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Compliance

NewsSeptember 26, 2013

Auto Suppliers Ordered to Pay $740M for Price Fixing

The conspiracies affected more than $5 billion in automobile parts sold to U.S. car manufacturers, and more than 25 million cars purchased by American consumers, the Department of Justice announced.

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NewsSeptember 26, 2013

Wyoming Man Sentenced in Car Fraud Case

A man was sentenced to 12 to 26 years in prison for writing bad checks and using a fake dealer’s license number to purchase cars at the Nebraska Auto Auction in 2011.

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NewsSeptember 19, 2013

CFPB Orders Chase, JPMorgan to Refund $309M to Customers

The CFPB ordered another bank’s credit card division to repay customers for the way it delivered "add-on products" to customers.

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NewsSeptember 10, 2013

Dealertrack Releases ECOA/Fair Lending Compliance Resources

The technology firm’s new model compliance template and supporting worksheets are designed to help dealers develop fair lending policies and address potential credit discrimination audits.

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Newsby Brittany-Marie SwansonSeptember 6, 2013

NADA Issues Dealer Data Guidance

The NADA issued a memo to members last week that outlines regulatory requirements for protecting the consumer information they collect. The memo follows warnings about data access from the FTC and F&I and Showroom columnist Jim Ziegler.

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NewsSeptember 5, 2013

Ohio AG Seeks $94,000 Reimbursement From Used-Car Dealership

Three Ohio brothers who owned a now-defunct used-car dealership are charged with failing to deliver motor vehicle titles to customers. The state’s attorney general seeks $94,000 in reimbursement.

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NewsSeptember 3, 2013

[Video] Conference Update: F&I’s Arroyo Discusses Trainers Slated for 2013 Conference

F&I and Showroom’s Gregory Arroyo offers a few details on the F&I training sessions scheduled for the 2013 F&I Conference and Expo.

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NewsSeptember 3, 2013

New-Vehicle Financing, Leasing Reach New Highs

Experian Automotive reports that 84.5 percent of consumers used a loan or a lease to purchase a new vehicle in the second quarter, with leasing accounting for 27.64 percent of all new vehicles financed during the quarter.

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NewsSeptember 3, 2013

2 Dealers Accused of False Advertising Settle With FTC

As part of their settlement with the FTC, two dealers from Maryland and Ohio are prohibited from advertising discounts or prices unless the ads clearly disclose any qualifications or restrictions.

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NewsAugust 29, 2013

[Video] Dodd-Frank Act to Headline F&I Conference and Expo

The magazine will convene an all-star cast of compliance and regulatory experts to delve into the Dodd-Frank Act and the Consumer Financial Protection Bureau. They’ll also touch on what’s happening at the state level.

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