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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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New legislation aimed at strengthening dealer protections under California’s franchise laws will have its first committee hearing on Monday. One of its provisions specifically addresses the disclosure policy General Motors issued last summer regarding the sale of non-GM service contracts.
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Today’s vote leaves it up to the House of Representatives to pass its version of the joint resolution of disapproval. Once that happens, only the president’s signature stands in the way of the industry’s more than five-year campaign to get the CFPB’s controversial guidance repealed.
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Wells Fargo’s first-quarter earnings call was staged amid a string of regulatory concerns, declining auto originations, and the sale of a Puerto Rican subsidiary. But the company’s chief executive said the bank’s auto finance business will grow again.
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U.S. Senate Banking Committee Republican Pat Toomey said on Tuesday the panel plans to scrap the CFPB’s guidance on dealer participation and leverage lending.
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According to a report in The Wall Street Journal, the review of GAP refunds the bank initiated last year has expanded to other F&I products and services.
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Overlooking past misdeeds and criminal convictions to land top-performing salespeople puts dealers at risk of losing everything when risky hires revert to old habits.
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Michigan dealer Wes Lutz outlined his chief concerns as the new chairman of the National Automotive Dealers Association.
Read More →The regulator had charged in an administrative complaint that the proposed sale violates federal antitrust laws. The two companies subsequently announced they are abandoning the proposed merger. Auto/Mate officials said the technology company is no longer for sale.
Read More →The D.C. Circuit Court of Appeals vacated the FCC’s rule clarifying what devices qualify as automated telephone dialing systems, saying the agency’s explanation ‘invites conclusions that all smartphones are autodialers.’
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Make anti-harassment training stick by creating a program that addresses leadership and accountability, clear policies, compliance training, and reporting and investigation.
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