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Dealers must be careful they don’t run afoul of the law when it comes to such deceptive practices, as there are many cases pointing to the potential bad ends of such deals.
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The Idaho Attorney General has reached an agreement with a dealership that will prohibit it from engaging in harassing debt collection or repossession acts or practices. The dealership also resolved several consumer complaints.
Read More →A dealership manager was ordered to pay at least $50,000 for keeping money given to him by customers for extended service contracts.
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Seven financial organizations issued a letter to the U.S. House of Representatives on May 29 in support of an amendment to an appropriations bill that would limit Justice Department litigation relying on the disparate impact theory of discrimination.
Read More →The combined average age of all light vehicles on the road in the U.S. remained steady at 11.4 years. IHS says the average age is likely to remain at 11.4 years through 2015.
Read More →Getting customers to say “Yes” to your road hazard tire-and-wheel program may be as easy as asking them how they feel. United Development Systems’ Gerry Gould explains in F&I’s Tip of the Week.
Read More →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.
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