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Compliance

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January 16, 2014 - Industry News

Ohio AG Notes ‘Big Difference’ Between Franchised, Independent Dealers

Ohio Attorney General Mike DeWine

Ohio Attorney General Mike DeWine announced five lawsuits against used car dealerships last week. Like most of the suits recently filed in the state, DeWine says the issue is ‘bad apple’ used car dealers not delivering titles.

Tags: Consumer Sales Practices Act, fraud, lawsuits, Ohio, Stephanie Forshee, used vehicles, vehicle title

January 14, 2014 - Industry News

DOJ Charges N.C. Dealers With Credit Discrimination

A joint complaint filed in North Carolina alleges buy-here, pay-here dealerships targeted African-American customers for unfair and predatory credit practices that violated federal and state law.

Tags: Deceptive Practices, Department of Justice, discrimination, Equal Credit Opportunity Act (ECOA), North Carolina, U.S. Attorney

January 9, 2014 - Industry News

FTC Charges 10 Dealers With Deceptive Advertising

The Federal Trade Commission announced today that an enforcement sweep has netted 10 dealers in seven states for deceptive advertising practices.

Tags: Deceptive Advertising, Federal Trade Commission, Violations

January 9, 2014 - Industry News

Fla. Dealer Under Investigation After Repossessing Customer’s Car

Downtown Auto Sales of the Palm Beaches repossessed a customer’s vehicle after he refused to pay an extra tire fee with his car payment. The dealer is now under investigation for violating state laws, including failure to abide by the contract.

Tags: fraud, Payment Plan, Repossessions, vehicle title

January 9, 2014 - Industry News

Law Firms Join Forces in Antitrust Suit Against Carfax

Bellavia Blatt Andron & Crossett P.C. has joined forces with another law firm in prosecuting its antitrust suit against Carfax.

Tags: antitrust, Carfax, Leonard Bellavia

January 9, 2014 - Industry News

House Passes Bill to Reduce Dealership Paperwork

The U.S. House of Representatives passed legislation this week repealing a 1977 law requiring auto dealers to certify that new vehicles are compliant with the Clean Air Act. The measure now heads to the U.S. Senate.

Tags: Clean Air Act, David Westcott, NADA

January 7, 2014 - Industry News

The Warranty Group Celebrates 50th Year at NADA

This weekend in New Orleans marked The Warranty Group’s 50th year at the NADA Convention & Expo.

Tags: Charlie Robinson, NADA, New Orleans, The Warranty Group, Thomas Warsop

January 7, 2014 - Industry News

Illinois Senator Proposes Repeal of 'Blue Law'

Illinois State Senator Jim Oberweis is proposing to lift the state’s ban on Sunday car sales, but car dealers, to his surprise, are opposed.

Tags: legislation, Stephanie Forshee, Vehicle Sales

January 2, 2014 - Industry News

Dealer Convicted of Auto Theft, Forgery

The operator of King City Enterprises will be sentenced this month for buying cars with counterfeit stamps from finance companies and then submitting the forged documents to the DMV.

Tags: DMV, identity theft, Vehicle Theft

January 2, 2014 - Industry News

Michigan Dealer Loses $94K to Embezzlement

According to The Herald-Palladium, a former employee of a Michigan car dealer pleaded guilty to stealing $94,000 from the store.

Tags: embezzlement

December 31, 2013 - Industry News

Open Dealer Exchange: Digital Files Reduce Noncompliance Risk

Open Dealer Exchange, a joint venture between ADP and Reynolds and Reynolds, issued a release saying the Consumer Financial Protection Bureau’s focus on auto lending calls for automated documentation.

Tags: Consumer Financial Protection Bureau, digital compliance, Open Dealer Exchange

December 26, 2013 - Industry News

Pa. Dealer Cleared in Scam Case Sues Police, Tri-Star Motors

A used-car dealer is suing state police and Tri-Star Motors for falsely implicating him on theft charges. He was accused of conspiring with a Tri-Star used-car manager to undervalue trade-in vehicles so he could buy them at lower prices.

Tags: ACV, lawsuits, trade-in vehicles, used vehicles

December 26, 2013 - Industry News

Hyundai Settles MPG Suit

Hyundai and Kia Motors have settled litigation with car owners affected by overstated fuel economy ratings on vehicles sold between 2011 and 2013. Affected consumers will be given an option to accept a single “lump sum” payment or take part in a lifetime reimbursement program the OEM created in late 2012.

Tags: Environmental Protection Agency, Fuel Economy, Hyundai, Settlement

December 26, 2013 - Industry News

Two S.C. Dealerships Accused of Scheming Low-Income Buyers

The Post and Courier reports that employees at two Charleston car dealerships schemed low-income buyers into buying vehicles they could not afford.

Tags: fraud, Lawsuit

December 26, 2013 - Industry News

Dealer Accused of Selling Cars Damaged in Superstorm Sandy

The operator of D&D Auto Sales, two employees and a state Motor Vehicle Commission technician were charged with acquiring fraudulent “clean” titles for eight flood-damaged vehicles and selling seven of them to customers.

Tags: Auto Auctions, clear title, fraud, Superstorm Sandy

December 20, 2013 - Industry News

Ally Reaches $98M Settlement with DOJ, CFPB for Lending Discrimination

The settlement is the department’s third largest fair lending agreement and largest ever auto lending agreement.

Tags: Ally Bank, Ally Financial, CFPB, Consumer Financial Protection Bureau, discrimination, Dodd-Frank Act, Settlement

December 19, 2013 - Industry News

Tesla Feeling the Heat in Ohio, California

On the same day a Tesla sedan is revealed to have been the possible cause of a garage fire, a group of Ohio dealers, The Columbus Dispatch reports, is suing Tesla Motors and two state agencies. The suit charges that the electric carmaker’s license violates state law.

Tags: California, Lawsuit, Ohio, Orange County, Reuters, Tesla Motors

December 19, 2013 - Industry News

BHPH Dealer to Refund Late Fees

Iowa Attorney General Tom Miller charged Auto Special Inc. with not complying with state law when it collected late fees from customers who were less than 10 days late on payments.

Tags: buy-here, Iowa attorney general, pay-here

December 19, 2013 - Industry News

Reynolds, VADA Partner on F&I Library

Reynolds and Reynolds’ new Reynolds LAW Virginia F&I Library, a comprehensive catalog of standardized, legally reviewed F&I documents, is now available to franchised new-car and -truck dealers in Virginia.

Tags: AFIP, compliance, Reynolds & Reynolds, Virginia Automobile Dealers Association

December 17, 2013 - Industry News

Arkansas AG Sues North Little Rock Used-Car Dealer

Attorney General Dustin McDaniel of Arkansas is suing a used-car dealer for allegedly failing to provide clear titles to customers.

Tags: Dustin McDaniel, Lawsuit, used vehicles

December 12, 2013 - Industry News

CFPB Releases Preliminary Arbitration Research

On Wednesday, the CFPB released preliminary research on the use of arbitration clauses in connection with consumer financial products and services. While auto was excluded from the review, the report’s findings make similar provisions used in auto transactions look ‘consumer-friendly by comparison,’ says legal insider.

Tags: arbitration agreements, Brittany-Marie Swanson, CFPB, Consumer Financial Protection Bureau, Dodd-Frank Act, Tom Hudson

December 12, 2013 - Industry News

Report on CFPB Reveals Transparency Issues

A new report shows financial institutions aren’t the only ones calling for more transparency from the CFPB. Consumers are also asking the bureau to be more more open about its activities.

Tags: CFPB, compliance, consumer complaints, Consumer Financial Protection Bureau

December 12, 2013 - Industry News

Former Accounting Manager Charged With Embezzling $100,000 From Ohio Dealer

An Ohio woman is accused of stealing $100,000 from her former employer, Voss Auto Network.

Tags: embezzlement, fraud

December 12, 2013 - Industry News

Dealer Faces Multiple Violations Related to Vehicle Sales

A Pennsylvania-based auto dealer was charged with providing financing without a license and selling a salvaged vehicle without performing a safety inspection or acquiring the correct title.

Tags: fraud, Pennsylvania, title, Vehicle Inspection

December 12, 2013 - Industry News

Bill to Reduce Dealer Paperwork Advances in House

The legislation would repeal an outdated mandate that requires dealers certify that vehicles comply with the Clean Air Act.

Tags: Environmental Protection Agency, legislation, National Automobile Dealers Association