Auto Loan Fraud Soars

Up to 1% of car loan applications include deception, firm says

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.

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NY Introduces New Anti LPR Bill

alpr_camera2“Honestly, I think it’s kind of creepy. I would use the word ‘stalking’ almost,” said Assemblyman Jeffrey Dinowitz, D-Bronx, who has introduced a bill to limit the way police may use plate readers and make New York one of the few states prohibiting their use by private companies.

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Felony Fraud Charges on Repo Leads to Grizzly Evidence of Fatal Hit and Run

undr_crLaSalle County, IL – January 20, 2016 – With the finding of the presence of some kind of foreign material on the undercarriage, Investigators have impounded the car believed to have struck and killed a Mendota woman and it not only shows damage consistent with an accident but other evidence that could implicate suspected driver Jose Torres.

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Oregon Joins List of States Suing Illegal Title Loan Company Allegedly on RDN

legal_scalesSalem, OR – August 20, 2015 – The State of Oregon has joined Pennsylvania in suing an unlicensed title loan company going by the names Auto Loans LCC, Liquidation LLC, Loan Solutions LLC, Management Solutions LLC or Car Loan LLC and is also connected to a host of other individual names including William McKibbin III, Kevin Cronin, Mark Edward Wiener, and Kelly S. Bonner.

This company is allegedly a “Global Client” in the RDN network. Claims of bounced checks coming from Nevada mail box drops as well as earlier warnings from RSIG predate this suit.

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FTC Brings First Case Alleging Text Messages Were Used In Illegal Debt Collection Scheme

ftc_logoDefendants Will Pay $1 Million to Settle Charges

A Glendale, California-based debt collector will pay $1 million dollars to settle Federal Trade Commission charges that the defendants violated federal law.  This is the first FTC action against a debt collector who used text messaging to attempt to collect debts in an unlawful manner.

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