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The vice president cast his tiebreaking vote late Tuesday night. The measure now heads to President Trump's desk, where it is likely to be signed. Once it does, not only will the CFPB's arbitration rule be invalidated, the bureau won't be allowed to issue a similar rule unless authorized to do so in a subsequent law.
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The National Consumer Law Center is calling on lawmakers and regulators to investigate how dealers price F&I protections, claiming that an analysis of approximately 1.8 million vehicle transactions revealed inconsistent and discriminatory price markups over a span of six years.
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One F&I insider says there’s more to the subprime pullback than the recent uptick in delinquencies. He says regulators are the real reason finance sources are so risk-averse.
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An electronic menu can do more than drive the F&I process. Compliance expert offers standards and practices you can use to unlock an emenu’s true potential.
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General Motors dealers who sell non-GM service contracts, parts and accessories must now disclose to their customers that the products are not backed by the automaker. Dealer trade groups believe the OEM’s stated goal of enhanced ‘safety and transparency’ is not the real reason for the new policy.
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Replacing Kulas, who was named CEO in July 2015 and president in February 2016, is Scott Powell, who will maintain his titles as CEO of Santander Holdings USA Inc. and as Santander Group's United States country head.
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General Motors dealers who sell non-GM service contracts, parts and accessories must now disclose to their customers that the products are not backed by the automaker. Dealers who don’t comply face possible termination of their franchise agreement.
Read More →Three days after the New York attorney general's office reached settlement with a dealer for tacking on etch after customers agreed to prices for vehicles and often without their knowledge, New Jersey Attorney General Christopher Porrino reached an agreement with Sansone Hyundai to settle similar charges.
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Continuing with his noble effort to define the edealership, the magazine’s resident compliance pro explains why the desking process is ripe for digitization.
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Legal experts break down the Consumer Financial Protection Bureau’s new arbitration rule and how it could affect your dealership.
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