CFPB Faults Forwarders for Wrongful Repossessions

Washington, DC – 12 September 2017 – In a report published September 12th by the Consumer Financial Protection Bureau (CFPB), titled the “Supervisory Highlights, Issue 16, Summer 2017”, the CFPB released their findings from examinations of “servicers” overseeing repossession agents and how repossessions are conducted. Through that work, they identified unfair practices relating to repossessions that had been causing wrongful repossessions of borrowers who had already brought their accounts to current statues.

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Requiring Lender’s Locksmiths Lot Access – Another Encroachment and Contradiction

Editorial

So, you have a fence around your storage yard, perhaps some barbed wire on top and cameras recording everything going on. Why? Security of course. As an agency owner, it is crucial that you secure your business and the recovered collateral. So, why would you give a person you don’t know access to your yard and the vehicles stored on it?

Well, that’s the newest infringement on repossession agencies that is occurring now.

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Response to Pennsylvania forming CFPB

FOR IMMEDIATE RELEASE

There is big news out of Pennsylvania this morning affecting the financial Institution and third-party service provider world. Pennsylvania Attorney General Josh Shapiro announced the formation of a State of Pennsylvania Consumer Finance Protection Bureau.

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The $500 Repo Fee

Editorial

$500 repo fee. Sounds pretty radical, doesn’t it? Well, really, it’s not. I imagine every one of us has had a father or grandfather who tells us how candy bars used to cost a nickel and gas was a quarter a gallon. Well, they’re usually telling the truth. These changes are reactionary to operational costs of living and operations and fall under a proven thing called (dig this) inflation.

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Pressing Issues of Our Time

FOR IMMEDIATE RELEASE

As we quickly approach the arrival of our 9th anniversary of the first North American Repossessors Summit (NARS), I thought I would reflect some on where we are today as an industry.

For starters, many of the people who attended the first conference are no longer in the business, and I am concerned many who attend this year’s event won’t be in business next year.

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Allied Finance Adjusters and RSIG Joint Convention – NO RAIN ON OUR PARADE!

Weather forecast for June 21st thru 24th 2017 100%   Beautiful!

It was an exquisite June afternoon at the Sheraton San Diego Hotel & Marina where 514 repossessors from all across the nation converged into what was hailed as the industry event of the year!  Additionally, several dozen industry vendors stood at their booths ready to offer goods and services. The event kicked off socializing with old friends and networking with the 50 plus clients that were present. They ranged from Prime to Subprime, Credit Unions and Buy Here Pay Here’s.

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Conference Review – RSIG AFA Conference San Diego 2017

It was a beautiful week in San Diego as hundreds of RSIG and AFA Member gathered for the RSIG AFA Conference in San Diego. With the combined associations all in one place, the ball rooms were packed and I knew very quickly that this was going to be a stellar event. Socializing with old friends and new are at least half of the value in these events and this was definitely loaded with some great times! I hadn’t been to an association event in a couple of years and I definitely found the right one to attend!

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RISC to Acquire Recovery Compliance Solutions (RCS)

TAMPA, Fla., May 26, 2017 – Recovery Industry Services Company (RISC), the industry-leading provider of Collateral Recovery Training, Certification, and Compliance Solutions, today announced that it has signed a definitive agreement to acquire Recovery Compliance Solutions (RCS) in order to enhance its Vendor Vetting services as part of RISC’s overall compliance-related offering.

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2017 RSIG & AFA Conference Now Offering Stand Alone Classes

2017 Education Training and Trade Event for Repossession & Finance Industry Professionals hosted by Recovery Specialist Insurance Group and Allied Finance Adjusters Now Offering Stand Alone Classes:

Full conference registrations include these sessions and much more, including meals and networking time with exhibitors and lenders.  Full registrations include the opportunity to receive a continuing education certificate showing that you attended over 14 hours of training.

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North American Repossessors Summit Raises Money for Recovery Agents Benefit Fund

July 26-27, 2017  – Omni Mandalay Hotel at Las Colinas

 

IRVING, Texas – May 17, 2017 The North American Repossessors Summit (NARS), an industry event hosted by the American Recovery Association, Inc. (ARA) and Harding Brooks Insurance Agency, is announcing they will be donating all profits from the NARS Golf Tournament and live auction to the Recovery Agents Benefit Fund (RABF).

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