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TAG SEARCH RESULT: Legal

June 2016, F&I and Showroom - Feature

Vital Signs

By Tom Hudson

The magazine’s resident legal wiz explains how a simple deal jacket review can offer a compelling case for a full compliance checkup.

Tags: compliance, Deal Jacket Review, Legal

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

October 2013, F&I and Showroom - Feature

Pass the Fee

By Tom Hudson

Can dealers pass bank fees onto car buyers? The magazine’s legal wiz says it depends, then lists eight conditions that would make it OK.

Tags: acquisition fees, automotive, bank fees, Legal, Tom Hudson

September 2013, F&I and Showroom - Feature

Failure to Pay

By Tom Hudson

Can a failure to pay off a customer’s trade-in lead to a Truth in Lending Act violation? The magazine’s legal wiz details a case involving a consumer who made such a claim.

Tags: Hudson Cook LLP, Legal, Tom Hudson, Truth in Lending Act

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

April 2013, F&I and Showroom - Feature

Relationships Gone Wrong

By Tom Hudson

The magazine’s legal eagle delves into the dust-up between Union Bank and Car Mart. It’s a must-read for dealers considering bank assistance for an operating expense.

Tags: banks, lawsuits, Legal, loans, Tom Hudson

March 2013, F&I and Showroom - Feature

Red Flag Update Defines 'Creditor'

By Michael A. Benoit

Whatever you’ve heard about the Red Flags Rule, the FTC’s weapon against identity theft is still in play for most dealers. But there are some changes to consider.

Tags: automotive, FTC, Hudson Cook, identity theft, Law, Legal, Michael A. Benoit, prevention, Regulations

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

October 2012, F&I and Showroom - Feature

Paper Trails

By Gil Van Over

Things don’t always go smoothly in the daily grind of dealership life. That’s why a good paper trail is critical to keeping your store out of the crosshairs of hungry plaintiffs’ attorneys.

Tags: auto dealer, compliance, F&I, Gil Van Over, Legal, plaintiff's attorney

August 2012, F&I and Showroom - Feature

Borderline Issues

By Michael Benoit

The Internet has made out-of-state sales a day-to-day occurrence. But the magazine’s legal insider says there are some precautions dealers need to consider.

Tags: Hudson Cook LLP, Legal, Michael Benoit, out-of-state auto sales

June 2012, F&I and Showroom - Feature

The Legal Pros and Cons of Video Recording F&I

By Michael Benoit

The magazine’s resident legal expert lays out a checklist of considerations your store needs to make before installing an F&I video-recording system.

Tags: F&I, F&I video-recording, Hudson Cook LLP, Legal, legal training, Michael Benoit

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

January 2012, F&I and Showroom - Feature

The Case of the Missing Cosigner

By Michael A. Benoit

The magazine’s resident legal wiz says a reader was right to be suspicious of a buyer whose cosigner only existed on paper. Read on for more details.

Tags: cosigner, Legal, POA, power of attorney, retail installment contracts

December 2011, F&I and Showroom - Feature

Arbitrary Enforcement

By Chip Zyvoloski

A landmark Supreme Court decision has helped to clarify the enforceability of arbitration agreements, but several key questions remain.

Tags: arbitration agreements, compliance, Legal

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

November 2011, F&I and Showroom - Feature

Documenting Doc Fees

By Tom Hudson

Before you roll your next customer, you may want to read what the magazine’s resident legal wiz has to say about doc fees and how they can be defended in court.

Tags: documentation, financial legislation, 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

August 2011, F&I and Showroom - Feature

Buy-Sell Mistakes to Avoid

By Lon Leneve

Before you think about selling or expanding your operation, check out this buy-sell primer for avoiding four possible landmines on the road to a sale.

Tags: dealer, Legal, sales, transaction prices

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

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

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

April 2010, F&I and Showroom - Feature

Truncation Redux

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

March 2010, F&I and Showroom - Feature

Connecting the Dots

By Tom Hudson

Most legal predicaments dealers find themselves in could have been averted if they'd only connected the dots. The magazine's legal wiz weighs in.

Tags: compliance, Legal

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

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

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

July 2009, F&I and Showroom - Feature

4 Threats to F&I

By Michael Benoit

Washington sure can react to a crisis, but the real question is, “How effectively can Washington react to a crisis?” Apparently not well for you, or so pending legislation on Capitol Hill would have us believe.

Tags: Legal, legislation, Michael Benoit

June 2009, F&I and Showroom - Feature

Legislators in Need of Cooling-Off Period

By Michael Benoit

On May 12, Congress held a hearing on a bill that would give the Federal Trade Commission broad new powers to regulate automobile dealers. The bill, H.R. 2309, directs the FTC to adopt rules that prevent unfair and deceptive practices by dealers regarding credit and lending.

Tags: compliance, Legal, Michael Benoit

May 2009, F&I and Showroom - Feature

Consumer Protection Gone Wrong

By Michael Benoit

In these tough economic times, the last thing business needs are unreasonable impediments on the sale of goods and services. Hasn’t all the bailout and stimulus spending been focused on unfreezing credit markets so folks can spend money and boost the economy?

Tags: compliance, Legal, Michael Benoit

April 2009, F&I and Showroom - Feature

Rules of the Road: Basics of Truth in Advertising Laws

By Michael Benoit

In these tough economic times, driving business into the showroom is more important than ever. Many merchants invest significant resources into advertising their products in a manner designed to entice potential customers.

Tags: compliance, Legal, Michael Benoit

March 2009, F&I and Showroom - Feature

Choosing Your Lead Provider

By Michael Benoit

In these tough economic times, many dealers are looking for ways to cut expenses and protect cash flow. Some will feel the need to cut back on advertising, while others will recognize that advertising can be a lifeline in a down market.

Tags: compliance, Legal, Michael Benoit

February 2009, F&I and Showroom - Feature

6 Ways to Keep Regulators at Bay

By Michael Benoit

Tough times usually mean an increase in the number of consumer complaints filed against retailers and creditors, at least that's been the case in my experience. So, as we face what many believe will be a difficult year for profits, it’s probably a good idea for you to be diligent about enforcing your store’s compliance policies and procedures.

Tags: compliance, Legal, Michael Benoit

January 2009, F&I and Showroom - Feature

Choosing The Right Lead Provider

By Michael Benoit

In these tough economic times, many dealers are looking for ways to cut expenses and protect cash flow. Some will feel the need to cut back on advertising, while others will recognize that advertising can be a lifeline in a down market.

Tags: compliance, Legal, Michael Benoit

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

November 2008, F&I and Showroom - Feature

Pound for Pound, Prevention Always Wins

By Michael Benoit

I have the opportunity to work with several clients that provide sales and F&I training to dealers. On those occasions where I’m asked to help develop training content, I always include a section on payment packing.

Tags: compliance, Legal, Michael Benoit, payment packing

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

September 2008, F&I and Showroom - Feature

Get Smart, Get It Right

By Michael Benoit

“Missed it by thaaat much . . .” That phrase always brings to mind the inimitable Don Adams and his bumbling but well-intentioned television character, Maxwell Smart.

Tags: bankruptcies, compliance, Legal, Michael Benoit

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

June 2008, F&I and Showroom - Feature

Auto Finance Marketing Redux: What’s Old is New Again

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

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

April 2008, F&I and Showroom - Feature

Making a Legal Distinction

By Michael Benoit

Let’s face it; the law is not always the most stimulating topic for those of you who have lives. But knowledge is power, and it’s important to your business.

Tags: compliance, Legal, Michael Benoit

March 2008, F&I and Showroom - Feature

Can I Have That in Writing?

By Michael Benoit

A series of attacks on document preparation fees in several states has resulted in a line of cases holding that charging a fee to fill in the blanks on legal documents (for example, retail installment sale contracts) is the practice of law.

Tags: compliance, 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

January 2008, F&I and Showroom - Feature

Red Flag Warning

By Michael Benoit

Unless you’ve been living under a rock, you all know that Southern California has had its share of devastating wildfires over the last several months. If you live in Southern California, you’ve experienced the hot Santa Ana winds and the “red flag warnings” that accompany them — that is, warnings of the potential for such a catastrophe.

Tags: compliance, Legal, Michael Benoit, Red Flags Rule

December 2007, F&I and Showroom - Feature

The Cost of Doing Business

By Michael Benoit

We’ve talked a lot about “process and procedure” in these columns, particularly as it relates to compliance. The operative word here is good, because procedures that conform to a lesser standard can really put a dent in your retirement plan.

Tags: compliance, Legal, Michael Benoit, retail installment contracts

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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

By Ronald J. Reahard

(Video) Have a Real Conversation

By Ronald J. Reahard

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

By Marv Eleazer

Doing Our Part

By Marv Eleazer

On the Point

Jim Ziegler
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

By Jim Ziegler
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

By Jim Ziegler

Is Your Quick Lube Driving Away Business?

By Jim Ziegler