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The Right Approach to Adverse Action Notices

The Right Approach to Adverse Action Notices

Compliance expert gets into the weeds on adverse actions. He explains why you must send a notice to every affected customer, and breaks down your choice of processes.

February 9, 2018

Spotting by the Book

The magazine’s legal wiz shares a textbook case on what not to do when spot delivering a vehicle.

September 6, 2011

Truncation Redux

The magazine’s legal columnist cites two recent cases to provide dealer guidance on the FCRA’s ‘truncation’ requirement.

April 1, 2010

Tackling Adverse Action Notices

Knowing what triggers an adverse action notice can definitely be baffling, but so can the rules governing content and timing. Legal expert weighs in with part II of PSFI’s series on adverse action notices.

May 1, 2009

Part II: Tackling Adverse Action Notices

Knowing what triggers an adverse action notice can definitely be baffling, but so can the rules governing content and timing. Legal expert weighs in with part II of F&I's series on adverse action notices.

April 1, 2009

Tackling Adverse Action Notices

Learn how your dealership can handle adverse action notices, which are required by the Equal Credit Opportunity Act and the Fair Credit Reporting Act.

March 1, 2009

The Red Flag Rule

Dealers will need to know how to react when a red flag is raised, and will have to document each situation.

January 21, 2009

Auto Finance Marketing Redux: What’s Old is New Again

Dealers have been contracting for years with marketing companies that use so-called prescreen lists to offer auto financing to qualified consumers. The Fair Credit Reporting Act (FCRA) requires that each person on such a list receive a “firm offer of credit”.

June 1, 2008

What’s On Your Receipt?

I’ve mentioned the Fair and Accurate Credit Transaction Act of 2003 (FACTA) several times in this column. You’ll recall that FACTA made significant amendments to the Fair Credit Reporting Act (FCRA), many in ways one may not have expected.

May 1, 2008

What’s On Your Receipt?

You may recall the drama that played out in 2003 with regards to renewing certain provisions of the Fair Credit Reporting Act (FCRA). They were set to expire at the end of that year (if you don’t recall, trust me, folks in D.C. were losing sleep over this).

November 1, 2007

The Calculus of Adverse Action

You’ll notice that, from time to time, I’ll devote a column to those pesky adverse action notice requirements. For those of you who may be thinking that I do this because it’s all the law I know, let me assure you that I have other talents as well.

January 1, 2007

People Make Policies Work

People Make Policies Work

Conducting business ethically and honestly must be embraced by every employee for a compliance policy to be effective. When deviations occur, clear consequences should be upheld.

January 1, 2005

The Skinny on the FACT Act

The Skinny on the FACT Act

Although the feds are still determining how to enforce the FACT Act, it will certainly affect all businesses that deal with consumer credit information, including auto dealerships.

December 1, 2004

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