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Two auto-loan brokers admit Orchard Park scam (The Buffalo News) The owners of a defunct Orchard Park auto-loan brokerage pleaded guilty Monday to bilking 120 customers out of more than $240,000 on auto warranty and bank loan deals before their company was shut down by State Attorney General Andrew M. Cuomo more than a year ago. Polo auto store steers for loan to drive more business (SaukValley.com) POLO - Wakenight Auto Sales may get a face-lift if the City Council approves a $32,000 loan from its tax increment financing fund. Owner Roger Wakenight made the request at Monday's council meeting. He wants to replace windows, add a new office and remodel the shop area. Charlotte auto dealer pleads guilty to false loan charges (The State) CHARLOTTE -- Louis F. Harrelson, one of Charlotte?s best known auto dealers, has agreed to plead guilty to aiding in the filing of false auto loan applications with financial institutions. The 79-year-old Harrelson won?t likely spend any time behind bars. The plea deal with federal prosecutors calls for him to be placed on probation for two years. He?ll also have to pay a $50,000 fine and $1.19 ... Auto loan business in full gear: Experts (Toronto Star) Want to buy a car? Then step right up. There's no lack of loans for cars in Canada, say auto industry insiders. Auto dealer Harrelson will plead guilty in fraud case (The Charlotte Observer) (By Gary L. Wrightand Kirsten Valle) Louis F. Harrelson, one of Charlotte's best-known auto dealers, has agreed to plead guilty to aiding in the filing of false auto loan applications with financial institutions. The 79-year-old Harrelson won't likely spend any time behind bars. The plea deal with federal prosecutors calls for him to be placed on probation for two years. He'll also have to pay a ...

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31 Aug, 2007, 2315 hrs IST, REUTERS (The Economic Times)

NEW YORK: U.S. subprime auto lenders say they do not see a rising wave of defaults, but over the past year they have made a number of moves to burnish the scratches and dents in their loan portfolios.

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