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January 28, 2014 - Industry News

NADA Launches Fair Credit Compliance Policy and Program

Last week, the NADA announced a new fair lending compliance policy and program designed to help dealers cope with growing pressure from regulators like the CFPB.

Tags: compliance, Consumer Financial Protection Bureau, discrimination, interest rates, NADA Convention and Expo

January 27, 2014 - Industry News

Zurich Helping Dealers Navigate CFPB's Fair Lending Review

Zurich North America worked with Hudson Cook on guidance to help auto dealers protect their dealerships from allegations of unfair lending practices.

Tags: auto dealer, CFPB, compliance, fair lending, Hudson Cook LLP, regulation, Zurich

January 22, 2014 - Industry News

Dealer Marketing Services Hires Director of Credit, Compliance

Dealer Marketing Services Inc. has hired Steve Aeschliman in the newly created position of director of credit and compliance. He will have oversight of the strategic direction, expansion and operation of both credit services and compliance.

Tags: compliance, Credit, Dealer Marketing Services, Hiring

December 19, 2013 - Industry News

Reynolds, VADA Partner on F&I Library

Reynolds and Reynolds’ new Reynolds LAW Virginia F&I Library, a comprehensive catalog of standardized, legally reviewed F&I documents, is now available to franchised new-car and -truck dealers in Virginia.

Tags: AFIP, compliance, Reynolds & Reynolds, Virginia Automobile Dealers Association

December 12, 2013 - Industry News

Report on CFPB Reveals Transparency Issues

A new report shows financial institutions aren’t the only ones calling for more transparency from the CFPB. Consumers are also asking the bureau to be more more open about its activities.

Tags: CFPB, compliance, consumer complaints, Consumer Financial Protection Bureau

November 26, 2013 - Industry News

Dorschel Group’s Michele Myers Aces AFIP Exam

The Association of Finance and Insurance Professionals announced that Michele Myers, vice president of financial services for the Dorschel Group, posted a perfect score on its rigorous 200-question Senior Certification Exam.

Tags: AFIP, certification, compliance

November 21, 2013 - Industry News

NAF Association Launches Compliance Certification Program

In response to the CFPB’s activities this year, the trade group has launched a new certification program for auto finance sources. The program was developed by Hudson Cook LLP.

Tags: certification, compliance, Consumer Credit, Consumer Financial Protection Bureau, Hudson Cook LLP, legal training, NAF Association

October 31, 2013 - Industry News

N.J. Dealer Agrees to Pay $66K Fine

As part of a settlement for misrepresenting the condition of the cars it sold, Lencore Leasing agreed to pay a $66,000 fine.

Tags: compliance, fine, New Jersey

October 29, 2013 - Industry News

Judge: Ally Violated Bankruptcy Rules

A U.S. bankruptcy judge accused Ally Financial of sending confusing letters to bankrupt customers that demanded payments on debts they no longer owed. Ally was ordered to pay $11,000 to a recipient of such a letter.

Tags: Ally Financial, bankruptcies, compliance, consumer bankruptcies

September 5, 2013 - Industry News

Ohio AG Seeks $94,000 Reimbursement From Used-Car Dealership

Three Ohio brothers who owned a now-defunct used-car dealership are charged with failing to deliver motor vehicle titles to customers. The state’s attorney general seeks $94,000 in reimbursement.

Tags: compliance, Lawsuit, Ohio

August 20, 2013 - Industry News

AFSA Launches New Compliance Committee

The traded association's new Operations and Regulatory Compliance Committee will address the policies, guidance, enforcement actions and regulations issued by the federal government and agencies that impact its members.

Tags: AFSA, compliance, Dodd-Frank Act

August 15, 2013 - Industry News

Certegy Settles With FTC for Fair Credit Act Violations

Certegy Check Services Inc. has agreed to pay $3.5 million to settle Federal Trade Commission charges that it violated the Fair Credit Reporting Act.

Tags: compliance, Fair Credit Reporting Act, Federal Trade Commission

August 1, 2013 - Industry News

Compli and Swan Island Networks Partner for Cyber Security Awareness

Compli and Swan Island Networks integrate Cybero and Complí Portfolio technology for a comprehensive suite of SaaS solutions.

Tags: automotive, Compli, compliance, Cyber Security, dealers, software

April 25, 2013 - Industry News

Compli Wins 2013 GRC Technology Innovation Award

Compli Portfolio beat out more than 45 technology solutions to be named winner in the competition for governance, risk and compliance (GRC).

Tags: Award, Compli, Compli Portfolio, compliance, governance, GRC, risk, technology

February 12, 2013 - Industry News

American Financial Launches Dealer Compliance Initiative

F&I company rolls out robust compliance program designed to help dealerships understand and train their teams on their legal obligations.

Tags: American Financial & Automotive Services, compliance, compliance initiative, Gil Van Over

January 29, 2013 - Industry News

Compli to Unveil New Compliance Tools at 2013 NADA Convention

Compli will unveil at the 2013 NADA Convention and Expo a new SaaS platform for its HR and complaince management software.

Tags: Compli, compliance, NADA, Portfolio, Saas

January 22, 2013 - Industry News

CounselorLibrary.com Releases Servicemembers Compliance Guide

Compliance Guide — Servicemembers Civil Relief Act by James Chareq is now available. The guide is being published as part of The CARLAW Compliance Series.

Tags: CARLAW, compliance, compliance guide, James Chareq, Servicemembers Civil Relief Act

September 6, 2012 - Industry News

TrueCar Revamps Pricing Curve

As TrueCar aims to regain a positive image and win back dealers, the marketing service revamped its pricing curve by eliminating ‘dealer cost.’

Tags: compliance, dealer cost, DMS, pricing curve, Stewart Easterby, TrueCar, TrueCar.com

August 16, 2012 - Industry News

[Video] Tip of the Week: How Compliant Is Your Presentation?

United Development Systems’ Gerry Gould gets a little controversial in his newest Tip of the Week. The director of training for United Development Systems talks transparency, ethics and the different between a noncompliant and compliant presentation.

Tags: compliance, F&I Presentation, Gerry Gould, Tip of the Week, UDS, United Development Systems

August 7, 2012 - Industry News

Hudson Cook Adds Eight Attorneys, Opens Three New Offices

Top New England and Tennessee financial services groups join the compliance law firm.

Tags: compliance, Hudson Cook LLP, Tom Hudson

April 5, 2012 - Industry News

FTC Targets Two Auto Loan Modification Companies

The Federal Trade Commission filed charges and requested a U.S. district court to stop the specific practices of two auto loan modification companies operating in California.

Tags: Auto Loans, compliance, FTC, Loan Modification Companies

April 5, 2012 - Industry News

High-End Vehicles Leased to Smugglers Recovered

Federal customs agents recovered a stolen 2010 Ferrari 458 Italia at Los Angeles' port. Photo: USCBP

Federal customs agents seized 20 high-end stolen vehicles at the Los Angeles/Long Beach Seaport. Bound for Asia, the vehicles were leased by several dealerships to smugglers using false identifies.

Tags: compliance, GPS devices, identity theft, Red Flags Rule, Stolen Vehicle

April 3, 2012 - Industry News

DealerTrack Offers Compliance Audits to Subscribers

DealerTrack's new Audit Protect program generates electronic audit reports and offers offline call support to subscribers of the company's compliance solutions.

Tags: compliance, Dealertrack, Federal Trade Commission

March 22, 2012 - Industry News

DealerTrack Helping Calif. Dealers Comply With New Law

DealerTrack Registration and Titling Services Group is helping California dealers comply with a new state law that will take effect in July. It will require that all used vehicle offered for sale have a vehicles history report pulled from the National Motor Vehicle Title and Information System (NMVTIS).

Tags: California, California New Car Dealers Association, compliance, Dealertrack

March 15, 2012 - Industry News

5 Dealers Targeted by FTC for Deceptive Ads

Five car dealers have agreed to Federal Trade Commission settlement orders that require them to stop running ads in which they promise to pay off a consumer's trade-in no matter what the consumer owes on the vehicle.

Tags: compliance, Dealer Advertising, Regulation Z, TILA