Articles
Line 1 Is Not a Junk Drawer
Rolling products into the cash price — even if the bank told you to — misrepresents the vehicle’s value and runs afoul of four federal laws.
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F&I Showroom Magazine
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SEARCHMENUSEARCHRolling products into the cash price — even if the bank told you to — misrepresents the vehicle’s value and runs afoul of four federal laws.
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Automotive Compliance Consultants will exhibit its WICS methodology for ensuring auto retailer compliance at both the American Financial Services Association and the National Automobile Dealers Association conventions in New Orleans in January.
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The F&I Conference’s compliance panel offered up more questions than answers, but participants made clear the industry’s newest regulator has plenty of tools at its disposal.
Read More →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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