Small-Ticket Leaders Keep an Eye on Fraud, the Economy and 1071

Equipment Leasing & Finance magazine recently caught up with Rob Ceribelli, Chair of the Small Ticket Business Council Steering Committee (BCSC). Ceribelli, COO of Wayne Businesses at DLL, is wrapping up his first year leading the group, which includes 15 members from financial services organizations primarily involved in transactions under $250,000, either individually or through lines. In this Q&A, Ceribelli shares a recap of his year as Chair.

From your perspective, what hot topics is the Small Ticket sector focused on this year?     

To kickoff this year we conducted a survey of the members. Several areas of interest were prominently mentioned—the slowing economy, the changing regulatory environment and fraud.  

We highlighted two of these topics at our Best Practice Roundtable in March. Leaders from across the industry shared their experiences in detecting and preventing fraud as well as navigating their businesses in an economy that is slowing.  


Our members are also highly focused on the effective and efficient implementation of the Section 1071 requirements. Firms engaged in small ticket or with third-party originators are especially burdened in trying to collect and store the additional information requirements without slowing the transaction speed and creating a “heavier” transactional process for the customer. Additionally, complying with the new and growing state-by-state disclosure requirements is also top of mind. 

How did you get involved with the BCSC? Would you recommend it to others?

I joined the Small Ticket BCSC after the term of another DLL colleague expired. After a few years of participating I was approached by Brad Peterson, the Chair at the time, about leading the group, which was an exciting and daunting opportunity. Luckily, Brad still participates as our Liaison to the ELFA Board so we can still leverage his background and experience. I would strongly recommend participation to others to support our industry, meet new people and keep tabs on developing industry issues.