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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

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

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

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

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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