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Compliance

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September 29, 2009 - Industry News

Leedom BHPH Convention Unveils Show Agenda

The education committee for The Leedom Group’s 15th Annual Buy-Here, Pay-Here National Convention unveiled its lineup of speakers, workshops and panels for the three-day event, which will be held Oct. 12-14 at Caesars Palace in Las Vegas.

Tags: bhph

September 24, 2009 - Industry News

AFSAEF Offers Free Resources for Consumer Financial Protection

The American Financial Services Association Education Foundation (AFSAEF) introduced two new resources to help borrowers take steps to protect their finances.

Tags: AFSA, consumer financial habits

September 17, 2009 - Industry News

Hudson Cook’s Founding Partners Receive AFSA Service Award

Hudson Cook LLP, a provider of legal compliance services for the financial services industry, announced that the American Financial Services Association (AFSA) awarded its 2009 Distinguished Service Award to the firm’s founding partners, Tom Hudson and Robert Cook.

Tags: AFSA, Hudson Cook LLP

September 8, 2009 - Industry News

Washington Dealer Repays Consumers for Deceptive Gas Rebate Program

A Vancouver, Wash., dealer agreed to repay up to $8,440 in restitution to consumers who participated in a deceptive gas rebate program, said the Washington Attorney General’s Office.

Tags: gas incentives

August 28, 2009 - Industry News

New FTC Rule Prohibiting Robocalls Takes Effect Today

The Federal Trade Commission said beginning today prerecorded commercial telemarketing calls to consumers — commonly known as robocalls — will be prohibited, unless the telemarketer has obtained permission in writing from consumers who want to receive such calls.

Tags: Federal Trade Commission, Robocalls

August 18, 2009 - Industry News

New Jersey Dealer Arrested for $7 Million Check Fraud

The former owner of a Bordentown, N.J.-based car dealership was arrested for allegedly defrauding local banks of more than $7 million in a check-kiting scheme, according to the U.S. Attorney’s Office.

Tags: banks, check-kiting scheme, money laundering, wire fraud

July 29, 2009 - Industry News

FTC Delays 'Red Flags' Rule to November 1

The FTC has delayed enforcement of the Red Flags Rule once again, as it looks to expand its education efforts among small businesses. Those efforts include sending a staff attorney to the magazine’s September conference.

Tags: F&I Conference & Expo, Fair and Accurate Credit Transactions Act of 2003, Federal Trade Commission, Red Flags Rule

July 28, 2009 - Industry News

Recovery Compliance Solutions to Handle GMAC’s Repossession Vendors

Recovery Compliance Solutions, a provider of repossession compliance monitoring solutions, partnered with GMAC Financial Services to manage and verify its repossession vendors’ information, ensuring they remain compliant with state and local standards.

Tags: compliance, GMAC Financial Services

July 1, 2009 - Industry News

GE Money Launches Web-Based Business Center Portal

GE Money’s Sales Finance division, a provider of consumer financing programs, launched Wednesday its new Web-based portal, the Business Center, to help dealerships with sales, marketing, operations and training.

Tags: business management, GE Money, marketing, Operations, sales, training

June 17, 2009 - Industry News

Wolters Kluwer Creates Indirect Lending Business Unit

Wolters Kluwer Financial Services has formed an indirect lending business unit to expand its reach across the broader indirect lending market.

Tags: compliance, Indirect Lending, Wolters Kluwer Financial Services

May 22, 2009 - Industry News

Judge Orders Halt to Illegal Robocalls

Judge John F. Grady of the United States District Court for the Northern District of Illinois issued on May 15 a temporary restraining order (TRO) against the parties involved in a telemarketing campaign of illegal robocalls.

May 15, 2009 - Industry News

FTC Files Suit to Stop Illegal Robocalls

The Federal Trade Commission is asking a federal court to shut down a telemarketing campaign that has been bombarding U.S. consumers with hundreds of millions of allegedly deceptive “robocalls” in an effort to sell them vehicle service contracts under the guise that they are extensions of original vehicle warranties.

Tags: Federal Trade Commission, Service Contracts, telemarketing

May 12, 2009 - Industry News

First Advantage CREDCO Introduces Red Flag Manager Tool

First Advantage CREDCO, a provider of automotive identity theft and specialty credit reporting solutions, unveiled an all-new component to its Red Flag Solution, called Red Flag Manager.

Tags: Red Flags Rule

May 5, 2009 - Industry News

F&I Magazine to Host Free Red Flags Webinar

F&I Management and Technology and Powersports F&I magazines will host a free Web seminar on the Red Flags Rule on Tuesday, May 12, at 11 a.m. PDT (2 p.m. EDT).

Tags: Red Flags Rule

May 1, 2009 - Industry News

FTC Issues Three-Month Delay of Enforcement of Red Flags Rule

The Federal Trade Commission will delay enforcement of the new Red Flags Rule until August 1, 2009, to give creditors and financial institutions more time to develop and implement written identity theft prevention programs.

Tags: compliance, Federal Trade Commission, Red Flags Rule

April 21, 2009 - Industry News

FTC Raises the Stakes on Violators

The Federal Trade Commission (FTC) upped the ante on abuses of the FTC Act by increasing the maximum civil penalty for unfair and deceptive acts and practices from $11,000 to $16,000 per violation.

Tags: Federal Trade Commission, Red Flags Rule, Safeguards Rule

April 21, 2009 - Industry News

Automotive Compliance Consultants Offers Compliance and Auditing Solution

Automotive Compliance Consultants Inc. (ACC) has partnered with automotive software provider Stone Meta Inc. to provide an online compliance training and auditing solution called Compliance Solved.

Tags: Adverse Action Notice, compliance, Red Flags Rule

March 30, 2009 - Industry News

Group 1 Automotive Achieves Red Flags Compliance

Compli, a provider of dealership compliance management software, said the use of its Dealership Compliance Management System (DCMS) by Group 1 Automotive in Houston, Texas, has helped the dealership group reach a 98 percent Red Flags compliance level in less than two weeks.

Tags: compliance, Red Flags Rule

March 12, 2009 - Industry News

California Dealer Pleads Guilty to Federal Fraud Charges

An Orange County, Calif., man who owned two Lamborghini dealerships that sold up to 5 percent of all Lamborghinis sold in the world has agreed to plead guilty in a scheme to bilk his floorplanning provider out of millions of dollars.

March 11, 2009 - Industry News

National Credit Center Develops Red Flag Solution

National Credit Center (NCC), a provider of credit reporting and compliance services to the automotive industry, has developed a complete solution for the Red Flags Rule.

March 10, 2009 - Industry News

NAC Provides Dealers With All-in-One Program

NAC, a provider of F&I products and software, has introduced a new program, called NAC Solution, designed to address compliance, training, customer retention, and the F&I products and services the company offers.

March 3, 2009 - Industry News

Hudson Cook Receives Award for Legal Reference Book

Hudson Cook LLP, a nationwide provider of legal compliance services for the financial services industry, has received the silver medal award in the 2009 annual Axiom Business Books Awards competition for its book, “CARLAW F&I Legal Desk Book.”

March 2, 2009 - Industry News

CUDL Offers Wolters Kluwer Compliance Solutions to Credit Union and Auto Dealer Partners

Wolters Kluwer Financial Services announced Monday that CU Direct Corporation (CUDL), a credit union-owned service organization (CUSO), has chosen to offer the company’s indirect lending and credit union-specific solutions to its nationwide lending network of credit union and auto dealer clients.

March 2, 2009 - Industry News

NADA Seminar Takes ‘Deeper Dive’ Into FTC Red Flags Rule

NADA Regulatory Affairs Directory Paul Metrey and attorneys from the Federal Trade Commission (FTC)’s Division of Privacy and Identity Protection — which drafted and enforces the Red Flags Rule — will present a virtual seminar “A Deeper Dive into the FTC Red Flags Rule” on March 26 from 1 to 3 p.m. EST.

Tags: Federal Trade Commission, NADA, Red Flags Rule

May 2, 2006 - Industry News

Compli Launches Expanded Version of Compliance Risk Appraisal Tool

PORTLAND, Ore. -- Compli has launched an expanded version of its free Dealer Compliance Appraisal (DCA) tool at www.compli.com/dcav2.