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TAG SEARCH RESULT: Consumer FInancial Protection Bureau

May 2017, F&I and Showroom - Feature

Playing With Fire

©iStockphoto.com/egdigital 

By Christian Scali and Monica Baumann

Two attorneys issue a warning about a new sales trick circulating through the industry. Their advice: If it’s too good to be true, it probably is.

Tags: compliance, Consumer FInancial Protection Bureau, digital marketing, digital retailing, Eric Schneiderman, fraud, FTC Act, Internet Leads, NY Attorney General, payment packing, sales, UDAP

February 2016, F&I and Showroom - Feature

The CFPB's Misguided Crusade

By Dave Robertson

AFIP's executive director has some choice words for President Obama, Sen. Warren and the 'smartest guys in the room.'

Tags: Consumer FInancial Protection Bureau, Dodd-Frank Act, President Obama

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

Take a S.W.O.T. at Success

By David Robertson

Given the many changes taking place in the F&I field, the AFIP’s executive director says a little self-inspection is in order if you hope to win the F&I trifecta.

Tags: AFIP, Consumer FInancial Protection Bureau, David Robertson, Federal Trade Commission, rate markup, Regulations

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

March 2015, F&I and Showroom - Feature

Ready to Charge

By Gregory Arroyo

Auto finance sources reveal that they, too, are focused on the customer experience, and say they are ready for what’s expected to be another great year for auto sales.

Tags: AFSA, AFSA Vehicle Finance Conference, Ally Financial, Auto Lending, Capital One Auto Finance, Chase Auto Finance, Consumer FInancial Protection Bureau, Department of Justice, Experian Automotive, Finance, J.D. Power and Associates, NADA Convention & Expo, subprime, Wells Fargo, World Omni Financial Corp.

March 2015, F&I and Showroom - Feature

Seismic Shift

By Nicole Munro

The magazine’s resident legal expert offers her take on why state and federal regulators were so active in auto finance at the close of 2014.

Tags: Consumer FInancial Protection Bureau, Department of Justice, Federal Trade Commission, Hudson Cook LLP, Nikki Munro

February 2015, F&I and Showroom - Feature

Passing the Compliance Test

By John Lovin

The current regulatory environment demands that dealers take a good hard look at their processes and policies. F&I pro offers some recommendations.

Tags: Auto Lending, compliance, Consumer FInancial Protection Bureau, Dodd-Frank Act, Regulations, vehicle service contracts

January 2015, F&I and Showroom - Feature

5 Steps to Trouble-Free F&I

By David Robertson

The AFIP’s executive director says it’s possible to have the best of all F&I worlds. He details a plan for satisfying customers, increasing revenues and avoiding regulatory hassles.

Tags: AFIP, Consumer FInancial Protection Bureau, customer satisfaction, David Robertson

January 2015, F&I and Showroom - Feature

7 Regulatory Predictions for 2015

By Tom Hudson

The magazine’s resident legal wiz dusts off his crystal ball and offers his regulatory forecast for the coming year.

Tags: ancillary products, arbitration agreements, Consumer FInancial Protection Bureau, Federal Trade Commission, FTC, Regulations, Tom Hudson

January 2015, F&I and Showroom - Feature

Changing the F&I Experience

By Gregory Arroyo

Larry Dorfman founded APCO/EasyCare on the premise that car buyers are his true customers. Now he and his team are riding shotgun on Sonic Automotive’s drive toward a new customer experience.

Tags: Consumer FInancial Protection Bureau, EasyCare, F&I menus, hybrid manager, Internet Shopper, Larry Dorfman, Sonic Automotive

November 2014, F&I and Showroom - Feature

From the Boardroom

By Gregory Arroyo

The CFPB was top of mind, but company representatives serving on Industry Summit’s annual executive panel delved into other hot-button issues impacting dealers and their F&I offices.

Tags: Consumer FInancial Protection Bureau, Executive Panel, Rick Hackett, The Warranty Group, Tony Wanderon

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

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

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

June 2011, F&I and Showroom - Feature

Dealers Guide to Compliance

The multimillion-dollar settlement against five captive lenders for discriminatory practices early last decade will be fresh in regulators’ minds for years to come. Dealers who demonstrate a willingness and ability to play within the rules will benefit as auto lending continues its comeback.

By Joe Bartolone

Before you select your next compliance software tool, read this primer on connecting technology to your dealership’s compliance processes.

Tags: compliance, Consumer FInancial Protection Bureau, e-contracting, electronic document storage, Federal Trade Commission, technology

March 2011, F&I and Showroom - Feature

Spot Deliveries: Pitch the Bathwater, Not the Baby

By Tom Hudson, Esq.

There still is room in auto retail for spot deliveries, but a balance between the needs of dealers and consumer advocates must be struck.

Tags: Consumer FInancial Protection Bureau, spot delivery

August 2010, F&I and Showroom - Feature

Lost in Translation

By Tom Hudson and Michael Benoit

If you think dealers have won exemption from financial reform, read on. The magazine’s legal experts team up to translate this highly anticipated legislation.

Tags: Consumer FInancial Protection Bureau, financial legislation, financial reform

December 2009, F&I and Showroom - Feature

Legislative Battle Far From Over

By Michael Benoit

One amendment down, many more to go as automotive dealers face potentially disruptive new regulations.

Tags: Consumer FInancial Protection Bureau, Legal, Michael Benoit, NADA

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