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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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In a bulletin issued today, the CFPB warned banking institutions that they could be on the hook for discriminatory markups imposed by dealers. The bureau’s notice also contains guidance on how finance sources should address fair lending risk.
Read More →Ally Financial revealed in a March filing with the SEC that it is one of the banking institutions being investigated by the CFPB.
Read More →ADESA Analytical Services reported this week that wholesale used-vehicle prices could resume the general softening pattern that began around mid-2012 and before Superstorm Sandy.
Read More →Used-car prices rose 0.8 percent, which is well below the 3 percent increase observed during the same period in 2011 and 2012.
Read More →To date, the U.S. Department of the Treasury has recovered about $29.8 billion of its investment in General Motors.
Read More →The owner of Chopeque Auto Sales and two others were taken into custody on suspicion of selling vehicles to known drug dealers and falsifying down payment amounts, liens and titles.
Read More →At least four banks have 15 days to provide an explanation of their auto lending practices to the Consumer Financial Protection Bureau, or they could face lawsuits.
Read More →The NADA is asking lawmakers to support a bill that would eliminate a mandate that requires that dealers certify whether a new vehicle’s emissions system has been inspected.
Read More →The Pennsylvania owner of Auto Exchange USA is being charged with fraud, theft and impersonating a Notary. Authorities said he pocketed down payments and didn’t pay off existing loans for customers after agreeing to do so.
Read More →The magazine’s legal eagle dusts off his crystal ball to make his annual regulatory predictions. This year, he makes four bold predictions that every dealer needs to read.
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