Tuesday, July 9, 2013

Texas ELT Stakeholders Meeting

On July 8 we were privileged to participate in an ELT Stakeholders Meeting about proposed changes desired by the Texas Department of Motor Vehicles to the ELT program. We represented our customers and were joined by other ELT service providers, the Texas Bankers Association, the Texas Automobile Dealers Association and Texas Independent Automobile Dealers Association, and the Texas Credit Union Associates (part of Cornerstone Credit Union League).

The focus of the event was to present their overall goal of keeping titles electronic. Currently, the TX DMV supports electronic titles both through the ELT (Electronic Liens and Titles) program and titles for vehicles without liens. The DMV would like to further promote electronic titles and wanted to hear concerns from stakeholders.
  • What business situations still require a paper title?
  • What incentives can be provided to encourage titles to remain electronic? The DMV is considering imposing a fee for paper titles or requiring participation in the ELT program.
  • What other issues need to be addressed to make an all electronic title system successful?
The DMV's goals for electronic titles were generally well received. We appreciated the involvement of representatives from lenders and dealers at this stage of their planning and look forward to working further with Texas and serving our customers with Texas titles.

Image above is The Road to Sundown by Lindy C Severns from the blog Wanderings of An Artist In Far West Texas.