The American Repossessor

“Regulatory pendulum has swung too far,” says ABA WASHINGTON – The American Bankers Association testified today before the House Subcommittee on Financial Institutions and Consumer Credit, expressing strong support for bipartisan legislation that would provide critical balance and transparency to the bank examination process. ABA Chairman Albert C. Kelly, Jr., testified that the Financial Institutions Examination [...]

TORRANCE, Calif. (Feb. 1, 2012) – Toyota Motor Sales (TMS), U.S.A., Inc. reported monthly sales results of 124,540 units as momentum from the fourth quarter of last year picked up speed in January. With 24 selling days in January 2011 and 2012, sales increased 7.5 percent over the year-ago month on a daily selling rate [...]

Ford Motor Company U.S. sales in January totaled 136,710 vehicles, a 7 percent gain compared with January 2011; retail sales increased 8 percent Focus contributed to 30 percent of Ford Motor Company sales growth in January, more than any other vehicle in the Ford product lineup. Focus sales were 14,400 vehicles, up 60 percent – the  best [...]

Fourth consecutive quarter ranked No. 1 in quarterly industry study 2012-02-01 DETROIT – General Motors remains the No. 1 innovator for the fourth-consecutive quarter among 183 companies ranked by The Patent Board in its quarterly automotive and transportation industry scorecard. GM was granted 1,123 U.S. patents in 2011 applied to global product engineering, global powertrain engineering, global research [...]

Chevrolet car sales up 13 percent on Strength of Cruze, Sonic 2012-02-01 DETROIT – General Motors Co. (NYSE: GM) today reported total sales of 167,962 vehicles in the United States in January, down 6 percent compared with a very strong January 2011. “Chevrolet drove our performance once again and sales of our fuel-efficient new cars were especially [...]

ARLINGTON, Tex. – 1/31/12 General Motors will start construction next week on a new $200 million stamping facility that will create approximately 180 jobs. The new facility, part of  the company’s Arlington manufacturing complex, will produce large stamping components for the next generation of full-size Chevrolet Tahoes , Suburbans, GMC Yukons and Cadillac Escalades . “Our investment in GM’s Arlington plant is one more example [...]

Jan 31, 2012 PARK RIDGE, N.J., Jan. 31, 2012 / PRNewswire/ – On January 10, 2012, Hertz Global Holdings, Inc. (NYSE: HTZ) participated in the Deutsche Bank Global Auto Industry Conference, and presented a web cast overview of the business and investment considerations. The Company also provided certain 2012 revenue assumptions at the conference, which included 9% to [...]

February 1, 2012 MANASSAS, Va. — Recovery Specialist Insurance Group recently highlighted how the industry has been embracing its National Agency Management Systems, a technology solution that’s been welcomed by Allied Finance Adjusters, as well as lenders. RSIG contends that NAMS is the only technology solution that can provide direct communication with the repossession agency [...]

DETROIT (Feb. 1, 2011) – As the auto industry continues on a path of steady recovery and customers return to showrooms, dealers are taking advantage of lease training being offered by Ally. In 2011, more than 7,700 dealership personnel completed lease training offered by Ally either via online instruction, in-dealership [...]

Defendants Ordered to Pay Almost $10 Million; Billed Consumers Without Their Consent The Federal Trade Commission has stopped an operation that targeted payday loan seekers and charged them for worthless programs without their consent. A settlement order, reached as part of the FTC’s ongoing efforts to stamp out online fraud, requires the defendants to pay more [...]

01/06/12 Cyber criminals have found yet another way to steal your hard-earned money: a recent phishing scheme involves spam e-mails—purportedly from the National Automated Clearing House Association (NACHA), the Federal Reserve Bank, or the Federal Deposit Insurance Corporation (FDIC)—that can infect recipients’ computers with malware and allow access to their bank accounts. The malware is appropriately [...]

Posted: Jan 31, 2012 5:32 PM EST Updated: Jan 31, 2012 5:44 PM EST

FORT WORTH, TEXAS January 31, 2012 – GENERAL MOTORS FINANCIAL COMPANY, INC. (“GM Financial” or the “Company”), announced the pricing of a $1.0 billion offering of automobile receivables-backed securities through lead managers Barclays Capital, Deutsche Bank Securities and J.P. Morgan. Co-managers are Credit Suisse, Morgan Stanley, RBS and BofA Merrill Lynch. GM Financial uses net [...]

FORT WORTH, TEXAS January 30, 2012 – GENERAL MOTORS FINANCIAL COMPANY, INC. (“GM Financial” or the “Company”) has chosen DataScan Technologies LLC (DataScan) – a leader in wholesale finance accounting and risk management systems – as its systems provider for GM Financial’s Commercial Lending Services business. GM Financial plans to launch its Commercial Lending Services [...]

ATLANTA, Jan. 30, 2012 /PRNewswire/ – In 2011, U.S. consumers were much more diligent in paying against their debts, resulting in significant declines in delinquency rates among the majority of tracked lending sectors in Equifax’s December National Credit Trends Report. (Logo:  http://photos.prnewswire.com/prnh/20060224/CLF037LOGO ) U.S. consumers weren’t just doing a better job of paying their bills on time in [...]

01/30/2012 12:36 BENTONVILLE, Ark., Jan. 30, 2012 (GLOBE NEWSWIRE) — America’s Car-Mart, Inc. (Nasdaq:CRMT) today announced it will release fiscal 2012 third quarter financial results on Wednesday, February 15, 2012 after the market closes. Senior management will hold a conference call the following day, Thursday, February 16, 2012 at 11:00 a.m. (Eastern). A live audio of [...]

Firm Also Will Notify Consumers with “Time-Barred” Debt That It Will Not Sue to Collect 1/30/12 One of the nation’s largest consumer debt buyers has agreed to pay a $2.5 million civil penalty to settle Federal Trade Commission charges that it made a range of misrepresentations when trying to collect old debts. In addition, the company, Asset Acceptance, [...]

Ford will offer fuel-efficient EcoBoost™ engines in 11 vehicles in 2012, up from seven in 2011, tripling the production capacity of EcoBoost-equipped Ford vehicles. Expanded availability in high-volume nameplates helps make fuel economy more affordable for hundreds of thousands of drivers Delivering up to 20 percent better fuel economy than conventional engines, EcoBoost uses smaller overall size [...]

DEARBORN, Mich., January 27, 2012 – Ford Motor Credit Company reported net income of $1.8 billion in 2011, compared with $2 billion a year earlier.  On a pre-tax basis, Ford Credit earned $2.4 billion in 2011, compared with $3.1 billion in the previous year.  The decrease in pre-tax earnings is more than explained by fewer leases being terminated [...]