Through this new relationship, LADA has endorsed Wolters Kluwer Financial Services’ indirect lending business and supports the use of the company’s motor vehicle retail sales installment contracts among its members, which consist of new car and truck dealers across the state of Louisiana. These contracts document the financing of auto loans and are maintained by Wolters Kluwer Financial Services’ compliance experts, who monitor legislative and regulatory changes affecting the indirect finance industry in all U.S. jurisdictions. The contracts are protected by the company’s limited compliance warranty.
“Not only does Wolters Kluwer Financial Services help auto dealers access the loan documents they need, but it also helps ensure that the contracts are continuously updated to reflect regulatory requirements,” said Bob Israel, president of LADA. “This is a key service for our members as they work to maintain compliance with ever-changing industry laws and regulations.”
“We are very pleased to work with LADA, which has built a strong reputation for helping dealerships sustain and grow their businesses,” said Lee Domingue, CEO of indirect lending at Wolters Kluwer Financial Services. “This relationship provides an opportunity to connect with more dealers in the state of Louisiana and help alleviate the regulatory compliance challenges they face.”