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Compliance

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January 10, 2011 - Industry News

Finance Express Provides Compliance Tools </br> for RBP Rule, New Privacy Policy Notices

Finance Express, a provider of Web-based financial services for independent dealerships, has created a solution to help dealers comply with the Federal Trade Commission (FTC)'s Risk-Based Pricing (RBP) Rule and new privacy policy, which became effective Jan. 1.

Tags: compliance, Federal Trade Commission, Finance Express, privacy policy, Red Flags Rule, Risk-Based Pricing Rule

January 3, 2011 - Industry News

700Credit Releases Risk-Based Pricing Solution

700Credit LLC, a provider of credit reporting and compliance products and services, has launched a solution to help dealers comply with the new Risk-Based Pricing Rule, which went into effect on Saturday, Jan. 1.

Tags: Federal Reserve, Federal Trade Commission, Risk-Based Pricing Notices

December 21, 2010 - Industry News

RouteOne Offers Risk-Based Pricing Notice Solution

RouteOne is offering dealers a complimentary Risk-Based Pricing Notice tool to assist in compliance with the Risk-Based Pricing Rule issued jointly by the Federal Reserve System and the Federal Trade Commission.

Tags: Federal Trade Commission, Risk-Based Pricing Notices, RouteOne

December 6, 2010 - Industry News

CounselorLibrary Releases Risk-Based Pricing Rule Guidebook

CounselorLibrary, the publisher of automobile financing and leasing legal compliance services, has launched its newest publication, “Dealer Compliance Guide - Risk-Based Pricing,” for dealers.

Tags: Risk-Based Pricing Rule

November 30, 2010 - Industry News

Dodd-Frank Act, New Protection Bureau to Dominate Concerns in 2011

Coping with the uncertainty of the Dodd-Frank Act and its newly-formed Consumer Financial Protection Bureau (CFPB) will be among U.S. financial institutions’ foremost concerns in 2011, according to the experts at Wolters Kluwer Financial Services.

Tags: Consumer Financial Protection Bureau, Indirect Lending, Risk-Based Pricing Rule, Wolters Kluwer Financial Services

November 23, 2010 - Industry News

CoreLogic Credco Offers Compliance Solution for Risk-Based Pricing Rule

CoreLogic Credco is offering the Credit Score Disclosure Exception report as a compliance solution for the Risk-Based Pricing regulation.

Tags: Credit Scores, Risk-Based Pricing Rule

October 18, 2010 - Industry News

National Credit Center Integrates With VIN Solutions CRM

National Credit Center, a provider of credit reporting and credit compliance solutions, has entered into an integration agreement with VIN Solutions, a customer relationship management and Internet lead management company.

Tags: credit reports, lead management

September 7, 2010 - Industry News

Compli Releases New HR Software Solution

Compli, a provider of human resources and compliance management software, has released Compli 6.5, a program that manages the entire employment lifecycle.

Tags: Compli, compliance, employment lifecycle

July 30, 2010 - Industry News

UDS Launches F&I Training Webinar Series

United Development Systems Inc. has launched the “UDS Webinar Series,” which brings the company’s award-winning F&I training direct to dealers.

Tags: compliance, lender strategies, training

June 11, 2010 - Industry News

CARLAW III Reloaded Offers Dealers Compliance Lessons

Tom Hudson and Emily Beck continue the legal fun with their latest edition of the CARLAW book series.

Tags: compliance

June 1, 2010 - Industry News

DealerTrack Upgrades Compliance Solution With Dashboard Tool

The Compliance Dashboard allows a dealer to monitor his or her dealership's compliance activity with a real-time, birds-eye view from a single screen.

Software provider DealerTrack Inc. enhanced its compliance solution with the addition of the new Compliance Dashboard tool, which provides an overview of compliance-related activity on a dealership's current deals on a single screen.

Tags: compliance, Dealertrack

May 28, 2010 - Industry News

FTC Delays Red Flags Enforcement to December

The Federal Trade Commission has delayed enforcement of the Red Flags Rule for a fifth time, extending the deadline to Dec. 31, 2010.

Tags: Red Flags Rule

April 6, 2010 - Industry News

NADA Issues Legislative Call-to-Action in Support of Brownback Amendment

Sen. Sam Brownback (R-Kan.) is planning to offer an amendment to exempt auto dealers from the financial regulation bill when the Senate considers the proposed legislation as early as next week.

Tags: Consumer Financial Protection Bureau, financial reform, NADA

March 23, 2010 - Industry News

Wolters Kluwer Unveils Compliance Tool for BHPH Dealers

Wolters Kluwer Financial Services has added a new resource for buy-here, pay-here (BHPH) dealers to its CompliSource solution, an online compliance tool for managing compliance with the state laws that govern direct and indirect lending.

Tags: buy-here, pay-here , compliance, Wolters Kluwer Financial Services

March 18, 2010 - Industry News

Compli Releases Version 6.0 of Workforce Management System

Compli, a provider of workforce and compliance management software, released Version 6.0 of the Compli Workforce Management System.

Tags: compliance

January 26, 2010 - Industry News

Wyoming Used-Car Dealer Convicted for Odometer Tampering

After a two-week trial, a federal jury in Cheyenne, Wyo., convicted on Jan. 21 Randy Lee (aka Jimmy Lee) on 11 of 14 felony counts with which he was charged, the Justice Department announced.

Tags: compliance, used vehicles

January 20, 2010 - Industry News

Compli Appoints Lon Leneve as President and CEO

Compli, a provider of workforce and compliance management software, appointed executive Lon Leneve as president & CEO, effective this month.

Tags: Compli

January 12, 2010 - Industry News

FTC and Federal Reserve Issue Risk-Based Pricing Rules

In what is expected to have a big impact on the special-finance marketplace, the Federal Trade Commission (FTC) and the Federal Reserve Board (FRB) issued in late December finalized rules that will require creditors, including dealers, to alert consumers when derogatory credit data causes them to receive less than optimal terms. The rule is expected to take effect Jan. 1, 2011.

Tags: Adverse Action Notice, Federal Reserve, Federal Trade Commission, NADA, Risk-Based Pricing Notices

January 11, 2010 - Industry News

Pennsylvania AG Files Lawsuit Against Used-Car Warranty Company

A Lackawanna County, Penn., used-car warranty company and its operators, accused of defrauding thousands of motorists across the country, are the subject of a lawsuit filed by the state’s Attorney General's Bureau of Consumer Protection.

Tags: compliance, fraud, used vehicles

January 5, 2010 - Industry News

Hyundai Capital America Adopts Reynolds LAW 553

Reynolds and Reynolds announced that Hyundai Capital America, which finances Hyundai and Kia vehicles sold in the United States, has adopted the Reynolds LAW 553 Universal Retail Sale Contract for use in its vehicle financing business.

Tags: retail installment contracts, Reynolds & Reynolds

December 23, 2009 - Industry News

Florida Orders Four Companies to Stop Selling VSCs

The Florida Office of Insurance Regulation issued on Dec. 21 an order to National Automotive Services Inc.; Warranty Financial Inc. a/k/a Warranty Financial O.R.G. Inc.; Warranty USA; and Warranty Services to cease and desist transacting the unauthorized marketing and selling of motor vehicle service agreement products in the state.

Tags: compliance, vehicle service products

December 15, 2009 - Industry News

Reynolds Exec Named to Consumer Finance Board

Terrence O’Loughlin, director of compliance for Reynolds and Reynolds, has been elected to the governing board of the Conference on Consumer Finance Law (CCFL), according to the Dayton Daily News.

Tags: Reynolds & Reynolds

December 10, 2009 - Industry News

N.C. Dealers Not Delivering on Titles

A local news channel in Raleigh, N.C., reported on Dec. 7 that the North Carolina Division of Motor Vehicles (DMV) has identified 62 dealerships that have not delivered titles on vehicles paid in full within the time required by law.

Tags: lien holder, North Carolina, tax and title fees

December 3, 2009 - Industry News

Compli Releases Time-Off Tracker for Auto Dealerships

Compli, a provider of on-demand workforce and compliance management software for auto dealers, introduces its Time-Off Tracker, a color-coded dashboard calendar that gives management a real-time snapshot of its department coverage by day, week and month.

Tags: Compli, compliance

November 17, 2009 - Industry News

Former Chicago Dealer Charged With 11 Counts of Mail and Wire Fraud

The former owner of a Chicago car dealership was arrested Nov. 6 on federal charges alleging that he and two former employees, who also were charged, engaged in a fraud scheme involving more than 100 vehicles and caused lending institutions, car dealerships, and customers to lose nearly $2.8 million.

Tags: compliance, fraud