Repossession Classification, Consumer Protection, and Industry Integrity

Introduction The American Recovery Association (ARA) asserts that any vehicle secured prior to the full term of a vehicle installment loan constitutes a repossession. Efforts by lenders or third-party service providers to misclassify these recoveries as “tows” or similar designations are disingenuous and undermine transparency, consumer trust, and professionalism within the auto finance and recovery […]

Corporate Transparency Act Update

Recently, Wendy Rinehart with the Ohio Independent Automobile Dealers Association, distributed a memo regarding the Corporate Transparency Act (CTA). We encourage you to read her memo below in its entirety to understand how it may impact your business. Over the past year, you may have heard about a new regulation at the federal level – […]