--- title: "Tricolor's regulatory and consumer record" language: en canonical: https://dossiertwist.com/dossiers/tricolor-holdings/regulatory-record/ as_of: 2026-10-13 keywords: ["Tricolor Holdings","Tricolor Auto Group","Tricolor Auto Acceptance","Ganas Investors","Daniel Chu","Tricolor Auto Securitization Trust","Tricolor Funding SPV 4","warehouse facility","subprime auto loans","asset-backed securities","JPMorgan Chase","Fifth Third","Barclays","Origin Bank","TBK Bank","BlackRock","Chapter 7","Anne Elizabeth Burns","Vervent","Wilmington Trust"] --- # Tricolor's regulatory and consumer record **Question.** What regulatory actions and consumer complaints are on record against Tricolor's companies? **Answer.** In 2015 Tricolor Auto Acceptance paid an $82,777 civil penalty under a stipulated federal court order on the accuracy of the information it furnished to credit reporting agencies, and in 2019 California's financial regulator issued a revocation order against Tricolor California Auto Group, followed by a settlement agreement. Consumers sued under telephone and lending laws and a supplier sued for breach of contract; after the 2025 collapse the Texas motor-vehicle department was reported to be investigating buyers' complaints and California's to be investigating Ganas Used Auto Sales. ## Regulatory actions - Analysis: On September 16, 2015 Senior U.S. District Judge A. Joe Fish of the Northern District of Texas entered a stipulated final order in United States v. Tricolor Auto Acceptance, LLC (3:15-cv-03002-G), a case under the Fair Credit Reporting Act. Tricolor Auto Acceptance was ordered to pay a civil penalty of $82,777, to comply with the rules on the accuracy of information furnished to credit reporting agencies and on direct disputes, and to notify the Federal Trade Commission of structural changes and of any bankruptcy petition. The order is a consent judgment, and a news investigation reported that the company neither admitted nor denied the allegations. The California Department of Financial Protection and Innovation lists an enforcement action against Tricolor California Auto Group, LLC, holder of California Financing Law licence 60DBO-54857: a revocation order of April 3, 2019 and a settlement agreement of May 9, 2019, whose terms are in documents not among the retained records. [src-080] [src-037] [src-041] ## Lawsuits - Analysis: In a putative class action under the Telephone Consumer Protection Act over prerecorded calls to a mobile phone in May and June 2020 after an opt-out, Judge Percy Anderson of the Central District of California denied Tricolor California Auto Group's motion to dismiss on December 17, 2020 (case CV 20-7419 PA); the outcome is not in the retained documents. On September 27, 2024 a self-represented consumer sued Tricolor California Auto Group, LLC, described as doing business as Ganas, Ganas Auto, TriColor Holdings and TriColor Finance, under the Truth in Lending Act in the same court (case 8:2024cv02112); the docket summary shows no outcome. Both plaintiffs are private individuals and are not named here. Genuine Parts Company, doing business as NAPA Auto Parts, sued "Ganas Holdings LLC", doing business as Tricolor Auto Group, for breach of contract in the Northern District of Texas on December 21, 2018 (case 3:2018cv03388); the docket summary does not show the outcome. [src-063] [src-070] [src-102] ## Press accounts and investigations - Analysis: In November 2022 a financial weekly published an article about customer complaints against Tricolor, describing it as celebrated on Wall Street as a socially conscious dealer and a favourite of ESG investors, and BlackRock's new social-impact fund as having bought a stake in Tricolor Auto Group; only the article's headline and opening paragraph are retained, not the complaints it reports. After the collapse, a Spanish-language television news report said in October 2025 that the Texas Department of Motor Vehicles had confirmed it was investigating complaints about Tricolor Auto and its affiliates and had received more than a hundred complaints from buyers about contracts, payments and vehicle titles. A California television news report said in September 2025 that customers of Ganas Auto, whose Texas parent Tricolor Holdings had filed for Chapter 7, did not know whom to pay, and that the California Department of Motor Vehicles confirmed it was investigating Ganas Used Auto Sales, calling it an active investigation on which it would not comment; the customer quoted is not named here. The outcomes of both investigations are not in the record. [src-084] [src-082] [src-083] ## Sources - [src-080] Stipulated order, United States v. Tricolor Auto Acceptance, LLC (N.D. Tex. 3:15-cv-03002-G), U.S. Federal Trade Commission, 2015-09-16 - [src-037] Media source · src-037 - [src-041] Enforcement action: Tricolor California Auto Group, LLC, California Department of Financial Protection and Innovation, 2019-05-09 - [src-063] Court record source · src-063 - [src-070] Court record source · src-070 - [src-102] Court record source · src-102 - [src-084] Media source · src-084 - [src-082] Media source · src-082 - [src-083] Media source · src-083