FTC Shuts Down Websites Offering Fake Pay Stubs for Sale
The operators of websites that sold fake pay stubs and other financial documents have agreed to permanently shut down their business as part of separate settlements with the Federal Trade Commission, the regulator announced this week.
Black Book HAV Data Now Integrated Into defi SOLUTIONS’ LOS Platform
Defi SOLUTIONS is the first loan origination platform to include Black Book’s History Adjusted Valuations data feed. Users can now identify undesirable deals prior to the origination process, improve advance amounts, prevent fraud, and use HAV to set floors more accurately when remarketing.
Brown & Brown Acquires F&I Resources
With the acquisition, terms of which were not disclosed, the F&I Resources team will become part of Brown & Brown’s auto, RV, and powersports practice, which operates under the leadership of Mike Neal, president of the company’s Brown & Brown of Kentucky subsidiary.
Pa. Dealer Agrees to Pay $2.1 Million to End Prosecution Into Bank Fraud
According to the U.S. Attorney’s Office, Hallman Chevrolet falsified loan documents as well as costume jewelry brought in by customers as collateral for purported down payments over a six-year period beginning in 2009. The dealer, David Hallman, accepted responsibility for the scheme and agreed to pay a $1.4 million fine and more than $737,000 in restitution to end federal prosecution.
Edmunds: Zero Percent Finance Deals Evaporate in August
Two years ago, zero percent finance deals accounted for 14.6% of transactions. Last month, they only accounted for 7.4%. Edmunds analysts point to higher interest rates as one of the reasons for the scarcity in zero percent finance deals in August.