E-NEWSLETTER

By Tom Hudson

The magazine’s legal wiz shares a textbook case on what not to do when spot delivering a vehicle.

Tags: Compliance, Fair Credit Reporting Act, Federal Trade Commission, LEGAL

By Michael Benoit

The magazine’s legal columnist cites two recent cases to provide dealer guidance on the FCRA’s ‘truncation’ requirement.

Tags: Compliance, credit, Fair and Accurate Credit Transactions Act of 2003, Fair Credit Reporting Act, LEGAL

By Jim Ganther

Knowing what triggers an adverse action notice can definitely be baffling, but so can the rules governing content and timing. Legal expert weighs in with part II of F&I's series on adverse action notices.

Tags: Adverse Action Notice, AFIP, Compliance, ECOA, Fair Credit Reporting Act, Federal Trade Commission

By James S. Ganther, Esq.

Compliance expert explains what situations require dealers to send adverse action notices to consumers.

Tags: Adverse Action Notice, APR, credit applications, Denying Credit, ECOA, Fair Credit Reporting Act

By Michael Benoit

Dealers have been contracting for years with marketing companies that use so-called prescreen lists to offer auto financing to qualified consumers. The Fair Credit Reporting Act (FCRA) requires that each person on such a list receive a “firm offer of credit”.

Tags: Compliance, Fair Credit Reporting Act, LEGAL, Michael Benoit

By Michael Benoit

I’ve mentioned the Fair and Accurate Credit Transaction Act of 2003 (FACTA) several times in this column. You’ll recall that FACTA made significant amendments to the Fair Credit Reporting Act (FCRA), many in ways one may not have expected.

Tags: Compliance, Fair and Accurate Credit Transactions Act of 2003, Fair Credit Reporting Act, Federal Trade Commission, LEGAL, Michael Benoit

By Michael Benoit

You may recall the drama that played out in 2003 with regards to renewing certain provisions of the Fair Credit Reporting Act (FCRA). They were set to expire at the end of that year (if you don’t recall, trust me, folks in D.C. were losing sleep over this).

Tags: Compliance, Fair and Accurate Credit Transactions Act of 2003, Fair Credit Reporting Act, LEGAL, Michael Benoit

By Michael Benoit

You’ll notice that, from time to time, I’ll devote a column to those pesky adverse action notice requirements. For those of you who may be thinking that I do this because it’s all the law I know, let me assure you that I have other talents as well.

Tags: Adverse Action Notice, Compliance, ECOA, Fair Credit Reporting Act, LEGAL, Michael Benoit

By Stephen B. Straske

Conducting business ethically and honestly must be embraced by every employee for a compliance policy to be effective. When deviations occur, clear consequences should be upheld.

Tags: Compliance, ECOA, F&I products, Fair Credit Reporting Act, Regulation Z

By Kimberly Crossley

Although the feds are still determining how to enforce the FACT Act, it will certainly affect all businesses that deal with consumer credit information, including auto dealerships.

Tags: Fair and Accurate Credit Transactions Act of 2003, Fair Credit Reporting Act