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Article: Why CUs Shouldn't Wait To Move To Electronic Liens, Titles.(Opinions)
- Article from:
- Credit Union Journal
- Article date:
- September 7, 2009
CopyrightCOPYRIGHT 2009 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Larry Highbloom
Due to unprecedented budget deficits state governments throughout the country are desperately seeking ways to cut costs wherever possible. States realize that many of their departments are paper intensive. One method they are employing to eliminate expense is replacing paper vehicle titles with paperless ones for lienholders such as credit unions in the Department of Motor Vehicles.
ELTs Offered In Some States
Several states offer paperless vehicle titles (also known as Electronic Lien and Title, or ELT) as an option to lienholders who finance auto loans for new and used vehicles. Paperless vehicle titles reduce costs ...