Used car dealer, Tricolor, cost multiple large banks hundreds of millions in charged off loans recently, reportedly due to fraud. In theory, banks are required to hold the title of every car they finance.
In practice, holding titles becomes inconvenient when the dealership has significant volume. It’s not uncommon to see banks choose to trust the dealer by allowing them to provide copies of car titles instead of originals.
When car dealers experience cash flow problems, an evil heart can lead some to fraudulently begin pledging the same car to multiple banks.
Luke 6:45 teaches, “An evil man brings evil things out of the evil stored up in his heart.”
Don’t allow convenience to cause you to overlook the evil of man. Ronald Reagan used to say, “Trust, but verify.”
