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October 4, 2018 - Industry News

F&I and Showroom Names 2018 F&I Pacesetters

The magazine reveals the names of the seven organizations vying to be crowned F&I Dealer of the Year, sponsored by American Financial & Automotive Services.

Tags: American Financial & Automotive Services, DOY Pacesetters, DOY Winners, F&I department, F&I products

October 1, 2018 - Industry News

Calif. Governor Vetoes Dealer Protection Bill

In an unexpected decision, California Gov. Jerry Brown vetoed a dealer protection bill unanimously passed by the California State Legislature. The sticking point was a 'complex formula' for determining dealer reimbursement on warranty and recall work.

Tags: California New Car Dealers Association, California State Legislature, Franchise Laws

October 1, 2018 - Industry News

Dealer Panels Set for Compliance Summit

The upcoming Compliance Summit will feature two panel discussions staffed by dealer counsel and personnel from around the nation.

September 27, 2018 - Industry News

RSVP for ACE Certification at Industry Summit

Attendees of the upcoming Industry Summit and P&A Leadership Summit are invited to register for Automotive Compliance Education’s onsite certification review and exam for no additional charge.

Tags: ACE, certification, compliance, Compliance Summit, Industry Summit

September 24, 2018 - Industry News

FTC: Credit Freezes Are Now Free

The FTC issued a reminder that, starting today, consumers can freeze their credit and place one-year fraud alerts for free under the new Economic Growth, Regulatory Relief, and Consumer Protection Act.

September 19, 2018 - Industry News

FTC Shuts Down Websites Offering Fake Pay Stubs for Sale

The operators of websites that sold fake pay stubs and other financial documents have agreed to permanently shut down their business as part of separate settlements with the Federal Trade Commission, the regulator announced this week.

Tags: compliance, F&I office, Federal Trade Commission, fraud, pay stubs

September 18, 2018 - Industry News

DealerBuilt Settles With New Jersey Regulators Over Data Breach

Photo courtesy of Kromtech Alliance Corp.

Software provider DealerBuilt agreed to implement security protocols to settle an investigation into a data breach that exposed the personal information of customers and employees at more than 100 dealerships nationwide.

Tags: auto finance, compliance, cybersecurity, data security, DealerBuilt, LightYear DMS, New Jersey Attorney General, state regulator

September 7, 2018 - Industry News

Ganther to Tackle MLA, CFPB, Employee Privacy at Compliance Summit

Attorney, dealer compliance expert, and Compliance Summit regular Jim Ganther will take on such pressing topics as the Military Lending Act revision, compliance in the post-CFPB era, and employee privacy in a workshop session at the upcoming event.

September 6, 2018 - Industry News

Two NY Dealers to Cease ‘Bogus’ Etch Sales

New York Attorney General Barbara Underwood announced that new-car dealerships in the Bronx and Westchester have agreed to end ‘fraudulent, deceptive, and illegal’ sales of a ‘bogus’ anti-theft product and offer restitution to at least 1,100 car buyers.

September 5, 2018 - Industry News

Calif. Dealers Score Partial Victory With Passage of Dealer Protection Bill

While the bill further strengthens dealer protections and updates others, several protections aimed at future services and opportunities for automakers to serve customers directly were stripped out of the bill prior to last Thursday’s unanimous vote by the California Legislature.

Tags: California New Car Dealers Association, dealer protection, facility upgrades, Franchise Laws

September 5, 2018 - Industry News

AG Coalition: CFPB Has 'No Authority to Overrule' High Court’s ECOA Interpretation

A coalition of 14 attorneys general warned CFPB Acting Director Mick Mulvaney against taking any action to reinterpret ECOA as not providing for disparate impact liability — signaling that the fight over dealer participation might not be over.

Tags: attorneys general, auto finance, CFPB, compliance

August 23, 2018 - Industry News

Senate Committee Narrowly Confirms Trump's Pick to Head BCFP

The U.S. Senate Banking Committee narrowly approved the nomination of Kathy Kraninger to head the Bureau of Consumer Financial Protection. The vote sends her nomination to the full Senate for consideration.

Tags: auto finance, compliance, Consumer Financial Protection Bureau, Donald Trump, Mick Mulvaney

August 23, 2018 - Industry News

KPA Partners With HiringThing

KPA has added HiringThing’s applicant tracking software to its workforce management compliance platform.

August 22, 2018 - Industry News

O’Loughlin to Deliver Post-CFPB Keynote at Compliance Summit

Attorney, compliance expert, and former Florida dealer regulator Terry O’Loughlin will address the new regulatory environment in his keynote address at the upcoming Compliance Summit in Orlando, Fla.

August 22, 2018 - Industry News

EEOC Files Sex Bias Suit Against Ferman’s Tampa Harley-Davidson

The federal agency filed suit in federal court on Monday, charging Ferman Automotive with sex discrimination for not promoting a qualified female sales manager to general manager nine times.

Tags: compliance, discrimination, Equal Employment Opportunity Commission, Ferman Automotive Group, Tampa Harley-Davidson

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 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

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