N.C. Gov. Pat McCrory has signed into law a requirement that the state's Division of Motor Vehicles implement an electronic lien and title program.
ELT replaces paper automotive liens with an electronic exchange of data between a state’s department of motor vehicles and automotive lenders.
VINtek, a provider of electronic lien and title services, has signed on the $550 million Deere Employees Credit Union.
If ever there was a case for moving from paper vehicle titles to an electronic system, advocates might point to a recent occurrence in Michigan.
Michigan fraudsters make the case; South Carolina credit union sees the value. A look ahead to next week's print edition.
As several states make the transition away from paper vehicle titles to electronic lien and titles, at least one firm said it is experiencing the impact.
New state law mandates end of printing paper titles on Jan. 1.
Partnership with electronic lien and title services specialists gets out in front of Jan. 1 deadline by Florida motor vehicles agency.
Two years after their partnership formed, a Texas Credit Union League subsidiary and a Philadelphia vendor said they now are serving more than 80% of the state’s credit unions participating in the Texas electronic lien and title program.
Now 128 credit unions participating, 104 of them through league service corporation partnership with VINtek.