Vincennes auto dealer has license revoked

Thursday, April 17, 2025 at 7:39 AM

By Staff report

James M. Banks and Tanna Banks are barred for life from operating or managing a dealership in the State of Indiana.

Indiana Secretary of State Diego Morales announced the revocation of the dealer license held by Banks One Stop Auto, located in Vincennes.

This follows an in-depth investigation led by the Indiana Auto Dealer Services Division.

After receiving several complaints, the Division initiated an investigation into Banks One Stop Auto on July 31, 2024. Upon examination of the dealership’s records and interviews with multiple affected parties, the Division concluded that the dealership engaged in fraudulent practices, including the submission of falsified forms to the Indiana Bureau of Motor Vehicles. At least one individual’s signature was used without their knowledge or authorization, and as many as ninety-two forms may have been affected.

As a result of these serious violations, the dealership’s license has been officially revoked, and the owners, James M. Banks and Tanna Banks, are barred for life from operating or managing a dealership in the State of Indiana.

Additionally, the dealership must return all metal dealer plates within 30 days and pay a $250 fine related to the audit. Failure to comply will result in further penalties.