Exeter Finance Names New CEO

Exeter Finance has named a new CEO. Thomas Anderson, who has worked at Capital One and Sallie Mae, replaces Mark Floyd, who will remain on the subprime lender’s board of directors. What is most interesting is that it appears as though Anderson has no previous experience working in the auto finance industry. Irving, Texas-based Exeter is...

Industry’s Major Players Come Together, Seeking Dialogue With CFPB; Meeting Canceled At Last Minute

A meeting that was scheduled for last Friday between eight representatives from the repossession industry and representatives from the Consumer Financial Protection Bureau, including an assistant director, was canceled at the last minute after the lawyer representing the industry recused himself because of conflict of interest, RepoPulse.com has...

Auto Loan Balances Continue To Grow: Study

This is perhaps very good news for the auto finance — and repossession — industries. The average amount of auto finance debt carried by consumers has increased more than $1,000 during the past nine years, according to a report issued today by credit bureau TransUnion. The average auto loan balance is nearly $17,000 in 2014, up from...

Ally Makes Changes To Post-Repossession Fee Schedule

Ally Financial will no longer allow repossession agents to accept redemption or storage fees directly from consumers, according to an email reviewed by RepoPulse.com that was distributed last Friday by a forwarding company used by the auto lender. According to the email, a $75 flat fee may be billed to the forwarding company in the event of a...

Navy SEAL Commander, Author and Act of Valor Movie Star, Rorke Denver, to Keynote NARS 2015

Keynote speaker to highlight business strategies developed from military training and leadership experience IRVING, Texas – Sept. 18, 2014 – The North American Repossessors Summit (NARS), an industry event hosted by the American Recovery Association, Inc. (ARA), is proud to announce keynote speaker, Commander Rorke Denver, will speak at the...

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