Cordray Resigns from the CFPB, Now What?

Treasury Secretary Steven Mnuchin

Washington, DC – 15 November 2017 – Richard Cordray, the Director of the Consumer Financial Protection Bureau (“CFPB”), announced Wednesday that he plans to step down from that post by the end of the month. Cordray’s term was otherwise set to expire in July of 2018.

So, what does this mean for the collections and repossession world?

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Texas Repo Man Murderer Gets Life Sentence

Khalifah Ibn Muhammad, 29

Odessa , TX – November 16, 2015 – Khalifah Ibn Muhammad, 29, has been sentenced to life in prison for a deadly 2015 shooting death of 24-year-old Brandon Lee Russell in Odessa. On Wednesday a jury found found Khalifah Muhammad guilty of murder in the death of Brandon Lee Russell on September 30, 2015. Judge Stacy Trotter then sentenced Muhammad to life in prison.

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RISC Makes Comprehensive Repossession Lot Inspection Reports Available

Palm Springs, CA – 15 November 2016 – The leadership at Recovery Industry Services Co. (RISC) heard panel discussions and networking dialogue from industry participants during Used Car Week about the importance of compliance for third-party vendors. The situation reinforced why RISC rolled out its latest offering on Tuesday.

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Borrower Faces 11 Charges for Armed Repo Interdiction

Perry Cheever, 26

Yellville, AR – 9 November 2017 – An effort to repossess several vehicles at a residence along Marion County Road 6014 on October 26th has led to 11 charges being filed against a Yellville man, 26-year-old Perry Cheever.

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