VINCENNES—Indiana Secretary of State Diego Morales announced today that Banks One Stop Auto’s dealer license has been revoked. The decision follows a thorough investigation conducted by the Indiana Auto Dealer Services Division.
The investigation into Banks One Stop Auto commenced on July 31, 2024, after the Secretary of State’s office received multiple complaints regarding the dealership’s practices. An in-depth examination of the dealership’s records and interviews with numerous affected individuals led the Auto Dealer Services Division to conclude that Banks One Stop Auto engaged in fraudulent activities.
The investigation revealed that the dealership submitted falsified forms to the Indiana Bureau of Motor Vehicles. Shockingly, at least one individual’s signature was reportedly used without their knowledge or authorization, and authorities believe these fraudulent practices may impact as many as ninety-two forms.
The dealership’s license has been officially revoked as a direct consequence of these serious violations. Furthermore, the owners of Banks One Stop Auto, James M. Banks and Tanna Banks, are now permanently barred from operating or managing any auto dealership in Indiana.
Indiana Secretary of State Diego Morales emphasized the importance of this action, stating, “This decision is rooted in protecting Hoosiers and preserving trust in the Indiana auto industry. As your Secretary of State, I will always fight to uphold the law, protect Hoosiers, and hold bad actors accountable. The vast majority of Indiana dealers are honest and hardworking. We expect integrity from our auto dealers.”
In addition to the license revocation and lifetime ban for the owners, Banks One Stop Auto has been ordered to return all metal dealer plates within the next 30 days. The dealership must also pay a $250 fine related to the audit conducted by the Auto Dealer Services Division. Failure to comply with these requirements will result in further penalties.
Hoosiers seeking more information about auto dealer services or wanting to verify a dealership’s status can visit the Indiana Secretary of State’s Auto Dealer Services website at https://dealers.sos.in.gov/.
