Gregory Arroyo
Editorial Director
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The new rule is set to take effect 60 days after publication in the Federal Register. It comes more than two years after the bureau studied mandatory arbitration clauses and one year after it proposed to ban such clauses in consumer finance contracts.
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The editor offers a breakdown of Industry Summit 2017, which will feature F&I Think Tank, the Special Finance Conference, Compliance Summit, and The Best Training Day Ever.
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Aside from entitling dealers to benefits and incentives tied to an OEM-ordered renovation for up to 10 years after construction is completed, the new law prohibits manufacturers from creating and enforcing performance standards that are unfair and don’t account for local and regional differences.
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The Federal Open Market Committee approved a quarter-point hike in the federal funds rate. While auto loans aren’t expected to change much, the rate increase will cost credit card users roughly $1.5 billion in extra finance charges this year, according to one estimate.
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Four days after the U.S. House passed a bill aimed at reversing a number of Dodd-Frank financial regulations and scaling back the CFPB’s authority, the Treasury Department recommended that the bureau’s powers be reduced in a report containing more than 100 suggestions for financial reform.
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The editor takes you inside a conference that had digital retailing makers wooing auto finance execs.
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Cox Automotive’s Mark O’Neil talks to the editor about MakeMyDeal’s future, digital retailing, and the fate of the F&I office.
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The F&I product provider rolled out a new virtual F&I model aimed at powersports and independent dealers, but the executive overseeing the service offered several scenarios in which Simplicity Finance and Insurance can help franchised dealers.
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Things haven’t gone according to script in the used-vehicle market, but GWC Warranty’s Mike Melby believes the profit potential in the high-mileage, pre-owned space remains.
Read More →What was supposed to be a listen-and-learn assignment turns into fodder for the editor’s monthly page, and he thinks you’ll understand why.
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