NEW ORLEANS — Organizers of the 2019 P&A Leadership Summit announced that F&I Sentinel PLLC’s Stephen K. McDaniel will join PALS for the first time. He intends to share with attendees his experiences with assisting finance companies with the development and implementation of processes to review F&I products to ensure compliance with state and federal law.
This year’s event will be held Nov. 4–6 at the New Orleans Marriott. McDaniel’s session will begin at 10:55 a.m. on Wednesday, Nov. 6.
“Since the creation of the CFPB, we have seen a significant increase with respect to the scrutiny placed on the financing of F&I products,” said McDaniel. “To address that scrutiny, auto finance companies are implementing review processes for F&I products prior to agreeing to finance them. We have worked with some of the largest auto finance companies in the country to implement a web-based solution to address this risk.”
“I look forward to speaking with the group to help educate attendees on this process, why it exists, and best practices to ensure a smooth review and speedy approval when submitting an F&I product for approval for financing."
McDaniel said regulatory scrutiny of auto finance companies and their financing of F&I products is at an all-time high since the enactment of federal Dodd-Frank Act. More finance companies now review F&I products prior to agreeing to finance them. McDaniel promised to tell attendees what they need to know about the review process and what the future likely holds for the financing of these products.
“I look forward to speaking with the group to help educate attendees on this process, why it exists, and best practices to ensure a smooth review and speedy approval when submitting an F&I product for approval for financing,” he added.
More details about PALS 2019, including registration and the agenda, are available at the events website. To discuss sponsorship or exhibition opportunities, contact David Gesualdo via email or at 727-947-4027. The event’s discounted room rate of $209/night is available until Nov. 18 and organizers are encouraging to attendees to secure their place today.
Originally posted on P&A Magazine