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Compliance

Newsby Brittany-Marie SwansonMarch 17, 2015

Cordray: CFPB Disagrees With Conclusions of CRA Study

CFPB Director Richard Cordray fielded questions about dealer compliance programs and a recent study calling out the bureau’s methods for determining discrimination during a semi-annual report to Congress earlier this month.

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NewsMarch 12, 2015

Midwest Compliance Summit Set for April

The next Compliance Summit event is set to be held April 20–21, 2015, in Illinois. The full day of educational sessions is open to automotive industry professionals involved in front-end compliance.

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NewsMarch 12, 2015

Former Dealership Office Manager Sentenced to Prison

The former office manager of a Pennsylvania dealership was sentenced to three and a half years in federal prison for stealing nearly $700,000 from the business.

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NewsMarch 12, 2015

Santander’s Capital Plans Don’t Hold Up to Fed Review

The Federal Reserve has objected to Santander Holdings USA’s capital plans due to widespread deficiencies in governance, internal controls, risk identification and management, as well as other key areas.

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Newsby Brittany-Marie SwansonMarch 11, 2015

TrueCar Responds to Claims in Mass Action Lawsuit

The lead provider calls Bellavia Blatt & Crossett’s mass action suit challenging its business practices “meritless.”

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NewsMarch 11, 2015

Arbitration Clauses Limit Consumer Relief, CFPB Says

In a report released this week, the regulator revealed that 75% of consumers did not know whether they were subject to an arbitration clause in their agreements with their financial service providers. The study covered six different consumer finance markets, including auto loans.

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Newsby Brittany-Marie SwansonMarch 10, 2015

Mass Action Suit Filed Against TrueCar

The law firm of Bellavia Blatt & Crossett has filed a mass action lawsuit against TrueCar, claiming that the lead provider’s business practices constitute false advertising.

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NewsMarch 10, 2015

Dealer, Employee Charged With Threatening Customer

Charges were filed against the owner and an employee of F&R Auto Sales after a customer claimed they threatened her. The dealership first made headlines in January when a video of its employees harassing a pizza delivery man went viral.

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Articlesby Gregory ArroyoMarch 10, 2015

Ready to Charge

Auto finance sources reveal that they, too, are focused on the customer experience, and say they are ready for what’s expected to be another great year for auto sales.

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Articlesby Nicole MunroMarch 10, 2015

Seismic Shift

The magazine’s resident legal expert offers her take on why state and federal regulators were so active in auto finance at the close of 2014.

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