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TAG SEARCH RESULT: Federal Trade Commission

April 2017, F&I and Showroom - Feature

Navigating the 'New' Used Car Buyer’s Guide

By Gil Van Over

The magazine’s compliance guru breaks down the Federal Trade Commission’s final revisions to the Used Car Rule. His message to dealers is don’t overthink it.

Tags: compliance, CPO, Federal Trade Commission, service contract, Used Car Buyer's Guide, Used Car Rule, warranty

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

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

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

December 2014, F&I and Showroom - Feature

Mama’s Menu

By Michael Benoit

The magazine’s legal wiz says regulations don’t offer much guidance when it comes to F&I menu usage. But he says there’s an unofficial rule F&I managers should consider.

Tags: Federal Trade Commission, Hudson Cook LLP, Michael Benoit, Regulations

October 2014, F&I and Showroom - Feature

Preparing for the Advertising Police

By Joel Winston

A former FTC official and current partner with Hudson Cook LLP issues a warning about dealer advertising.

Tags: Deceptive Advertising, Federal Trade Commission, Hudson Cook LLP, Legal, Regulations

March 2014, F&I and Showroom - Feature

Sweeps, Standards and the FTC

By Michael Benoit

The magazine’s resident legal wiz revisits the FTC’s standard for deception in response to the agency’s crackdown on false advertising.

Tags: Deceptive Advertising, Federal Trade Commission, FTC, Michael Benoit

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 - 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

January 2013, F&I and Showroom - Feature

5 Compliance Checkpoints

By Gil Van Over

The magazine’s resident compliance auditor provides a checklist that will help your store steer clear of state and federal regulators in 2013.

Tags: F&I manager, Federal Trade Commission, Gil Van Over, gvo3 & Associates, OFAC, Red Flags Rule, TILA

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

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

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

September 2011, F&I and Showroom - Feature

Spotting by the Book

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

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

June 2011, F&I and Showroom - Feature

Social Policymaking Is Not the Solution

By Michael A. Benoit

Can the FTC balance what consumer advocates want and what industry reps say is needed? The magazine’s legal wiz says that time will tell.

Tags: Dodd-Frank Act, FEDERAL REGULATION, Federal Trade Commission, Michael Benoit

May 2011, F&I and Showroom - Feature

Impressions From Detroit

By Tom Hudson

Thanks in part to recycled anecdotes from consumer advocates, the industry fared better than expected at the FTC’s first roundtable discussion.

Tags: compliance, Federal Trade Commission, Legal

April 2011, F&I and Showroom - Feature

The FTC Hits the Road

By Michael Benoit

The magazine’s legal wiz questions how easily the Federal Trade Commission can shift gears from enforcement body to policy maker.

Tags: Dodd-Frank Act, Federal Trade Commission, Legal, payment packing, spot delivery

February 2011, F&I and Showroom - Feature

Brave New World

By Michael Benoit

The fed and consumer advocates are at it again. The magazine’s legal expert tackles the latest attacks on finance reserve and spot deliveries.

Tags: Federal Trade Commission, Finance, spot delivery

January 2011, F&I and Showroom - Feature

The Hunt for Noncompliant Dealers

By Tom Hudson

The FTC has been poking around at some dealerships in recent months. What is the agency looking for? The magazine’s legal expert weighs in.

Tags: compliance, Federal Trade Commission

January 2011, F&I and Showroom - Feature

First Line of Defense

By Gregory Arroyo

Karina Grile worked overtime to get Voss Auto Network’s stores in line with the industry’s newest rule — one that experts say could be a blessing in disguise.

Tags: compliance, CoreLogic Credco, Dealertrack, Federal Trade Commission, Red Flags Rule, Reynolds & Reynolds, RouteOne, Voss Auto Network, Wolters Kluwer Financial Services

December 2010, F&I and Showroom - Feature

The Exception is the Rule

By Michael A. Benoit

F&I’s legal wiz serves up a nice reminder of two federal rules coming down the pike in January. Are you ready?

Tags: compliance, Dealertrack, Fair and Accurate Credit Transactions Act of 2003, FEDERAL REGULATION, Federal Trade Commission, RouteOne

October 2010, F&I and Showroom - Feature

Is That Legal?

By Michael Benoit

Can you raise the price of a vehicle to cover a high bank fee? Get that answer and more from the magazine’s legal expert.

Tags: Federal Trade Commission, Legal, Michael Benoit, Truth in Lending Act

June 2010, F&I and Showroom - Feature

A Bona-Fide Defense

The bona-fide and good-faith precedent was set by two U.S. Supreme Court rulings in 1998. Today, those rulings guide how regulations are written and how organizations comply.

By Jim Lawrence

What exactly does the Federal Trade Commission mean by ‘bona fide’ or ‘good faith’? With the Red Flags Rule set to go live this month, dealer compliance expert provides the answer.

Tags: compliance, Federal Trade Commission, Red Flags Rule

April 2010, F&I and Showroom - Feature

Industry on the Rebound

(Left to right) Thomas Wolfe, president and CEO of Wachovia Dealer Financial Services, John Noone, president of global marketing and sales at Ford Motor Credit Company, and Stephen Lambert, president and CEO of Nissan Motor Acceptance Corp., discuss the state of the auto finance industry during the CEO panel at AFSA’s 14th Annual Vehicle Finance Conference.

By Tony Dupaquier

The mood at this year’s Vehicle Finance Conference was much improved, and lenders are looking to become active once again. However, they will do so with more caution this time around.

Tags: AFSA, dealer, Fair and Accurate Credit Transactions Act of 2003, Federal Trade Commission, Finance, Risk-Based Pricing Rule

March 2010, F&I and Showroom - Feature

New Credit Rules Decoded

By Randy Henrick

Risk-Based Pricing Rules represent the latest in consumer-protection regulations, but they aren’t easy to decipher. Compliance expert breaks down the rules and offers some guidance.

Tags: compliance, credit reports, Credit Scores, Federal Trade Commission, Risk-Based Pricing Notices

February 2010, F&I and Showroom - Feature

Time to Uphold Our Job Requirement

By Gregory Arroyo

The verdict on the impact of the Fed's new rule is still out, but its requirements might just be what the doctor ordered for our business.

Tags: Adverse Action Notice, compliance, Fair and Accurate Credit Transactions Act of 2003, Federal Reserve, Federal Trade Commission, Risk-Based Pricing Notices

February 2010, F&I and Showroom - Feature

Raising the Odds

By Gregory Arroyo

Three compliance experts attempt to map out a dealer’s best-chance deal. In the end, all roads lead back to compliance.

Tags: compliance, FEDERAL REGULATION, Federal Trade Commission, Truth in Lending Act

February 2010, F&I and Showroom - Feature

The Gift That Keeps on Giving

By Michael Benoit

Washington is working overtime these days, so expect 2010 to be a bumpy ride on the regulatory front.

Tags: Chrysler, Fair and Accurate Credit Transactions Act of 2003, Federal Reserve, Federal Trade Commission, General Motors, Legal, Michael Benoit, Risk-Based Pricing Rule

December 2009, F&I and Showroom - Feature

Rebooting the Robocall Rule

By Rob Cohen, Esq.

When the FTC revised its telemarketing rule, it did so to curb the use of robocalls. Compliance expert breaks down the changes.

Tags: compliance, Federal Trade Commission, Robocalls, telemarketing

November 2009, F&I and Showroom - Feature

Pulling the Trigger

By Tariq Kamal

Trigger leads can be an effective and relatively inexpensive way to bring in new customers. But like any other marketing tool, there are rules to follow and pros and cons to consider.

Tags: Fair Credit Reporting Act, Federal Trade Commission, trigger leads

September 2009, F&I and Showroom - Feature

Before Taking the Plunge…

By Thomas B. Hudson

Legal columnist Thomas B. Hudson reviews five items a dealership's related finance company should have in place before it begins buying contracts.

Tags: bhph, Federal Trade Commission, Finance, Gramm-Leach-Bliley, Legal

August 2009, F&I and Showroom - Feature

A Difference of Opinion

By Michael Benoit

There are always two sides to any story and this business always benefits from a little intellectual tug of war. That’s why I’ve invited the Center for Responsible Lending’s Josh Frank and Delvin Davis to share the center’s views on HR 2309.

Tags: Federal Trade Commission, HR 2309, Legal, Michael Benoit

April 2009, F&I and Showroom - Cover Story

12 Hot-Button Issues for 2009

By Terrence O'Loughlin and Justina Ly

As state and federal regulators increase their vigilance of finance transactions, dealers will need to be on high alert when it comes to their F&I processes. Former compliance regulator addresses F&I's brave new world of compliance.

Tags: compliance, Fair and Accurate Credit Transactions Act of 2003, FEDERAL REGULATION, Federal Trade Commission, federal usury cap, spot delivery, used vehicles

April 2009, F&I and Showroom - Feature

Part II: Tackling Adverse Action Notices

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

March 2009, F&I and Showroom - Feature

Say Hello to Your New Customer

By Gregory Arroyo

I asked the question several times while walking the show floor at the National Automobile Dealers Association’s convention in New Orleans. But it was obvious no one was ready to put their finger on when this economic crisis will turn the corner.

Tags: AFSA, Editorial Page, Federal Trade Commission, NADA

January 2009, F&I and Showroom - Feature

F&I Red Flags 101

By Gregory Arroyo

A Red Flag is a pattern, practice or specific activity that indicates the possible existence of identity theft.

Tags: FEDERAL REGULATION, Federal Trade Commission, fraud, identity theft, Red Flags Rule

December 2008, F&I and Showroom - Feature

Game On for Red Flags

By Michael Benoit

Many financial institutions and creditors around the country have spent the last six or so months working diligently to implement their identity theft prevention programs as mandated by Congress and the Federal Trade Commission’s new Red Flags Rule.

Tags: compliance, Federal Trade Commission, Legal, Michael Benoit, Red Flags Rule

October 2008, F&I and Showroom - Feature

FTC Disconnecting Telemarketing

By Michael Benoit

Dealers have all kinds of technology available these days to help them increase profitability, operate more efficiently, and generally make their lives easier. Like anything else, technology can come with legal baggage, and care must be taken to avoid an unintended compliance violation.

Tags: compliance, Federal Trade Commission, Legal, Michael Benoit, telemarketing

August 2008, F&I and Showroom - Feature

Investigatory Etiquette

By Michael Benoit

Many dealers I talk to have an appreciation for the value good compliance practices bring to their operation.

Tags: compliance, Federal Trade Commission, Legal, Michael Benoit

July 2008, F&I and Showroom - Feature

New Disclosure Rule Proposed for Auto Finance Customers

By Michael Benoit

Way back in 2003, Congress passed the Fair and Accurate Credit Transactions Act (FACTA). We’ve talked about it a lot in this column. For us lawyers, it’s the gift that keeps on giving, and it just gave again with the recent proposal for the last of the major rules it mandated.

Tags: compliance, Fair and Accurate Credit Transactions Act of 2003, Federal Reserve, Federal Trade Commission, Legal, Michael Benoit

May 2008, F&I and Showroom - Feature

What’s On Your Receipt?

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

February 2008, F&I and Showroom - Feature

Paying Attention Does Cost Less

By Michael Benoit

Since 2003, I’ve been running around the country trying to impress upon people the fact that the Federal Trade Commission (FTC) is serious when it comes to safeguarding consumer information.

Tags: compliance, Federal Trade Commission, Legal, Michael Benoit

November 2007, F&I and Showroom - Feature

31 Reasons to be Worried

By Gregory Arroyo

A post made on Oct. 2 on the magazine’s F&I Forum made me think, “What a great story of a dealer doing it right.” But that was before I talked to Mark O’Neil, CEO of DealerTrack, about something he discussed during his keynote address at the magazine’s September F&I Conference and Expo.

Tags: Dealertrack, Editorial Page, F&I Conference & Expo, Fair and Accurate Credit Transactions Act of 2003, Federal Trade Commission, Red Flags Rule

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Blog

So Here's the Deal

Ronald J. Reahard
Sold But Not Closed

By Ronald J. Reahard
An F&I manager from Atlanta had a service contract sold to a cash customer — that’s until he went for more. The magazine’s resident F&I pro weighs in.

(Video) Measuring Up

By Ronald J. Reahard
Top trainer has a three-part answer for an F&I newbie who wants to know how he measures up against his peers.

It's OK to Be Nervous

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(Video) Have a Real Conversation

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Done Deal

Gregory Arroyo
What's Really Behind the Subprime Pullback?

By Gregory Arroyo
One F&I insider says there’s more to the subprime pullback than the recent uptick in delinquencies. He says regulators are the real reason finance sources are so risk-averse.

What’s Your Take?

By Gregory Arroyo
The editor provides an up-close look at the topics he hopes to cover during his Industry Summit 2017 panel session. He’d also like to hear your take on these hot-button issues.

Connecting the Dots

By Gregory Arroyo

See You in Big D

By Gregory Arroyo

Mad Marv

Marv Eleazer
The Little Things

By Marv Eleazer
Reading about one of the first-known cybercrimes gets His Madness thinking about how small issues can morph into big problems.

Industry Summit: It’s Worth the Investment

By Marv Eleazer
Reflecting on the returns of a well-trained service technician, His Madness has a message for dealers who think F&I training isn’t worth the investment.

6 Ways to Deliver Exceptional Service

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Doing Our Part

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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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