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Reports and accounts at variance show auto dealers’ trust profiles have risen in many consumers’ minds but that there remains a need for greater transparency by some.
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This latest settlement, announced on March 30, will be paid to Connecticut, Delaware, Maine, Massachusetts, New York, Oregon, Pennsylvania, Rhode Island, Vermont, and Washington. The settlement was negotiated with attorneys general from each state.
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Santander Consumer USA will pay $26 million to settle charges brought by the attorneys general of Delaware and Massachusetts.
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The Department of Consumer Affairs (DCA) has filed charges against Queens-based Major World and its three used-vehicle dealerships for allegedly employing deceptive financing and sales practices that targeted low-income and immigrant consumers.
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Auto dealer regulations face an uncertain future under the Trump presidency. Two California-based attorneys take a look at the road ahead for the CFPB, the FTC, and state regulators.
Read More →In an amicus brief filed last Friday, the Justice Department called on the D.C. Circuit Court to uphold the appellate court's 2-1 ruling in a New Jersey-based mortgage company's closely-watched challenge of the CFPB's authority. The agency says it agrees with the court's unconstitutional ruling and 'at-will' remedy.
Read More →Automotive Compliance Education (ACE) and American Financial & Automotive Services partnered to certify American Financial’s entire agent roster.
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The more than 1,000 credit unions on CU Direct’s lending platforms maintained their No. 2 spot on Experian’s auto finance leaderboard in January. And with plateauing demand for new vehicles expected to drive up pre-owned sales, the market appears ripe for credit unions to reap further market share gains.
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The nine-store, Los Angeles-based Sage Automotive Group will pay $3.6 million to settle charges of deceptive and unfair sales and financing tactics, including yo-yo financing and payment packing.
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Describing dealership data breaches as an ‘imminent threat,’ Helion Automotive Technologies’ Eric Nachbahr has issued proactive security recommendations for auto dealers.
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When it comes to out-of-state deliveries, the magazine’s resident compliance guru says proceed with caution. He lays out a simple process for guarding your dealership against ID thieves.
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