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Red Flags

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November 2017, F&I and Showroom - Feature

To Catch a Thief

By Gil Van Over

The magazine’s resident compliance pro says Red Flags tools aren’t foolproof. He offers four tips for vetting suspicious buyers who seem to have all the right answers.

Tags: auto finance, compliance, F&I process, identity theft, Red Flags Rule

July 2017, F&I and Showroom - Feature

Kinks Will Be Kinks

By Gil Van Over

Electronic processes won’t cure the ‘kinks’ who flout the rules and regulations governing F&I, but they will make their bad behavior easier to track.

Tags: auto finance, compliance, Credit Applications, desk managers, desking, Gil Van Over, payment packing

July 2017, F&I and Showroom - WebXclusive

FIDOY Nomination Period Extended to July 21

By Editorial Staff

The magazine has extended the nomination period for its 2017 F&I Dealer of the Year contest to July 21. Dealership employees, general agents, vendors, finance sources, and F&I product providers are encouraged to nominate their stores and dealer clients.

Tags: American Financial & Automotive Services, DOY Pacesetters, DOY Winners, F&I office

March 2017, F&I and Showroom - Feature

The Rising Cost of Noncompliance

Ken Suprenant 

By Ken Suprenant

Compliance expert says the propagation of rules and escalation of enforcement should persuade more dealers to invest in basic compliance safeguards.

Tags: compliance, National Credit Center, OFAC checks, Red Flags Rule, Safeguards Rule

February 2017, F&I and Showroom - Feature

Treat Red Flags Like Subprime Stips

By Gil Van Over

Well-meaning F&I managers can unwittingly clear a Red Flag before it is actually cleared. Compliance expert has a simple plan to button up your documentation process.

Tags: compliance, F&I manager, Red Flags Rule, Stips, subprime

August 2016, F&I and Showroom - WebXclusive

Magazine Offers Details on Compliance Summit Program

By Tariq Kamal

Scheduled for Aug. 29-30, Compliance Summit is designed to deliver a crash course in federal regulations and enforcement action to help dealers, agents and industry execs build sustainable sales and F&I processes without sacrificing productivity and profitability.

Tags: ARMD resource Group, CNA National, Compli, compliance, Compliance Summit, Dealer Compliance Consultants, EFG Companies, F&I Express, gvo3 & Associates, Mosaic Compliance Consultants, NFADA, Reynolds & Reynolds, The Warranty Group, Total Dealer Compliance, UDS

February 2016, F&I and Showroom - Feature

The CFPB's Misguided Crusade

By Dave Robertson

AFIP's executive director has some choice words for President Obama, Sen. Warren and the 'smartest guys in the room.'

Tags: Consumer Financial Protection Bureau, Dodd-Frank Act, President Obama

October 2014, F&I and Showroom - Feature

Preparing for the Advertising Police

By Joel Winston

A former FTC official and current partner with Hudson Cook LLP issues a warning about dealer advertising.

Tags: Deceptive Advertising, Federal Trade Commission, Hudson Cook LLP, Legal, Regulations

October 2014, F&I and Showroom - Feature

Proceed With Caution

By Melinda Zabritski

Data from the second quarter didn't support talk of a subprime auto bubble, with subprime financing showing signs of leveling off and delinquencies remaining at historic lows.

Tags: 30-day delinquency rate, 60-Day Delinquency Rate, Repossessions, risk, subprime

July 2014, F&I and Showroom - Cover Story

Click to Enter

Sun Toyota, which has operated along the Gulf Coast of Florida for 37 years, is well known for its state-of-the-art facility and no dealer fee policy.

By Justina Ly

Not all dealers had today’s Internet customer in mind when they joined the digital revolution. For Sun Toyota, the Great Recession was all the motivation it needed.

Tags: Business Development Center, Dealer Websites, Finance, Internet Leads, Online, Toyota

April 2013, F&I and Showroom - Feature

To Catch a Customer

The NADA’s leadership takes a tour of the show floor at the association’s annual convention.

By Gregory Arroyo

Optimists at the NADA and the AFSA conferences believe the industry is primed to sell a million more vehicles this year than in 2012. But as one dealer rep said, it’s going to take a unified effort to make that prediction a reality.

Tags: Allstate Dealer Services, Ally Financial, Dealertrack, Equifax, Gregory Arroyo, LoJack, NADA Convention and Expo

October 2012, F&I and Showroom - Feature

To Catch a Thief

Compliance software helped Jason Gorr confirm his suspicions about a customer posing as a car buyer from Tennessee. His actions helped law enforcement arrest the ID thief, who had bilked five dealerships in four states.

By Erin Spandorf

Standing on the front lines of the government’s campaigns against terrorist activity and identity theft has put dealers in a tough spot — especially when that fight steps foot inside the dealership.

Tags: Erin Spandorf, identity theft, OFAC, Red Flags Rule

May 2012, F&I and Showroom - Feature

Facts, Anyone?

By Tom Hudson

Stories about dealer practices that harm consumers are prevalent, but the facts seem to be difficult to come by.

Tags: CFPB, compliance, FTC, Hudson Cook LLP

April 2012, F&I and Showroom - Feature

Show of Force

By Michael Benoit

The nation’s chief enforcement agency singled out five dealers for deceptive advertising in March. The magazine’s resident legal wiz weighs in.

Tags: Civil Investigative Demand, CLA, Dealer Advertising, FTC, TILA

February 2012, F&I and Showroom - Feature

10 Predictions for 2012

By Tom Hudson

The magazine’s legal wiz shines up his crystal ball to offer his predictions on how the CFPB and the FTC will flex their regulatory muscles in 2012.

Tags: CFPB, Consumer Financial Protection Bureau, FEDERAL REGULATION, Federal Trade Commission, Legal, legislation

October 2011, F&I and Showroom - Cover Story

Setting the Pace

(L-R): Steve Veldkamp, Jodi Nicholson, Raymond Borg and Gary Allgeier on one of The Suburban Collection’s lots.

By Gregory Arroyo

Meet the seven finalists for F&I Dealer of the Year, the winner of which will be profiled in the magazine’s November issue.

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

January 2009, F&I and Showroom - Feature

Deciphering Social Security Numbers

By Gregory Arroyo

Federal regulators estimate that 4 percent of identity theft involves the stealing of Social Security numbers belonging to children. What dealerships need to realize is the perfect way to combat this is by simply examining those nine little digits.

Tags: DECEASED, Red Flags Rule, Social Security Numbers

January 2009, F&I and Showroom - Feature

Finding the Right Solution

By Gregory Arroyo

The Red Flag Rule will definitely be a hot topic at this year's National Automobile Dealers Association (NADA) convention. Here are a few questions to help you find the right solution.

Tags: identity theft, NADA, Red Flags Rule

January 2009, F&I and Showroom - Feature

Creating an ID Theft Prevention Program

By Gregory Arroyo

Before you start searching for the finalized document on the Red Flag Rule, understand that it's 256 pages.

Tags: fraud, identity theft, PERSONAL IDENTIFICATION INFORMATION, Red Flags Rule

January 2009, F&I and Showroom - Feature

The Red Flag Rule

By Gregory Arroyo

Dealers will need to know how to react when a red flag is raised, and will have to document each situation.

Tags: Fair and Accurate Credit Transactions Act of 2003, Fair Credit Reporting Act, fraud, identity theft, Red Flags Rule, Social Security Numbers

January 2009, F&I and Showroom - Feature

Red Flag Rules

By Gregory Arroyo

Red Flags identified by regulators in final Red Flags Rule

Tags: Credit Applications, fraud, identity theft, PERSONAL IDENTIFICATION INFORMATION, Red Flags Rule, Social Security Numbers

January 2009, F&I and Showroom - Feature

F&I Red Flags 101

By Gregory Arroyo

A Red Flag is a pattern, practice or specific activity that indicates the possible existence of identity theft.

Tags: FEDERAL REGULATION, Federal Trade Commission, fraud, identity theft, Red Flags Rule

December 2008, F&I and Showroom - Feature

Game On for Red Flags

By Michael Benoit

Many financial institutions and creditors around the country have spent the last six or so months working diligently to implement their identity theft prevention programs as mandated by Congress and the Federal Trade Commission’s new Red Flags Rule.

Tags: compliance, Federal Trade Commission, Legal, Michael Benoit, Red Flags Rule

January 2008, F&I and Showroom - Feature

Red Flag Warning

By Michael Benoit

Unless you’ve been living under a rock, you all know that Southern California has had its share of devastating wildfires over the last several months. If you live in Southern California, you’ve experienced the hot Santa Ana winds and the “red flag warnings” that accompany them — that is, warnings of the potential for such a catastrophe.

Tags: compliance, Legal, Michael Benoit, Red Flags Rule

December 2007, F&I and Showroom - Feature

Regulators and the Red Flag Rule

By Gregory Arroyo

Red Flag Compliance will require a combination of dealer-created procedures, legal counsel and technology.

November 2007, F&I and Showroom - Feature

31 Reasons to be Worried

By Gregory Arroyo

A post made on Oct. 2 on the magazine’s F&I Forum made me think, “What a great story of a dealer doing it right.” But that was before I talked to Mark O’Neil, CEO of DealerTrack, about something he discussed during his keynote address at the magazine’s September F&I Conference and Expo.

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

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