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Pricing for Fun and Profit

Pricing for Fun and Profit

Implementing pricing guidelines is not a guarantee that the regulators will stay away, but properly implemented and managed, it should provide a plausible defense of your F&I pricing practices.

April 29, 2021

Here We Go Again

Here We Go Again

As we enter a new administration, dealers will need to continue navigating new sales processes while also reverting their attention to risk management and government regulators. Let’s take a look at the likely highest risk areas and discuss a plan to mitigate them.

April 14, 2021

Compliance Is Not a Program Du Jour
Questions Better Left Unasked

Questions Better Left Unasked

We all know that terminating an employee may lead to a charge of discrimination. But it can happen at the other end of the employment lifecycle, too – the hiring process.

March 31, 2021

Non-Excuses for Non-Compliance

Non-Excuses for Non-Compliance

Here are three popular excuses when dealership managers try to explain away a compliance violation — don’t let these non-excuses derail your compliance efforts.

March 11, 2021

A Life Lesson on Compliance

A Life Lesson on Compliance

One of the most important things a dealership can incorporate is consistent processes, and that includes a defensible paper trail.

February 25, 2021

Salespeople are Compliance Weakest Links
California: An Unlikely Compliance Model

California: An Unlikely Compliance Model

I propose that your F&I and sales disclosure compliance models mirror the sales and F&I processes at dealerships in California — what is required by statute in California, should be considered best practices in the other 49 states.

December 28, 2020

Why Comply?

Why Comply?

We live in an ‘Age of Compliance Awareness’ and someone is always watching. We should care about what they see.

November 30, 2020

When Should I File FinCEN 8300?

When Should I File FinCEN 8300?

Knowing when to file FinCEN 83011 is serious stuff that could subject the dealership to significant fines after an audit. A little bit of training upfront could avoid some pain later.

November 3, 2020

Reigning in Franken-agency

Reigning in Franken-agency

On June 29, the United States Supreme Court ruled that the structure of the Consumer Financial Protection Bureau was unconstitutional. A compliance expert shares why this matters, and why it matters to dealers in particular.

October 30, 2020

The FTC Suggests We Buckle Up

The FTC Suggests We Buckle Up

The FTC recently issued a report that summarizes its enforcement actions, roundtable findings, consumer workshops, and in-person interviews with 38 Washington D.C. metro-area consumers focused on deceptive advertising practices, spot-delivery, and voluntary protection products.

October 28, 2020

But … the System is Down

But … the System is Down

Most dealers rely on one or more software providers to manage and document all their transactions and many businesses count on a robust disaster recovery plan in the event their IT infrastructure fails.

October 20, 2020

OFAC is Required, Not Recommended

OFAC is Required, Not Recommended

Checking OFAC is not a recommendation – it is required by federal statute. Not taking it seriously could result in major consequences for the dealer.

September 29, 2020

Lessons From the Lockdown

Lessons From the Lockdown

Where we had previously been moving at a sloth pace to digitize the entire buying process, the auto industry is accelerating many processes in response to COVID-19.

September 17, 2020