Residence document recycling scam spans seven lenders Â
The discovery of a sophisticated fraud pattern involving the deliberate reuse of residence documents across multiple auto loan applications highlights ...
Tag: auto fraud
AI contributes to 25% rise in fraud lossesÂ
AI-assisted fraud rings are contributing to a rise in losses at financial institutions such as credit unions. Â Fraud losses ...
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, ...
Fifth Third Bank faces $200M in provisions from Tricolor ‘fraud’Â
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 trusteeÂ
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 fraudÂ
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 Â
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 servicingÂ
Vervent Inc. is preparing to take over servicing of Tricolor Auto Acceptance’s portfolio following the subprime lender’s Chapter 7 bankruptcy ...
