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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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The CFPB, FRB and DOJ joined forces to host a fair lending webinar. The latter two shed some light on their approach to determining rate discrimination, but the CFPB’s standards for determining disparate impact remain a mystery.
Read More →Compliance expert believes that the current regulatory climate could spell the end of the negotiated car purchase and the deal structure that goes with it.
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At this year’s Industry Summit, F&I product providers discussed everything from the CFPB to CPO. They also weighed in on the future of the F&I office.
Read More →The American Financial Services Association is commissioning a study to address the CFPB’s concerns for discrimination related to rate participation programs. It will also provide a cost-benefit analysis of alternative dealer compensation models.
Read More →On the eve of the CFPB’s first public forum on auto lending, a town council in New Jersey unanimously votes to settle a lawsuit centered on the disparate impact theory.
Read More →A Chicago car dealer allegedly schemed to have his uncle, who was a witness in a federal fraud case, killed. The dealer offered $10,000 to an undercover agent posing as a hit man, according to the Chicago Sun-Times.
Read More →The dealership will pay more than $86,000 to customers who were charged a bogus administrative fee when purchasing a used vehicle, in addition to $50,000 in penalties to the state.
Read More →Ohio Attorney General Mike DeWine is suing a used-car dealership for failing to deliver motor vehicle titles to car buyers. He seeks $11,800 in restitution for customers.
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A New Jersey housing bias case the Supreme Court agreed to hear could end in settlement. If an agreement isn’t reached, the high court could strike down the CFPB’s use of the disparate impact theory in its scrutiny of rate participation programs.
Read More →CFPB Director Richard Cordray responded Monday to lawmaker demands for information on the bureau’s investigation of the indirect financing channel. The director delivered his response a day before Ally revealed in a filing with the SEC that it may be facing ECOA violations.
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