NEW ORLEANS — Industry Summit organizers announced that compliance expert Terry O’Loughlin will kick off Compliance Summit with his featured presentation, “A Fine Kettle of Fish: Dealer Plights with Fraud and Legal Challenges.” The 2019 event is scheduled for Nov. 4–6 at the New Orleans Marriott.
O’Loughlin serves as Reynolds Document Solutions’ director of compliance. In regard to his presentation, he said, “It is shocking to recognize that car dealers may be the most regulated industry in the United States. This is especially true in F&I and, unfortunately, a small minority of dealers, to a great extent, have created this problem.”
“It is shocking to recognize that car dealers may be the most regulated industry in the United States."
Regulators “chortle” that they can never go wrong investigating or suing car dealers, O’Loughlin said. But what are these daunting practices, especially focusing on F&I, both new and old, that invite this type of derision and potential liability? Are there remedies that a dealer and the industry can implement to steel themselves from these challenges? The answer is affirmative, he said, and the remedies may be surprising.
“However, all dealers must intelligently contend with these challenges with sound remedies that this presentation, as a blueprint, will present,” O’Loughlin added.
The first 100 active auto dealers and dealership general managers who register for this year’s event online with promo code F&I100 will receive their full show pass for no charge.