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Compliance

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August 9, 2011 - Industry News

SNAAC Launches E-Signature on SNAACNow.com

Security National Automotive Acceptance Corporation’s new E-Signature product for SNAACNow.com ensures that the buyer reviews contracts and documents that are filled in completely prior to signing.

Tags: electronic signatures, Security National Automotive Acceptance Corporatio, SNAAC

August 2, 2011 - Industry News

VisionMenu Adds PRU Reporting to Electronic Menu

VisionMenu Inc. has added a new feature to its VisionMenu Plus and VisionReport software that will allow dealers to track their F&I department’s profit per retail unit when the menu is and isn’t used.

Tags: F&I menus, PRU, Ron Martin, VisonMenu

August 2, 2011 - Industry News

DealerTrack Releases Tools to Support Dodd-Frank Act Requirements

DealerTrack’s new feature is designed to allow users of its credit application network to generate Adverse Action Notices and new credit disclosures mandated by recently passed laws.

Tags: compliance, Credit, Credit Applications, Dealertrack, Dodd-Frank Act, software

July 25, 2011 - Industry News

John Palmer to Speak at 2011 Special Finance Conference

John Palmer, president and CEO of ProMax Unlimited, will present two seminars at the the upcoming 2011 Special Finance Conference, scheduled for September 26-28 at the Las Vegas Hilton.

Tags: compliance, Industry Summit 2011, lead generation, ProMax Online, special finance

July 19, 2011 - Industry News

Obama Nominates Former Ohio AG to Lead New Bureau

President Obama nominated former Ohio Attorney General Richard Cordray to serve as the director of the new Consumer Financial Protection Bureau (CFPB) agency. Cordray has served as head of the CFPB’s enforcement division for the last six months.

Tags: CFPB, compliance, Consumer Financial Protection Bureau, Hudson Cook LLP, Legal, Obama administration

July 15, 2011 - Industry News

F&I Dealer of the Year: 10 Days Left to Enter

The deadline to enter the magazine's F&I Dealer of the Year contest is quickly approaching, with 10 days left to complete and submit the nomination form.

Tags: F&I Conference, F&I Dealer of the Year, F&I Pacesetters, Industry Summit 2011

July 12, 2011 - Industry News

Texas Bill Moves State to Electronics Lien and Titling

Under the new bill, the Texas Department of Motor Vehicles will join states like Arizona and California in transitioning to electronic lien and titling. The move is expected to reduce costs and eliminate the state’s exposure to fraud.

Tags: electronic lien and titles, fraud, Legal, legislation, VINtek

July 12, 2011 - Industry News

Missouri Gov. Signs Service Contract Law

Aimed at telemarketers of vehicle service contracts, Senate Bill 132 was signed into law last week and will provide further oversight on service contract sales in Missouri.

Tags: extended warranties, Legal, legislation, Service Contracts, US Fidelis

July 7, 2011 - Industry News

FTC Announces Second Roundtable Event

The Federal Trade Commission’s second roundtable will be staged at St. Mary's University School of Law on Aug. 2-3.

Tags: CFPB, compliance, Consumer Financial Protection Bureau, Dodd-Frank Act, FEDERAL REGULATION, Federal Reserve, Federal Trade Commission, Hudson Cook LLP, Regulations

June 22, 2011 - Industry News

Federal Reserve Temporarily Exempts Dealers from Certain Dodd-Frank Requirements

Dealers will remain exempt from certain data collection requirements under ECOA until the Federal Reserve Board issues final regulations.

Tags: Dodd-Frank Act, ECOA, FEDERAL REGULATION, Federal Reserve

June 8, 2011 - Industry News

DealerTrack Backs Compliance Solution With $25,000 Red Flags Guarantee

DealerTrack announced the company will offer a $25,000 Red Flags Guarantee to cover associated government-issued fines should a dealership be cited for noncompliance with the Red Flags Rule while using the DealerTrack Compliance Solution.

Tags: dealer, Dealertrack, Red Flags Rule

June 7, 2011 - Industry News

CarGurus Study Reveals Top 5 Complaints, Compliments About Car Dealers

A new CarGurus study suggests that a car dealer's candor and responsiveness carry significant weight with an online shopper and can make or break a sale, sometimes even before the consumer meets the dealer in person.

Tags: Customer Retention, Customer Service, dealer

May 3, 2011 - Industry News

ACC Provides Info About EPA Oil Spill Prevention Rule

If your dealership is near a navigable creek, stream or other waterway and stores oil, oil sludge, waste oil or fuel oil, the EPA Spill Prevention, Control, and Countermeasure (SPCC) regulation, which takes effect in November, applies to you.

Tags: Automotive Compliance Consultants, EPA

April 15, 2011 - Industry News

National Association of Dealer Counsel Elects New Officers

The National Association of Dealer Counsel (NADC) board of directors elected new officers during its 7th Annual Member Conference held at the Trump International Hotel & Tower in Chicago.

Tags: Legal

April 11, 2011 - Industry News

Automotive Compliance Consultants Offers Spanish-Language Training Tools

Automotive Compliance Consultants has released Spanish-language e-learning modules dealers can use to train Spanish-speaking employees on Occupational Safety and Health Administration, Fair Credit Reporting, the Equal Employment Opportunity Commission and other compliance regulations.

Tags: compliance

April 5, 2011 - Industry News

Veratad Technologies Partners With VisionMenu on Compliance Solutions

Veratad Technologies LLC, a provider of identity verification and compliance solutions, announced that its Red Flags Rule and ID verification solutions will be offered to all VisionMenu Inc. dealerships nationwide.

Tags: identity verification, Red Flags Rule, VisionMenu Inc.

March 22, 2011 - Industry News

Hudson Cook LLP to Participate in FTC Roundtable Event

Tom Hudson and Michael Benoit, attorneys with Hudson Cook LLP and the magazine's Legal columnists, have been invited to serve as panelists at the Federal Trade Commission's first public roundtable to discuss consumer protection issues related to the sale, financing and leasing of cars, SUVs and light trucks.

Tags: CFPB, Consumer Financial Protection Bureau

March 21, 2011 - Industry News

NADA University Launches Website Featuring “Dealer Pain Points”

NADA University, an online education and training resource for auto dealers and their staffs, announced the launch of a new Website, www.NADAuniversityblog.com, featuring its “Dealer Pain Points” videos to help dealers resolve business challenges and create new opportunities for success.

Tags: NADA, NADA University, training

March 10, 2011 - Industry News

Compli Appoints Jeremy Davey as VP of Engineering

Compli, a provider of human resources and compliance management software, has appointed Jeremy Davey as vice president of engineering.

Tags: Compli, compliance

February 11, 2011 - Industry News

CUDL and 700Credit Forge Partnership

700Credit LLC, a provider of credit reporting and compliance products and services, has partnered with CUDL, a provider of indirect and point-of-purchase auto lending solutions to the credit union industry.

Tags: credit reports, credit unions, CUDL

February 8, 2011 - Industry News

ADP Launches Deal Review Compliance Tool

The Dealer Services Group of Automatic Data Processing Inc. has launched Deal Review, a new tool that will help dealerships track, monitor and report on their deal compliance efforts.

Tags: ADP Dealer Services, Adverse Action Notice

January 25, 2011 - Industry News

GAP Deductible Under Threat in California

New disclosure requirements being considered by the Federal Reserve Board (FRB) for loan insurance products aren’t the only threat to core F&I offerings like GAP. In California, product providers are racing to notify dealers that one of the key selling feature of GAP might be barred since a new law took effect on Jan. 1.

Tags: Consumer Financial Protection Bureau, credit insurance, Federal Reserve, Federal Trade Commission, GAP, NADA

January 24, 2011 - Industry News

Wolters Kluwer Offers Risk-Based Pricing Solution

Wolters Kluwer Financial Services is offering dealers, lenders and F&I service providers a number of solutions to help them comply with the new federal Risk-Based Pricing Rule.

Tags: Federal Reserve, Federal Trade Commission, Risk-Based Pricing Rule, Wolters Kluwer Financial Services

January 24, 2011 - Industry News

Enterprise Car Sales Selects DealerTrack as Compliance Solution Provider

DealerTrack Inc., a subsidiary of DealerTrack Holdings Inc., an automotive software provider, and Enterprise Car Sales, a division of Enterprise Rent-A-Car, announced Monday an agreement to deploy the DealerTrack Compliance Solution in more than 140 Enterprise Car Sales’ locations nationwide.

Tags: Dealertrack, Red Flags Rule, Risk-Based Pricing Rule

January 19, 2011 - Industry News

MicroBilt Offers Compliance Solutions for Risk-Based Pricing, Red Flags Rules

MicroBilt Corporation, a provider of risk management services, introduced two solutions to help dealers comply with the Risk-Based Pricing (RBP) Rule and Red Flags Rule (RFR), which became effective Jan. 1, 2011.

Tags: compliance, Fair and Accurate Credit Transactions Act of 2003, OFAC, Red Flags Rule, Risk-Based Pricing Rule