CORP Issues Letter to RDN on Lender Solicitation

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PRESS RELEASE

The following was a letter sent to Recovery Database Network (RDN) by the Council of Repossession Professionals (CORP):

 

The Council of Repossession Professionals” consists of every national and state repossession association, and represents thousands of repossessors and repossession agencies across the United States.

We in the repossession industry congratulate you on your expanded role in overseeing RDN. As you know, this database is used by thousands and thousands of us in the industry as the primary means of interacting with our clients, and managing our day-to-day businesses. RDN has been a powerful tool for the industry, and for that we are thankful.

However, it has been a concern of ours that information entered by the repossession agencies could be used for marketing purposes by your affiliate corporation, PAR North America. Our industry enters proprietary information into RDN every day; the names and contact information of creditors, our fee amounts, and other data. It would not be difficult to assess the size and scope of various creditors, and have PAR North America target our clients based on this information.

In the past we have had assurances from Todd Hodnett, and then Zach Hollowell, that our information was not being mined for use by PAR North America.

The repossession industry is asking, as a show of good faith, your assurance in writing information we enter into RDN will not be used by any KAR Auction affiliates to solicit clients, and this data will not be given to any other organization for marketing purposes.

 We would like the opportunity to enjoy continued use of the RDN platform without concern that our information is being used to undermine our own businesses.

Thanks for your time and consideration in this request, and we eagerly await your response.”

 

We did receive the following response from RDN:

 

On behalf of RDN, I want to acknowledge your correspondence of April 18, 2016 regarding RDN’s treatment of customer data.

You have requested assurance in writing that proprietary information entered into RDN’s database will not be used by KAR affiliates (or any other third party) to solicit customers and will not otherwise be shared for third party direct marketing purposes.  Please be assured that RDN does not share identifiable proprietary or personal information with any third party for their own direct marketing purposes.  In addition, and with respect to your specific concern relating to PAR, I want to confirm that RDN does not share fee amounts with PAR or any other of KAR’s affiliated companies for solicitation or other direct marketing purposes.

The RDN database was built for you and all of our customers as a tool to help you do business better and more efficiently.  Using proprietary data to benefit only one customer would fly in the face of our business model.  More than that, our goal is simply to do the right thing.

 

Michael Briggs

RDN CEO

 

We want to thank RDN for their comprehensive response to our inquiry, addressing the concerns of many in the repossession industry.

Sincerely,

The Council of Repossession Professionals

www.councilofrepossessionprofessionals.com

 

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