repossessions Archives

Recovery pickup time slows as repo volumes surge

Vehicles marked for repossession are taking longer to pick up due to a jump in volume and a bottleneck caused ...

Listen: Weekly Wrap discussion on Carvana, incentives

December 5, 2022

As the auto industry faces declining consumer demand amid macroeconomic uncertainty and high vehicle prices, lenders are feeling the squeeze ...

Wells Fargo Auto offers incentive to repo agencies

byRiley Wolfbauer

December 1, 2022

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Wells Fargo Auto is offering a $500-per-vehicle incentive to repossession agencies to prioritize the recovery of their vehicles amid a ...

Rental cars are stored in a parking lot at Dodger Stadium in this aerial photograph taken over Los Angeles, California, U.S., on Wednesday, May 27, 2020. Hertz Global Holdings Inc. will sell as many of its rental cars as possible while in bankruptcy to bring its huge fleet in line with reduced future demand in a post-pandemic economy,the company's lead bankruptcy lawyer said during a court hearing Wednesday.

30% of repo agencies shut down due to unprofitability

byRiley Wolfbauer

November 17, 2022

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SAN DIEGO — Repossession volume is expected to increase in the coming year, a challenge exacerbated by an estimated 30% ...

cars lined up in parking lot aerial view

Huntington leverages location data to improve repo recovery rates

byRiley Wolfbauer

November 17, 2022

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SAN DIEGO — Lenders looking to drive recovery rates and keep costs down should provide accurate vehicle location data to ...

Speed Leasing Hits $10 Million in Originations

Powersports and the CFPB: Fair lending, fees, repossessions and voluntary products

byJason Bichsel, McGlinchey

June 27, 2022

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Compliance lawyers last summer were predicting that the Consumer Financial Protection Bureau (CFPB) would announce a robust regulatory agenda under ...

Lender Compliance Technologies brings automation to auto lenders’ regulatory practices

CFPB eyes unfair, deceptive acts: Technology and repossessions

byJim Sandy, McGlinchey

April 5, 2022

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The Consumer Financial Protection Bureau (CFPB) recently issued two bulletins highlighting its concerns with business practices in the auto finance and ...