations ...
Vervent preps takeover of Tricolor Auto loans servicing
Vervent Inc. is preparing to take over servicing of Tricolor Auto Acceptance’s portfolio following the subprime lender’s Chapter 7 bankruptcy ...
Fifth Third CEO says $200 million loan fraud is ‘one-off’ issue
Fifth Third Bancorp, which said it was the victim of fraud on a loan with a $200 million balance, believes ...
Why AI-driven portfolio maintenance is the new credit risk advantage
If you only serviced your car once a year, you would not expect it to perform at its best. Oil ...
