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Americans scrap 10 to 12 million vehicles per year, fueling a $20 billion-plus industry in recycled automotive steel, copper, plastic, glass and rubber.

The Steel Market Development Institute (SMDI), a business unit of the American Iron and Steel Institute (AISI), shared results of a study, “The Importance of the Production Phase in Vehicle Life Cycle GHG Emissions.”

At its first summit and expo dedicated to recycling and sustainability in manufacturing, Re|focus, SPI: The Plastics Industry Trade Association today released a new report, Automotive Recycling: Devalued is now Revalued.

The Department of Banking and Securities has issued an order against Dean M. Lake and D&M Auto Sales of York, Pennsylvania, for unlicensed activity, charging of excess fees totaling $113,198.65, failure to accurately represent consumer down payments, and alteration of signatures and amounts, in violation of the Consumer Credit Code.

The department has ordered Lake to refund 194 consumers the overcharges and pay a fine of $430,000. Further, Lake is prohibited from engaging in the business in Pennsylvania for a minimum of five years.

The department's order against Lake can be found online: http://bit.ly/1OTV3VZ

Published in the July 2016 Edition of American Recycler News