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April 10, 2017 - Industry News

American Financial's F&I University Now Offers F&I Compliance Certification

The income development company has partnered with Automotive Compliance Education LLC to provide its dealer customers with a new F&I compliance certification program, which will be offered through the firm's F&I University.

Tags: American Financial & Automotive Services, Automotive Compliance Education, compliance, F&I training, F&I University

February 23, 2017 - Industry News

Georgia Man Pleads Guilty to Odometer Fraud

A Georgia businessman this week pleaded guilty to operating an odometer fraud scheme that revolved around buying later-model cars at auction, tampering with the odometer reading, and then selling the cars at inflated prices, the U.S. Department of Justice announced.

Tags: compliance, Department of Justice, Odometer Fraud

February 22, 2017 - Industry News

Randy Henrick Joins Mosaic Compliance Services

Attorney Randy Henrick has joined Mosaic Compliance Services, where he will serve as vice president and compliance counsel.

Tags: compliance, James Ganther, Mosaic Compliance Consultants, Randy Henrick

February 22, 2017 - Industry News

EFG Launches Multimedia Compliance Platform

The company today announced the launch of Common Sense Compliance, a platform designed to break through the legalese of automotive compliance with practical and actionable information. The platform will feature a video series and podcast hosted by Steve Roennau, the company’s vice president of compliance.

Tags: compliance, EFG Companies, F&I manager, Steve Roennau

February 16, 2017 - Industry News

Tom Hudson Releases Book on Fed Government’s War on Dealers

In his new book, the attorney traces actions over the last five years by the Consumer Financial Protection Bureau and the Federal Trade Commission. It addresses the government's war on several fronts, from advertising and discrimination to disclosure requirements and other everyday compliance issues.

Tags: compliance, Consumer Financial Protection Bureau, dealer participation, F&I manager, Federal Trade Commission, Hudson Cook LLP, Tom Hudson

February 15, 2017 - Industry News

Hudson Cook LLP Adds Three New Partners

The law firm announced today the election of attorneys Robert Gage, Lauren Hunt, and Jennifer Sarvadi to the partnership.

Tags: compliance, Consumer Financial Protection Bureau, Federal Trade Commission, Hudson Cook LLP

February 8, 2017 - Industry News

Carleton Expands Compliance Expertise

Carleton Inc. announced the hiring of Sarah Way, an attorney whose expertise includes business law, contract development and documentation, intellectual property regulations, property insurance law, and other litigation disciplines.

Tags: Carleton, compliance, Sarah Way

January 25, 2017 - Industry News

RouteOne’s Econtracting Platform Now Features Remote Document Delivery

The new technology allows users of RouteOne's econtracting solution to send their customers a secure link to access their deal files. Buyers can review the documents in the dealership on their own smartphone or tablet, or they can log in at home to review, save or print them for later reference.

Tags: compliance, digital retailing, econtracting, RouteOne

January 19, 2017 - Industry News

Carleton Names New Director of Client and Channel Engagement

The provider of compliance loan calculation and document generation solutions announced that Peter Radike has joined the company’s management team. He bring more than 20 years of experience in the consumer, business, mortgage, credit card, auto, and private-label lending industries.

Tags: auto finance, Carleton, compliance

January 19, 2017 - Industry News

House Republicans Allege CFPB Director Violated U.S. Law in New Report

A new report released by Republican members of the House Financial Services Committee charges CFPB Director Richard Cordray with violating federal law when the regulator published its Larger Participant Rule in June 2015.

Tags: auto finance, CFPB, compliance, FEDERAL REGULATION, House Financial Services Committee

January 19, 2017 - Industry News

Compliance Summit Returns to Texas in September

Held alongside Industry Summit for the second consecutive year, Compliance Summit will include one full day of compliance education for dealers, managers, and sales and F&I professionals. An onsite certification courtesy of Automotive Compliance Education (ACE) will be available to all attendees the following day.

Tags: auto finance, Best Training Day Ever, compliance, Compliance Summit, F&I training, Industry Summit

January 4, 2017 - Industry News

Automotive Compliance Consultants Field Manager Earns Compliance Certification

Automotive Compliance Consultants announced this week that Texas field manager Ron Keable has earned the National Automotive Finance Association's consumer credit compliance expert designation

Tags: Automotive Compliance Consultants, compliance, National Automotive Finance Association

December 1, 2016 - Industry News

Fed Reserve, CFPB Leave TILA, CLA Dollar Thresholds the Same for 2017

The two agencies announced before Thanksgiving that the dollar thresholds in the TILA’s Reg Z. and the CLA’s Reg. M for exempt consumer credit transaction will remain at $54,600 for 2017.

Tags: compliance, Consumer Leasing Act, leasing, new-vehicle financing, Regulation M, Regulation Z, Truth in Lending Act

October 18, 2016 - Industry News

Survey: Consumers Dissatisfied With How Dealers Resolve Complaints

Results of an online consumer survey conducted by Total Dealer Compliance show high levels of consumer dissatisfaction with how dealers resolve their complaints.

Tags: Complaints, compliance, Survey, Total Dealer Compliance

October 18, 2016 - Industry News

Firm Urges Dealers to Remain Vigilant in Wake of CFPB Ruling

Automotive Compliance Consultants warned dealers not to let their guard down after last week’s federal appeals court ruling that the CFPB’s structure is unconstitutional. The firm said other regulators have taken note of the bureau’s activities, adding that next month’s elections will determine if the ruling has teeth.

Tags: CFPB, compliance, Consumer Financial Protection Bureau, customer disclosures, dealer markups, dealer participation, F&I products

October 11, 2016 - Industry News

Federal Appeals Court Rules CFPB Structure Unconstitutional

On Tuesday, a federal appeals court ruled that the structure of the Consumer Financial Protection Bureau is unconstitutional. The appellant court’s main issue is the bureau’s single-director structure.

Tags: compliance, Consumer Financial Protection Bureau

September 29, 2016 - Industry News

Nine-Store Los Angeles Group Charged With Payment Packing, Yo-Yo Financing

The Federal Trade Commission today charged nine Los Angeles-area dealerships and their owners with a wide range of deceptive, and unfair sales and financing practices, including payment packing and using "yo-yo" finanicng tactics.

Tags: compliance, Dealership, Deceptive Advertising, FTC, Regulation M, Regulation Z, TILA

September 22, 2016 - Industry News

CFPB Sues Five Arizona Auto-Title Lenders

The bureau charged the title lenders with violating the Truth in Lending Act for failing to disclose annual percentage rates in online loan advertisements. It is seeking civil monetary penalties and administrative orders requiring the companies to correct their practices.

Tags: auto finance, Auto Title Loans, CFPB, compliance

August 16, 2016 - Industry News

Pew: CFPB Small-Dollar Rule ‘Would Not Adequately Protect Borrowers’

The Consumer Financial Protection Bureau’s small-dollar lending rule would neither adequately protect borrowers, nor address the risks created by the shift toward installment credit in the payday and auto title lending market, an analysis by Pew Charitable Trusts concludes.

Tags: auto finance, Auto Title Loans, CFPB, compliance, Payday Lending

August 11, 2016 - Industry News

700Credit Signs Distribution Agreement With Kiss Concepts

The master agent, which operates in 33 states, will distribute 700Credit’s credit reports, compliance and prescreen products and services.

Tags: 700Credit, compliance, credit prescreening, credit reports, F&I process, KISS Concepts Group

August 11, 2016 - Industry News

Radogna to Present ‘Reduce Your Exposure’ at Las Vegas Compliance Summit

Jim Radogna, a San Diego-based compliance expert and trainer, will serve as the luncheon speaker at the upcoming Compliance Summit, organizers announced Thursday.

Tags: Car Buyer's Bill of Rights, compliance, Compliance Summit, Jim Radogna, Regulations

August 2, 2016 - Industry News

Crisorio to Helm Processes and Controls Panel at Compliance Summit

Organizers of the upcoming Compliance Summit have announced that United Development Systems Inc. (UDS)’s Brian Crisorio will lead a panel discussion dedicated to “Easy-to-Implement Processes and Controls” at the 2016 event, which will be held Aug. 29–30 at Paris Las Vegas as part of the annual Industry Summit.

Tags: Brian Crisorio, CNA National, compliance, Dealer Safeguard Solutions, F&I Express, F&I manager, UDS

August 2, 2016 - Industry News

Maledon to Lead Rules and Regs Panel at Compliance Summit

Attorney and compliance expert Michael Maledon will serve as moderator for a panel discussion devoted to rules and regulations at the upcoming Compliance Summit, organizers announced Tuesday.

Tags: Alpha Warranty Corp., Compli, compliance, Compliance Summit, EFG Companies, F&I manager, Michael Maledon

July 27, 2016 - Industry News

FTC Issues Refunds to Buyers of Bogus "Extended Auto Warranties'

The Federal Trade Commission (FTC)'s six-year effort to collect on a $4.2 million judgement against a telemarketer of “extended auto warranties” came to a end last week. The telemarketer, which did business under the name My Car Solutions, led victims to believe it was affiliated with auto dealers and manufacturers.

Tags: compliance, extended warranties, F&I products, FTC, Robocalls, telemarketing, vehicle service contracts

July 21, 2016 - Industry News

Trade Groups Call on U.S. Senators to Support CFPB-Reform Bill

The same week the CFPB celebrated its five-year anniversary, trade groups representing various motor vehicle industries urged U.S. Senators to support legislation that would rescind the regulator’s March 2013 guidance on dealer participation, among other things.

Tags: AFSA, auto finance, CFPB, compliance, dealer participation, NADA, NIADA