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Louisiana Dealers Do Business Face-to-Face

Louisiana Dealers Do Business Face-to-Face

Louisiana Automobile Dealers Association President Will Green believes the dealers in his state succeed by putting their customers and communities first and maximizing production — and emphasizing compliance — in the F&I department.

November 9, 2019

Wells Fargo Faces $1 Billion Fine for Mortgage and Auto Insurance Issues
Military Lending Act's December Update More Harmful Than First Thought

Military Lending Act's December Update More Harmful Than First Thought

A Hudson Cook attorney told industry trade groups in a Jan. 18 memo that the Defense Department’s Dec. 14 interpretative rule, combined with something else it did in July 2015, makes it ‘highly unlikely that any dealer or finance source will be willing to originate or purchase’ a vehicle finance transaction if credit-protection products are included.

February 22, 2018

Darwin Updates F&I Platform to Address Military Lending Act Rules
Perfect Storm

Perfect Storm

Industry Summit’s executive panel convened to discuss and debate the effects of Hurricane Harvey, the status of the used-car and subprime markets, the GM mandate, and the digitization of the F&I process.

December 4, 2017

Ally Takes Control of GAP Refunds

Ally Takes Control of GAP Refunds

The finance source’s new policy took effect days before new allegations surfaced that Wells Fargo failed to deliver GAP refunds to borrowers. It states that Ally — not dealers — will directly refund the unearned portion of GAP waivers and insurance to borrowers within 45 days of the paid-in-full date.

October 11, 2017

Mind the GAP: Wells Fargo Faces New Charges

Mind the GAP: Wells Fargo Faces New Charges

Wells Fargo has once again found itself under regulatory scrutiny following an internal review and external inquiry that may have uncovered funds owed to car buyers who purchased GAP and paid their loans off early.

August 8, 2017

Three States Pass GAP Laws

Three States Pass GAP Laws

The Guaranteed Asset Protection Alliance, a lobbying group made up of GAP providers, administrators and finance sources, was instrumental in getting two of the three laws passed — the most recent state to adopt its model act being Maine.

July 13, 2017

A Wolf In Sheep’s Clothing

The magazine’s legal wiz reminds dealers and F&I pros why it’s wise to assume every customer knows the bad compliance practices you should have outlawed years ago.

July 7, 2017

CFPB Accuses 'One or More' Finance Sources of Deceptive GAP Ads, Payment Deferral Offers

Turks and Caicos Regulator Engages Reinsurance Industry

The Turks and Caicos Islands Financial Services Commission met last week with 20 leading reinsurance experts to elicit their views on proposed improvements to the islands’ regulatory regime and to explore how TCI may remain the domicile of choice of producer affiliated reinsurance companies.

May 31, 2016

U.S. Judge Allows Woman's Discrimination Claims Against Santander to Proceed