BMW gets it Right on Fees

EDITORIAL

22 November 2017 – In a world of lenders and forwarders so scared of the CFPB and it’s view of personal property fees that they wantonly and with complete disregard to the efforts and labor involved with the process, are requiring repossession agencies to waive all fees associated with it, it is refreshing to see a lender make a business decision that is reasonable and profitable to the agent.

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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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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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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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Last Days for Discounted Registration Fees – Early Bird Ends 3/15/17!

Education, Training, Networking and Trade Event of the Year, hosted by:
Allied Finance Adjusters Conference Inc. & Recovery Specialist Insurance Group

Early bird registration for the 2017 Education, Training, Networking and Trade Event for repossession and financial institution professionals, hosted by Recovery Specialist Insurance Group and Allied Finance Adjusters Conference Inc ends March 15, 2017.  Save $30 per attendee by registering before the fees go up!

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2017 RSIG/Allied Annual Training Convention

San Diego, California – June 21-23, 2017

The repossession industry education, training, trade and networking event of 2017 is set and registration is open.  Recovery Specialist Insurance Group and Allied Finance Adjusters Conference Inc. will be coming together again in 2017 in San Diego, California to host this industry event.

The dates of this event are June 21-23, 2017.

The location, the beautiful Sheraton San Diego Hotel & Marina.

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Free Webinar to Help Agents with the Right way To Handle Personal Property

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FOR IMMEDIATE RELEASE

December 14, 2016 – The Consumer Financial Protection Bureau has indicated it is interested in looking at how repossession agencies charge consumers for items like vehicle storage and personal property. That could lead to investigations, financial penalties, or worse.

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When Does and Independent Contractor Become an Employee?

Gind_cntrctruest Editorial

There is a strange phenomenon occurring in the asset recovery industry consisting of deep client involvement in the repossession process related to the control and intrusion in the actual act of the repossession.

For some reason the clients seem to be more involved with controlling the actions of the agent in the field for example the “NO CONTACT” with consumers or third parties dictates. What world do these people live in? Apparently, they have never worked an actual field assignment or they would understand that their absurd directive is an impossible demand.

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Appeals Court Rules CFPB Structure Unconstitutional

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Federal three-judge panel rules CFPB’s structure is unconstitutional but rejects idea of shutting down agency

A federal appeals court delivered a strong rebuke to the government’s new consumer-finance watchdog, declaring the agency’s unusual independence to be unconstitutional, and ordering its powers be curbed.

The Tuesday ruling was the latest legal setback to the Obama administration’s post-crisis financial-regulatory regime.

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