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Compliance

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August 16, 2018 - Industry News

Nine Hudco Attorneys Listed Among America’s Best

Nine associates and partners with the law firm of Hudson Cook are listed in the 2019 edition of 'The Best Lawyers in America,' including one partner who is being recognized for his 25th year.

August 14, 2018 - Industry News

F&I Dealer of the Year Nomination Period Extended to Aug. 24

Dealership employees, general agents, vendors, finance sources, and F&I product providers are encouraged to nominate their stores and dealer clients for F&I and Showroom's F&I Dealer of the Year award, sponsored by American Financial & Automotive Services Inc.

Tags: DOY Pacesetters, DOY Winners, F&I director, F&I manager

August 2, 2018 - Industry News

FTC Charges Arizona Group With Falsifying Incomes on Consumer Credit Apps

According to the regulator, this was the FTC’s first action alleging income falsification by dealerships. Charged are the owners of Tate’s Auto Group, which operates four dealerships in Arizona and New Mexico, near the border of the Navajo Nation.

Tags: auto finance, compliance, Federal Trade Commission, income falsification, Tate's Auto

August 1, 2018 - Industry News

Harkins to Emcee Compliance Summit, PALS at Industry Summit 2018

Bob Harkins will serve double duty at this year’s Industry Summit, serving as master of ceremonies for Compliance Summit and P&A Leadership Summit.

July 31, 2018 - Industry News

Compli Launches CMS University

Compli announced the launch of CMS University, a free series of four ‘masterclass’-level online courses open to dealers and other auto industry members.

July 26, 2018 - Industry News

Wells Fargo to Begin Growing Auto Loan Portfolio by Mid-2019

Photo by Laimerpramer via Wikimedia Commons

Wells Fargo's continued runoff of its auto loan portfolio resulted in a $10.3 billion year-over-year decline in auto loan balances in the second quarter, but executives said the bank is positioned to begin growing its auto finance business once again.

Tags: auto finance, CFPB, compliance, OCC, sales scandal, Wells Fargo

July 25, 2018 - Industry News

Registration Opens for Industry Summit 2018

Dealers and sales and F&I professionals are invited to register for Industry Summit 2018, a unique training, compliance certification, and networking opportunity set for October in Orlando, Fla.

July 24, 2018 - Industry News

Deadline Set for Industry Summit’s Tech Shootout

Companies and individuals at the forefront of sales and F&I technology are invited to participate in Technology Shootout, a new feature planned for October’s Industry Summit.

July 23, 2018 - Industry News

Industry Summit Panel to Examine Industry’s Digital Transformation

Industry Summit’s annual ‘From the Boardroom’ session will feature executives from F&I product providers and software firms, who will tackle the big questions facing F&I offices as the industry continues to push for a more digitized car-buying experience.

Tags: compliance, digital retailing, F&I process, F&I products, Industry Summit, online F&I, Showroom

July 12, 2018 - Industry News

FTC, 12 Partner Agencies Conduct Used Car Rule Compliance Sweep

The compliance sweep, which took place in seven states, is the first since the agency's new Used Car Rule took effect earlier this year. Dealers who failed to comply could face penalties of up to $41,484 per violation.

Tags: compliance, Federal Trade Commission, Used Car Guide, used cars

July 10, 2018 - Industry News

F&I Dealer of the Year Nominations Now Being Accepted

F&I and Showroom, Auto Dealer Today's sister publication, is now accepting nominations for its 17th F&I Dealer of the Year contest, sponsored for the second straight year by American Financial & Automotive Services. Nominations must be received by Aug. 15, 2018.

Tags: contests, DOY Pacesetters, DOY Winners, F&I Dealer of the Year, F&I director, F&I profit

July 9, 2018 - Industry News

CFPB Official Who Sued Trump Resigns, Drops Suit

The CFPB official who went to court last year after Trump appointed Mick Mulvaney as acting director announced on Friday she is leaving the embattled regulator. In a tweet, her attorney said the CFPB official is also dropping her legal fight to be the regulator's acting director.

Tags: auto finance, CFPB, compliance, Consumer Financial Protection Bureau, Donald Trump, Leandra English, Mick Mulvaney, Richard Cordray

July 9, 2018 - Industry News

NY AG: Brooklyn Dealership Targeted Non-English Speakers

Bay Ridge Honda has agreed to pay $423,000 in restitution and penalties to settle charges of deceptive acts and practices that followed dozens of complaints from aggrieved customers, many of whom are non-English speakers.

Tags: compliance, Deceptive Practices, fraud, payment packing, UDAP, Unfair Practices

July 3, 2018 - Industry News

KPA Acquires Auto Advisory Services Inc.

The acquisition of the F&I audit services firm enables KPA to become a single source for automotive compliance. The transaction closed on May 31.

Tags: Auto Advisory Services, auto finance, compliance, F&I office, KPA Services LLC

June 20, 2018 - Industry News

EFG Companies: Dealers Must Embrace Industry Paradigm Shift

EFG Companies CEO John Pappanastos said digital buying habits, millennial and Gen Z consumers, and women are forcing industry change dealers must embrace.

Tags: compliance, digital retailing, EFG Companies, F&I manager, F&I product provider, Hiring, John Pappanastos, online F&I

June 20, 2018 - Industry News

ADT Announces Winners of 2018 Dealers’ Choice Awards

Dealers and dealership personnel have recognized 70 companies and individuals in 34 categories in the 2018 Dealers’ Choice Awards.

June 19, 2018 - Industry News

New NY AG Settles With Queens Dealer Group

Recently appointed New York Attorney General Barbara Underwood has settled charges of deceptive practices against a four-rooftop, Queens-based dealer group.

June 12, 2018 - Industry News

Webinar: Gil Van Over to Tackle Compliance Issues on the Road to the Sale

Compliance expert Gil Van Over will deliver Part Two of F&I and Showroom’s compliance webinar series, “CFPB Defanged: Rise of the eDealership.” The webinar is scheduled for July 11 at 11 a.m. PT/2 p.m. ET.

Tags: auto finance, compliance, desking, edealership, F&I manager, F&I menu, F&I office, Gil Van Over, Payment Quotes

June 7, 2018 - Industry News

LHM Dodge Ram Avondale Named a Top Company to Work for in Arizona

The Arizona Republic recognized the dealership for its employee incentive programs and no-cost, no-debt online college degree opportunities, as well as its holiday bonus program, employee appreciation and birthday celebrations, community involvement, and annual pinewood derby family competition.

Tags: Best Places to Work, employee retention, Larry H. Miller Dealerships

May 29, 2018 - Industry News

Alpha’s Jeff Olsen Honored With 2018 Corporate Counsel Award

The award was handed out by Utah Business magazine during a ceremony at The Grand America Hotel on April 26. Jeff Olsen, the F&I product provider’s in-house legal counsel, is also featured in the publication’s May 2018 edition.

Tags: Alpha Warranty Services, F&I products, in-house counsel, Jeffrey Olsen

May 21, 2018 - Industry News

Trump Signs Repeal of CFPB’s Dealer Participation Guidance

The president’s signature comes exactly five years and two months after the bureau put the auto finance industry on notice with its controversial guidance on dealer rate markups.

Tags: auto finance, CFPB, compliance, dealer participation, guidance, rate markups

May 15, 2018 - Industry News

Webinar: Who Will Take Up the CFPB's Torch?

Eric Johnson, partner at Hudson Cook LLP

On June 6, Hudson Cook LLP attorney and partner Eric Johnson will join F&I and Showroom’s Gregory Arroyo for Part 1 of the magazine’s compliance webinar series. He will examine the likely candidates to take up the CFPB’s torch, and explain why F&I product pricing isn't out of the regulatory woods just yet.

Tags: Attorneys General, compliance, dealer participation, Federal Trade Commission, regulation

May 8, 2018 - Industry News

House Approves Resolution to Repeal CFPB's Dealer Participation Guidance

As expected, the House approved the resolution of disapproval of the CFPB's guidance on dealer participation. With the Senate having voted on the resolution last month, all that's left to rescind the controversial guidance is President Trump's signature.

Tags: AFSA, auto finance, CFPB, compliance, dealer participation, guidance, NADA

May 8, 2018 - Industry News

NIADA: Cost of Doing Business Up, Finance Availability Down

The association’s first quarter business confidence survey reveals subdued expectations for sales and economic growth among independent dealers. One factor muting optimism is finance source availability and tighter credit guidelines.

Tags: auto finance, compliance, Nation Independent Dealers Association, tax season

May 8, 2018 - Industry News

New York AG Schneiderman Resigns

Crusading New York Attorney General Eric T. Schneiderman has resigned in the face of reports of assaults and threats against multiple women.

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