Washington, DC – 24 November 2017 – A leading U.S. consumer watchdog is preparing to sue Santander bank alleging that the Spanish bank overcharged borrowers on auto loans, two sources familiar with the plans said on Friday.
For Immediate Release
August 3, 2017 – Maple Grove, MN — Auto Approve announced today that Jerry Kroshus has been named President and CEO. Kroshus started in his new role on July 24th. Kroshus has 28 years of automotive related experience and for the last nine years led PAR North America as its President and CEO.
Kansas City, MO – 7 June 2017 – Jackson County Prosecutors charged a 30-year-old Kansas City man with harassment and making terroristic threats after police say he threatened employees and their families at Auto Bank KC, 6901 E. Front Street, when the business informed him they would have to repossess his vehicle if he didn’t catch up on payments.
The employee of Auto Bank KC who manages his vehicle loan says Robert Hill told her and another co-worker that he was going to burn down their houses, kill their families and kill them.
Borrower fraud in U.S. auto loans is surging, and may approach levels seen in mortgages during last decade’s housing bubble, according to a startup firm that helps lenders sniff out bogus borrowers. As many as 1 percent of U.S. car loan applications include some type of material misrepresentation, executives at data analytics firm Point Predictive estimated based on reports from banks, finance companies and others. Lenders’ losses from deception may double this year to $6 billion from 2015, the firm forecast.
Scary U.S. Auto Loan Debt Numbers Foreshadow Economic Downturn
Rising U.S. Auto Loan Debt a Symptom of Bubble Economics Permeating Society
Auto industry sales have come back from the “Great Recession” grave, but U.S. auto loan debt threatens to relegate the industry to purgatory. Rock-bottom interest rates have allowed consumers to gorge on debt for too long, setting the stage for the auto loan debt 2017 debacle playing out before our eyes. The bill has come due, and the auto industry is bracing for a protracted retrenchment.