Wells Fargo Dealer Services Adds $5.4M to 2016 Military Repo Settlement
The latest payout is related to the $4.1 million settlement the bank reached in September 2016 to resolve the DOJ’s allegations that the bank violated the Servicemembers Civil Relief Act. According to the DOJ, the bank identified an additional 450 servicemembers impacted by its unlawful repossessions between January 2008 and July 2015.
AutoGravity’s Car-Buying Platform Surpasses 1 Million Users
Launched in 2016, AutoGravity rapidly expanded from 100,000 users in its first six months to more than one million users less than a year later, according to officials. In 2017 alone, car shoppers have request more than $1 billion in vehicle financing through the fintech firm’s car-buying app.
Craig Robinson Named President of AAGI
The 20-year industry veteran and former executive with The Warranty Group will coordinate strategy and development for AAGI’s products, services, and technology. Tim Brugh, who held the title since May 2013, named CEO.
Black Book Index Climbs for Second Straight Month
The last remaining replacement activity stemming from hurricanes Harvey and Irma drove continued vehicle value stability and shopping demand in October, with the firm’s index rising to 114.6 in October.