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December 2017, F&I and Showroom - Feature

Rich Cordray’s Legacy and The Future of the CFPB

By Lucy Morris

A former bureau official reflects on her time under former CFPB Director Richard Cordray, and explains why the industry shouldn’t be breathing a sigh of relief with his departure.

Tags: auto finance, CFPB, compliance, dealer participation, Donald Trump, Hudson Cook LLP

August 2017, F&I and Showroom - Feature

Examining the CFPB’s Arbitration Rule

By Thomas B. Hudson, Esq.

Legal experts break down the Consumer Financial Protection Bureau’s new arbitration rule and how it could affect your dealership.

Tags: arbitration agreements, auto finance, CFPB, compliance, F&I products, Richard Cordray, vehicle service contracts

March 2017, F&I and Showroom - WebXclusive

5 Ways Trump Can Alter Finance

President Donald Trump promised sweeping regulatory reform on the campaign trail and could play a pivotal role in easing or eliminating some regulations affecting the auto finance industry. Photo by Gage Skidmore

By Christian Scali and Monica Baumann

Auto dealer regulations face an uncertain future under the Trump presidency. Two California-based attorneys take a look at the road ahead for the CFPB, the FTC, and state regulators.

Tags: arbitration agreements, Attorney General, CFPB, dealer participation, Donald Trump, FTC

December 2016, F&I and Showroom - Feature

4 Compliance Predictions for 2017

By Gil Van Over

The magazine’s compliance pro dusts off his crystal ball to offer a few predictions for 2017. If he’s correct, F&I offices could be in for a challenging year.

Tags: CFPB, compliance, Negative Equity, subprime

December 2016, F&I and Showroom - WebXclusive

A Final Message From the Chairman

By Jeff Carlson

Jeff Carlson reflects on his term as the NADA’s 2016 chairman, highlighting the association’s victories as well as the challenges ahead.

Tags: CFPB, Jeff Carlson, NADA Chairman, NADA Convention and Expo

December 2016, F&I and Showroom - Feature

Defining the Dark Side

By Gil Van Over

There’s one way to keep federal regulators, plaintiffs’ attorneys, attorneys general and the media at bay. Read on to find out what it is.

Tags: CFPB, Dodd-Frank Act, F&I, FTC, Regulators

December 2016, F&I and Showroom - Feature

Is the Dragon Dead?

By Tom Hudson

The magazine’s legal eagle believes the CFPB is more annoyed than wounded by the federal appellate court’s ruling that its single-director structure is unconstitutional.

Tags: CFPB, Court Decision, Finance, Regulations

November 2016, F&I and Showroom - WebXclusive

NADA Economist: Trump Needs to Clarify Economic Policy Goals

By Steven Szakaly

NADA Chief Economist Steven Szakaly says a clear set of economic policy goals delivered before the New Year would go a long way to ensuring that any immediate uncertainties are smoothed over.

Tags: CFPB, Donald Trump, NADA, Steven Szakaly

November 2016, F&I and Showroom - Feature

Formalized and Documented

By Gil Van Over

The magazine's compliance pro believes the FTC may soon take a page out of the CFPB's playbook when it comes to regulating dealers. He explains how dealers can get prepared.

Tags: CFPB, compliance, F&I, FTC

August 2016, F&I and Showroom - WebXclusive

Certified for the Future

By James S. Ganther, Esq.

The magazine’s compliance pro breaks down Compliance Summit’s new certification component. He explains how it’s designed to address the industry’s true regulator.

Tags: CFPB, compliance, Compliance Summit, F&I manager, FTC, James Ganther

June 2016, F&I and Showroom - Feature

Hanging in the Balance

With moderator Robert Harkins looking on, Mosaic Compliance Services’ Jim Ganther offered his take on what the November elections could mean to the men and women manning the F&I office. If a Democrat is elected president, he said, the Consumer Financial Protection Bureau’s fair lending crackdown could intensify.

By Gregory Arroyo

The compliance gurus at F&I Think Tank agreed that a lot is riding on the outcome of November’s presidential elections — including the fate of the F&I department.

Tags: Adverse Action Notice, CFPB, compliance, Dealer Summit, F&I products

March 2016, F&I and Showroom - Feature

4 Social Media Landmines

Photo courtesy of iStock.

By Eric Gandarilla

Dealership expert identifies four common landmines dealers run into when marketing on social media, and offers recommendations for staying out of the crosshairs of regulators.

Tags: CFPB, compliance, FTC, Policies, social media

December 2015, F&I and Showroom - Feature

'Tis the Season to Count Our Blessings

By Dave Robertson

The AFIP’s executive director gives thanks to the regulators and the regulations they enforce. He explains why dealers should do the same.

Tags: AFIP, CFPB, FTC

November 2015, F&I and Showroom - Feature

R.I.P. Payment Packing

By David Robertson

The AFIP’s executive director says it’s time to say goodbye and good riddance to a relic of F&I’s past. He explains why ‘a little wiggle room’ hurts new-car gross and puts sales at risk.

Tags: AFIP, Association of Finance and Insurance Professionals, CFPB, Consumer Financial Protection Bureau, F&I manager, F&I products, interest rates, payment packing

August 2015, F&I and Showroom - WebXclusive

Solving the CFPB Problem

By Gregory Arroyo

The man who has led the NADA’s regulatory advocacy efforts since 2006 believes the tide may be turning in the CFPB’s attack on dealer participation.

Tags: Andy Koblenz, CFPB, Consumer Financial Protection Bureau, discrimination, Honda Financial Services, NADA, National Automobile Dealers Association, rate markup

August 2015, F&I and Showroom - Feature

Price Point

By Brittany-Marie Swanson

The New York attorney general’s crackdown on an F&I product provider and the dealerships that sold its credit repair services comes at a time when federal regulators are expected to tighten the screws on add-on sales.

Tags: Attorney General, CFPB, Consumer Financial Protection Bureau, credit repair, Eric Schneiderman, F&I products, New York, Paragon Honda

July 2015, F&I and Showroom - Feature

Supreme Court Upholds Disparate Impact

By Brittany-Marie Swanson

The CFPB won’t lose a key weapon in its auto-lending crackdown, but the court’s 5-4 decision does open the door to challenges in auto finance.

Tags: AFSA, American Financial Services Association, CFPB, Consumer Financial Protection Bureau, Disparate Impact, Supreme Court

July 2015, F&I and Showroom - Feature

What’s the Price?

By Eric Judson

A business manager from Buffalo, N.Y., offers his take on U.S. Bank’s announcement that it will monitor F&I product pricing.

Tags: CFPB, Consumer Financial Protection Bureau, Dealer Financial Services, F&I pricing, F&I products, MILES program, U.S. Bank

May 2015, F&I and Showroom - Feature

Spin Control

By Tom Hudson

The magazine’s resident legal insider says the media departments at two of the industry’s top regulators got a little too creative with their recent work.

Tags: CFPB, Consumer Financial Protection Bureau, Dodd-Frank Act, Federal Trade Commission, FTC, Tom Hudson

April 2015, F&I and Showroom - Feature

Legal Columnist Questions CFPB Report on Arbitration Clauses

By Tom Hudson

The CFPB’s latest report on arbitration clauses has a lot of holes, leaving the magazine’s legal eagle wondering what the regulator’s game is.

Tags: Arbitration, arbitration agreements, CFPB, CFPB study, Consumer Financial Protection Bureau, Tom Hudson

October 2014, F&I and Showroom - Feature

Delivering the Beef

By Dave Robertson

The AFIP’s executive director opens up about what he hopes to accomplish when he meets with the top brass at the CFPB.

Tags: AFIP, CFPB, F&I, Regulations

October 2014, F&I and Showroom - Feature

4 Steps to CFPB Compliance

By David Childers and Patty Covington

Compliance pros lay out a plan for keeping regulators at bay. If followed, the four-step plan may also help with a dealership’s customer-retention efforts.

Tags: CFPB, compliance, Regulations

September 2014, F&I and Showroom - Feature

Preparing for the Meeting

By David Robertson

The executive director of the Association of Finance and Insurance Professionals explains why he looks forward to a meeting with the Consumer Financial Protection Bureau’s new assistant director.

Tags: CFPB, Consumer Financial Protection Bureau, Hudson Cook LLP, Tom Hudson

September 2014, F&I and Showroom - Feature

Satisfying Customers and the CFPB

By Jim Ganther

Compliance expert explains how dealers can turn the tables on the Consumer Financial Protection Bureau by using the agency’s own guidance to respond to complaints.

Tags: CFPB, Consumer Financial Protection Bureau, customer satisfaction

August 2014, F&I and Showroom - Feature

F&I Products at Center of Legislative Battles in Four States

Members of the Florida Automobile Dealers Association descend on the state’s capitol for Dealer Day, an event designed to show support for legislation backed by the association.

By Brittany-Marie Swanson

Legislation regulating the influence captive finance sources have on F&I product sales has popped up around the nation this year, but the industry disagrees on what is driving these state-by-state battles.

Tags: Aftermarket Products, CFPB, Consumer Financial Protection Bureau, Florida, legislation, Mississippi, New York

March 2014, F&I and Showroom - Cover Story

CFPB Takes Center Stage

By Gregory Arroyo

Strong words at NADA 2014 and the Vehicle Finance Conference indicate that both sides of the rate participation debate are preparing for a long, drawn-out battle.

Tags: AFSA Vehicle Finance Conference, CFPB, Chase Auto Finance, Consumer Financial Protection Bureau, Department of Justice, discrimination, econtracting, Forrest McConnell, GM Financial, NADA Convention and Expo, National Automobile Dealers Association, Toyota Financial Services, Zurich Financial Services

January 2014, F&I and Showroom - Feature

5 Regulatory Predictions for 2014

By Nicole Munro

The magazine’s legal insider offers her predictions for 2014. None of them should be surprising, but the industry is in for a ride if her forecast is realized.

Tags: arbitration agreements, CFPB, Civil Investigative Demand, Consumer Financial Protection Bureau, discrimination, Regulations

January 2014, F&I and Showroom - Feature

10 Regulatory Hot Spots for 2014

By George Angus

The “Father of the F&I Menu” offers his list of 10 regulatory hot spots for 2014, several of which fall outside of the F&I manager’s jurisdiction.

Tags: CFPB, compliance, Consumer Financial Protection Bureau, Deceptive Practices, discrimination, Dodd-Frank Wall Street Reform and Consumer Protect, Federal Trade Commission, payment packing

December 2013, F&I and Showroom - Feature

The CFPB’s Flexible Jurisdiction

By Nicole Munro

The magazine’s legal insider doesn't believe the bureau has jurisdiction over the F&I products industry, but she admits there’s too much gray area in the Dodd-Frank Act to know for sure.

Tags: CFPB, Consumer Financial Protection Bureau, Dodd-Frank Act, F&I products, lenders, Nikki Munro, pricing discrimination

December 2013, F&I and Showroom - Cover Story

Showdown in D.C.

By Brittany-Marie Swanson

Industry representatives and consumer advocacy groups squared off in Washington, D.C., last month for the CFPB’s first public forum on auto lending. The event revealed the tightrope the bureau is walking between preserving a rebounding market and strengthening consumer protections.

Tags: Brittany-Marie Swanson, CFPB, Consumer Financial Protection Bureau, Department of Justice, Federal Trade Commission, pricing discrimination, Randy Henrick, Richard Cordray

November 2013, F&I and Showroom - Feature

Sizing Up the CFPB’s Threat

The NADA’s David Westcott says a move to a flat-fee system would hurt consumers, not just dealers.

By Gregory Arroyo

The F&I Conference’s compliance panel offered up more questions than answers, but participants made clear the industry’s newest regulator has plenty of tools at its disposal.

Tags: CFPB, compliance, Consumer Financial Protection Bureau, David Westcott, discrimination, Dodd-Frank Act, NADA, National Automobile Dealers Association, Terry O'Loughlin

November 2013, F&I and Showroom - Feature

Alphabet Soup

By Nikki Munro

The CFPB, FRB and DOJ joined forces to host a fair lending webinar. The latter two shed some light on their approach to determining rate discrimination, but the CFPB’s standards for determining disparate impact remain a mystery.

Tags: CFPB, compliance, Consumer Financial Protection Bureau, discrimination, Regulations

November 2013, F&I and Showroom - Feature

A More Transparent F&I

F&I and Showroom’s Gregory Arroyo (center) moderates a panel discussion between executives from five F&I product providers. Among the topics covered was how the Internet is testing current F&I processes.

By Editorial Staff

At this year’s Industry Summit, F&I product providers discussed everything from the CFPB to CPO. They also weighed in on the future of the F&I office.

Tags: American Auto Guardian, AUL Corp., CFPB, Consumer Financial Protection Bureau, David Duncan, GSFSGroup, Jimmy Atkinson, Safe-Guard, Steve Amos, Tim Brugh

August 2013, F&I and Showroom - Feature

MILES to Go

By Michael Benoit

After reading the CFPB’s consent order against U.S. Bank and its nonbanking partner, the magazine’s legal insider concludes the bureau is one heck of a negotiator.

Tags: banks, CFPB, dealers, DFS, loans, MILES program, U.S. Bank

July 2013, F&I and Showroom - Feature

Taking Fire

The NADA’s David Wescott says the CFPB has yet to reveal evidence that disparate impact exists in the indirect financing channel.

By Brittany-Marie Swanson

Until last month, the CFPB was doing a lot more aiming than shooting. But its first enforcement action against an auto finance source and its partner company proves the agency isn’t firing blanks.

Tags: Brittany-Marie Swanson, CFPB, Consumer Financial Protection Bureau, discrimination, Richard Cordray, Richard Hackett

July 2013, F&I and Showroom - Feature

Friendly Adversaries

By Michael Benoit

In paying tribute to Rick Hackett, the CFPB’s parting assistant director, the magazine’s legal insider says the industry lost a key connection to its newest regulator.

Tags: CFPB, Consumer Financial Protection Bureau, Richard Hackett

May 2013, F&I and Showroom - Feature

4 Realities of F&I

By David Robertson

The man behind the industry’s only sanctioning body for the F&I trade returns to offer his take on today’s regulatory environment.

Tags: AFIP, CFPB, Civil Penalties, Consumer Financial Protection Bureau

May 2013, F&I and Showroom - Feature

The Guidance That Isn’t

By Michael Benoit

The magazine’s legal eagle doesn’t mince words when he describes the ‘logical disconnect’ between the CFPB’s view of fair lending and how dealer participation really works.

Tags: CFPB, Consumer Financial Protection Bureau, Legal

May 2013, F&I and Showroom - Feature

Fair Warning

By Stephanie Forshee

Now, more than ever, dealers are left with unanswered questions about finance reserve, discriminatory lending and other regulatory concerns. Two attorneys share their opinions on those topics with F&I and Showroom.

Tags: CFPB, Consumer Financial Protection Bureau, discrimination, Finance, reserve

February 2013, F&I and Showroom - Feature

Say Goodbye to Arbitration Agreements?

By Tom Hudson

The magazine’s legal eagle dusts off his crystal ball to make his annual regulatory predictions. This year, he makes four bold predictions that every dealer needs to read.

Tags: 2013, arbitration agreements, CFPB, FTC, Legal, Predictions, regulation, Tom Hudson

August 2012, F&I and Showroom - Feature

Don't Be a Target

Randy Henrick

By Randy Henrick

The new U.S. consumer financial watchdog has pledged to aggressively pursue discriminatory lending practices. Legal insider provides recommendations on how to ensure your store isn’t caught in the crossfire.

Tags: CFPB, Dodd-Frank Act, ECOA, Randy Henrick, Regulation B

May 2012, F&I and Showroom - Feature

Facts, Anyone?

By Tom Hudson

Stories about dealer practices that harm consumers are prevalent, but the facts seem to be difficult to come by.

Tags: CFPB, compliance, FTC, Hudson Cook LLP

March 2012, F&I and Showroom - Feature

Vegas Musings

By Tom Hudson

The magazine’s resident legal wiz reports on what he saw and heard at the industry’s annual get-together last month, including reports of dealer investigations being conducted by the Federal Trade Commission.

Tags: CFPB, Consumer Financial Protection Bureau, Federal Trade Commission, NADA, NADA Convention and Expo, spot delivery

February 2012, F&I and Showroom - Feature

10 Predictions for 2012

By Tom Hudson

The magazine’s legal wiz shines up his crystal ball to offer his predictions on how the CFPB and the FTC will flex their regulatory muscles in 2012.

Tags: CFPB, Consumer Financial Protection Bureau, FEDERAL REGULATION, Federal Trade Commission, Legal, legislation

February 2012, F&I and Showroom - Feature

Reading the Tea Leaves

By Tom Hudson

The industry has been waiting for signs on how the CFPB would approach anything auto. The magazine’s resident legal wiz says the agency has finally tipped its hand.

Tags: bhph, bhph dealers, buy-here, CFPB, Consumer Financial Protection Bureau, National Alliance of Buy Here, pay-here

January 2012, F&I and Showroom - Feature

A New Game Plan

By Gil Van Over

Dealers have done well to defend themselves against the oncoming blitz of new regulations, but the magazine’s newest compliance expert says there are a few downs left to play.

Tags: CFPB, compliance, Consumer Financial Protection Bureau, Federal Trade Commission, Legal, TILA, Truth in Lending Act

December 2011, F&I and Showroom - Feature

Just the Facts, Ma’am

By Michael A. Benoit

After sitting through three roundtables’ worth of tired anecdotes from consumer advocates, the magazine’s legal expert hopes the FTC will keep its word and rely on empirical data before instituting new regulations.

Tags: CFPB, compliance, Consumer Financial Protection Bureau, Legal, legislation

October 2011, F&I and Showroom - Feature

A Tale of Two Agencies

By Michael A. Benoit

Do you know who your regulator is? The answer may not be as clear-cut as you think. The magazine’s legal wiz weighs in.

Tags: CFPB, Consumer Financial Protection Bureau, Federal Trade Commission, Legal, legislation

July 2011, F&I and Showroom - Feature

More Questions than Answers as CFPB Gets Set to Go Live

By Tom Hudson

The leadership may still be up for grabs at the CFPB, but the newly formed consumer watchdog agency will hit the ground running on July 21.

Tags: CFPB, compliance, Consumer Financial Protection Bureau, Finance, Legal

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Blog

So Here's the Deal

Ronald J. Reahard
Selling Warranty Compliance Plans

By Ronald J. Reahard
Do-it-yourself customers will tell you they prefer to save a few bucks by performing their own maintenance. F&I trainer has the perfect response for this common objection.

Handling the ‘Last Car’ Objection

By Ronald J. Reahard
Older clients who say they are buying their last car need to be protected just as much as a first-time buyer. The magazine’s resident F&I pro explains.

Sold But Not Closed

By Ronald J. Reahard

(Video) Measuring Up

By Ronald J. Reahard

Done Deal

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Still a Work in Progress

By Gregory Arroyo
The editor explains why he put another digital retailing startup on the cover and looks at two studies that point to online car buying and financing still being a work in progress.

It Is Unwise to Lower Your Defenses

By Gregory Arroyo
The editor wonders how regulators, including two new mini-CFPBs in Pennsylvania and Maryland, view a consumer advocacy group’s highly critical report on how dealers price F&I protections.

What's Really Behind the Subprime Pullback?

By Gregory Arroyo

What’s Your Take?

By Gregory Arroyo

Mad Marv

Marv Eleazer
Love It or Leave It

By Marv Eleazer
His Madness is reminded that excelling at F&I requires true passion for the craft. He offers a few suggestions for staying focused and mentally sharp.

G.O.Y.A.

By Marv Eleazer
His Madness wants more F&I managers to improve turnover rates by taking an active role in the sales process.

The Little Things

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Industry Summit: It’s Worth the Investment

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On the Point

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Sharpen Your Survival Skills

By Jim Ziegler
‘Da Man’ has a plan you can use to survive the collapse of the car business and remain profitable through the dealer apocalypse.

Sales Rock Stars Still Exist

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Da Man says $40,000-a-month sales rock stars still exist. He says you’ll find them on YouTube and Facebook Live.

The New Stooges

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Is Your Quick Lube Driving Away Business?

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