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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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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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Compliance expert says the propagation of rules and escalation of enforcement should persuade more dealers to invest in basic compliance safeguards.
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A Georgia businessman this week pleaded guilty to operating an odometer fraud scheme that revolved around buying later-model cars at auction, tampering with the odometer reading, and then selling the cars at inflated prices, the U.S. Department of Justice announced.
Read More →Organizers of Compliance Summit say an 'unprecedented' response to the announcement that the next event will be held alongside Industry Summit at the Gaylord Texan in Grapevine, Texas, all but guarantees the Sept. 11, 2017, event will set new marks for attendance and Automotive Compliance Specialist certification.
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Attorney Randy Henrick has joined Mosaic Compliance Services, where he will serve as vice president and compliance counsel.
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The company today announced the launch of Common Sense Compliance, a platform designed to break through the legalese of automotive compliance with practical and actionable information. The platform will feature a video series and podcast hosted by Steve Roennau, the company’s vice president of compliance.
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The D.C. Circuit granted the bureau’s request to reconsider last October’s three-judge ruling that the bureau’s structure is unconstitutional, vacating a decision that gave the president the authority to remove the director of the CFPB at will.
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