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The New York City Department of Consumer Affairs announced a new car loan initiative this month, which would direct subprime car buyers away from dealership financing to loans provided directly by banks and credit unions.
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Jackson Bigham has been named chief compliance officer of SMART Payment Plan. In that role, he will be responsible for managing SMART’s state and federal regulatory compliance and regulatory reporting.
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BMW of North America has agreed to settle FTC charges that its MINI Division violated the Magnuson-Moss Warranty Act by telling consumers that BMW would void their warranty unless they used MINI parts and MINI dealers to perform maintenance and repair work.
Read More →The owner of a dealership in New York pled guilty last week to five felony charges and will serve up to one year in jail for failing to file sales tax and personal income tax returns.
Read More →The FBI is offering $20,000 for the arrest of a New Jersey dealer who has reportedly fled the country after more than 75 people filed complaints against him.
Read More →The next Compliance Summit event is set to be held April 20–21, 2015, in Illinois. The full day of educational sessions is open to automotive industry professionals involved in front-end compliance.
Read More →The Federal Reserve has objected to Santander Holdings USA’s capital plans due to widespread deficiencies in governance, internal controls, risk identification and management, as well as other key areas.
Read More →Charges were filed against the owner and an employee of F&R Auto Sales after a customer claimed they threatened her. The dealership first made headlines in January when a video of its employees harassing a pizza delivery man went viral.
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GSFSGroup has selected Lewis Kuhl as its senior counsel and director of regulatory compliance. Kuhl will be responsible for ensuring that F&I products and the company’s clients are in in compliance with state laws.
Read More →Alabama Attorney General Luther Strange was granted a temporary restraining order against the owners of a used-car dealership, as well as permission to seize the dealer’s property.
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