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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

700Credit’s Hill to Discuss FCRA at Dealer Summit

Dealer Summit organizers have announced that Kenneth Hill, managing director of 700Credit, has agreed to speak at the 2016 event, which will be held May 3–5 at the Sheraton Tampa Riverwalk Hotel.

January 27, 2016

FTC Fines Texas Dealer’s Financing Arm $82,000

The loan-servicing arm of Texas-based auto dealer Tricolor Auto Group will pay $82,777 in civil penalties as part of a settlement to address the FTC’s claims that it violated the Fair Credit Reporting Act’s Furnisher Rule.

September 17, 2015

CFPB Takes First Action Against BHPH Dealer

DriveTime Automotive Group was ordered to pay an $8 million penalty for making harassing debt collection calls and providing inaccurate credit information to credit reporting agencies.

November 19, 2014

Hudson Cook Partner Receives Lifetime Achievement Award

Anne P. Fortney, a partner in the firm’s Washington, D.C., office, was recognized by the American College of Consumer Financial Services Lawyers with the prestigious Senator William Proxmire Lifetime Achievement Award.

May 13, 2014

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

AAS Launches Multistate Audit Program

Auto Advisory Services (AAS) launches today a new Multistate Audit Program by conducting its first compliance audits of automobile dealerships in New York and New Jersey.

October 1, 2009

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

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