Unloading the Fair Credit Program
Compliance expert examines the Fair Credit Program and its influence on dealers.
April 14, 2022
Compliance expert examines the Fair Credit Program and its influence on dealers.
April 14, 2022
A dealership sold and financed a vehicle to an identity thief, even after seven red flags were identified. Truly managing the process means vetting and clearing any red flags before delivering the vehicle.
October 7, 2021
If you do not have a CMS and continuous monitoring in place now, today is a good day to start.
April 6, 2021
We should call it transaction compliance, rather than F&I compliance.
March 17, 2020
Compliance expert lists four shortcuts no sales or F&I professional should take in 2020. Spoiler alert: Forging the customer’s signature is still a federal crime.
February 27, 2020
Entrepreneurial salespeople are the rock stars of auto retail, but if their side hustle is a credit repair organization, they are creating a major liability for the dealership.
December 5, 2019
For all the dispersions cast on sales and F&I professionals, legal actions against dealerships are frequently the result of lying customers.
November 11, 2019
The shady practices dealers and F&I professionals once bragged about are now landing many in jail. Compliance expert lists three forms of fraud you can eradicate immediately.
October 3, 2019
Synthetic identity theft is wreaking havoc among American retailers. Compliance guru offers a buyback prevention checklist for dealers and F&I professionals.
September 10, 2019
A dealership’s Red Flags process is a clear indicator of how its overall compliance quotient stacks up against stores that never let a notification go by.
August 12, 2019
When sales managers habitually ignore Red Flags warnings, your customers’ identities and the dealer’s wallet are both left vulnerable. Here’s how to break the habit.
July 9, 2019
Expert lists four all-too-common situations in which failing to understand underwriting guidelines or falsifying required stips — by dealership or finance source personnel — can constitute not just noncompliance but outright fraud.
June 13, 2019
Despite improved industry education and a slew of regulatory enforcement actions, packing payments remains a popular pursuit at dealerships around the nation. Here’s how to prevent this highly illegal practice before it starts.
May 21, 2019
Compliance guru has the processes and auditing outline you need to avoid issues that begin in sales and at the desk, starting with discriminatory pricing.
April 23, 2019
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