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NADA and the Miracle on 34th Street
Automotive dealers should follow the National Automobile Dealers Association's consumer-friendly guidelines in order to minimize their legal risks.
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SEARCHMENUSEARCHAutomotive dealers should follow the National Automobile Dealers Association's consumer-friendly guidelines in order to minimize their legal risks.
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According to a report commissioned by the NADA, the average dealership incurred $182,754 in costs to comply with federal mandates in 2012.
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Think your insurance company will cover your dealership’s compliance shortcomings? The magazine’s compliance expert examines recent litigation involving a major dealer group that suggests otherwise.
Read More →The FTC charged the subprime finance source with using illegal tactics to service and collect on consumer loans, including collecting money consumers did not owe, harassing consumers and third parties, and disclosing debts to friends, family and employers.
Read More →Citing an unnamed source, Auto Finance News reported earlier this month that the CFPB is engaged in fair-lending actions against six finance sources. Bureau officials decline to comment.
Read More →The U.S. Senate unanimously approved a bill last week that eliminates a provision in the Clean Air Act that requires dealers issue a certificate to consumers that confirms a vehicle’s compliance with the law.
Read More →The used-car dealer is accused of selling vehicles with mechanical defects, charging illegal fees and repossessing vehicles without the required legal notices. Twenty-two formal complaints were made against the dealer by the time the suit was filed.
Read More →A memo released by the NADA this week states that the CFPB’s proposed method for eliminating fair lending risk in the auto lending arena would do no such thing. Instead, dealers would still have discretion when it comes to selecting a finance source for their customers.
Read More →Tomorrow, RouteOne will discuss discretionary dealer markup practices during a complimentary compliance webinar.
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Fifth Third Bancorp revealed in a regulatory filing this month that its indirect auto loan portfolio is being examined by the Department of Justice to determine whether the finance source engaged in discriminatory practices.
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In a statement posted on its website, Tesla denounced the last-minute addition of wording to legislation in Missouri that would effectively ban the automaker from selling directly to consumers in the state.
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