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Compliance

Reynolds, VADA Partner on F&I Library

December 19, 2013

DAYTON, Ohio — Reynolds and Reynolds’ new Reynolds LAW Virginia F&I Library, a comprehensive catalog of standardized, legally reviewed finance and insurance documents, is now available to franchised new-car and -truck dealers in Virginia. Reynolds Document Services offers similar LAW brand forms libraries to automobile retailers in California, Pennsylvania and West Virginia.

The Reynolds LAW brand library of forms was developed jointly through a partnership between Reynolds Document Services and the Virginia Automobile Dealers Association (VADA).

“Changing regulations and new demands from consumers have increased the pressure on dealers to improve their F&I operations,” said Jerry Kirwan, senior vice president and general manager of Reynolds Document Services. “As a result, dealers are looking for trusted ways to help them meet current compliancy standards, as well as stay up to date with customer service trends, improve efficiency in their F&I department and offer consumers an improved car-buying experience.”

The LAW Virginia F&I Library of documents was created and will be maintained by the combined expertise of Reynolds’ Director of Compliance Terry O’Loughlin, Reynolds’ AFIP Certified compliance legal specialists and the VADA.

“The Reynolds LAW Virginia F&I Library remains true to our core purpose of providing our member dealers with important business information and protecting their business interests,” said Don Hall, president and CEO of VADA. “The VADA is pleased to partner with Reynolds to introduce this library of standardized vehicle sales forms. We’re confident the library will help improve F&I operations and increase compliance, while reducing risk for our members. It will also help reinforce a consistent process in F&I that can enhance the car-buying experience for consumers.”

Reynolds’ LAW forms are available in all 50 states and Washington, D.C., and have been endorsed by a number of state automobile dealers associations and leading automotive finance institutions. The flagship product of the LAW brand is the Reynolds LAW® 553 Universal Retail Sale Contract, which is available in a number of different languages and is regularly reviewed by industry experts to help keep pace with new legislative and regulatory developments.

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