The 5 Key Credit Determinants
There are five key credit determinants that lending institutions take into consideration when making the decision to extend credit.
Gil Van Over of Automotive Compliance Education (ACE) tackles your most pressing regulatory concerns and the latest enforcement actions.
There are five key credit determinants that lending institutions take into consideration when making the decision to extend credit.
A compliant credit application process is a pivotal part of the job. Do not let the process slip or a dealership could find themselves in some deep water.
We all know identity theft is running rampant across the nation, making it even more important for dealers to do their due diligence when it comes to the digital delivery process.
If you do not have a CMS and continuous monitoring in place now, today is a good day to start.
One of the most important things a dealership can incorporate is consistent processes, and that includes a defensible paper trail.
Compliance expert shares simple tips you can use to structure your “road to the sale” training.
Knowing when to file FinCEN 83011 is serious stuff that could subject the dealership to significant fines after an audit. A little bit of training upfront could avoid some pain later.
Most dealers rely on one or more software providers to manage and document all their transactions and many businesses count on a robust disaster recovery plan in the event their IT infrastructure fails.
Checking OFAC is not a recommendation – it is required by federal statute. Not taking it seriously could result in major consequences for the dealer.
Where we had previously been moving at a sloth pace to digitize the entire buying process, the auto industry is accelerating many processes in response to COVID-19.
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