Chase’s veterans affairs chief on how to lend to military personnel

February 15, 2012 Off By administrator

Chase’s veterans affairs chief on how to lend to military personnel
News from Automotive News:

Q&A

Automotive News February 15, 2012 – 12:01 am ET

 
Herman: “The better you know your marketplace the more success you’re going to have.”

Photo credit: JPMorgan Chase

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How auto lenders and dealers treat members of the military has been an early and consistent focus of the Consumer Financial Protection Bureau.

Major auto lenders do a lot of business with military members and their families, says Nate Herman, a Marine Reserve officer who is executive director of veterans affairs for JPMorgan Chase & Co.

Chase Auto Finance is one of the nation’s largest auto lenders, with $ 4.9 billion in total originations in the fourth quarter of 2011. Some lenders specialize in loans to members of the military — the Navy Federal Credit Union, for example. Its 3.8 million members, from all branches of the Department of Defense, make it the world’s largest credit union, a spokesman says.

In a presentation this month at the American Financial Services Association’s Vehicle Finance Conference, Herman said lende…………… continues on Automotive News

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Monmouth County Helps Recoup $ 337732 for Consumers
News from Atlantic Highlands Herald:

Consumer Affairs office investigates complaints against businesses 

FREEHOLD, NJ – The Monmouth County Department of Consumer Affairs has recouped $ 337,733 on behalf of consumers last year, with $ 136,001 returned directly to consumers.  

Figures in the department’s year-end report shows that while the number of cases handled by the department dropped by one-third in 2011, from 937 in 2010 to 615 in 2011, staff was able to recoup nearly the same amount of money directly to local consumers.

Consumer Affairs Director Annmarie Howley attributed the drop to consumers being more savvy about the money they spend on goods and services.

“People are spending less money, but they are more conscious of where their money goes and making sure they get what they paid for,” Howley said.

The money breaks down this way: $ 136,001 was in cash refunds; $ 180,358 represents the value of services and items that the Department was able to recover for consumers who were unable to get them on their own, and $ 21,373 was in voided contracts.

“People are continuing to watch every dollar they spend, so it’s comforting to know there is a place to turn to for help,” said Freeholder Lillian G. Burry, liaison to the county’s Department of Consumer Affairs. “The staff works not only for Monmouth County residents, but for any resident who…………… continues on Atlantic Highlands Herald

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