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A judge in Maryland dismissed a lawsuit against the Pohanka Auto Group. It alleged that the group’s GAP coverage was “phony” because it did not meet the definition of a debt-cancellation agreement under Maryland law.
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Compliance pros lay out a plan for keeping regulators at bay. If followed, the four-step plan may also help with a dealership’s customer-retention efforts.
Read More →The CFPB has proposed a new rule to oversee larger nonbank auto finance companies for the first time at the federal level. The compliance firm suggests that this could significantly affect compensation policies in dealerships.
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Following an announcement that it would seek supervisory authority over 38 nonbank auto finance companies, the CFPB held a field hearing on the topic in Indiana this morning.
Read More →The CFPB announced this week a proposed rule that would allow it to oversee about 38 nonbank auto finance companies. The bureau also plans to release a new whitepaper which details the methodology it uses to determine the presence of discrimination in auto lending.
Read More →The owner of a Virginia dealership was arrested after authorities discovered that he was selling fake tags that would allow drivers to delay properly registering their vehicle.
Read More →A dealer who acquired clean titles for flood-damaged cars he bought at auction faces up to three years in prison. He must also reimburse the customers who purchased the seven vehicles.
Read More →US Equity Advantage has transmitted more than $1.3 billion in loan payments for its members, while maintaining compliance with the money transmitter requirements related to licensing and bonding in all 50 states.
Read More →Asking customers to divulge sensitive information about themselves can sometimes lead to a polarizing exchange between the F&I manager and customer. The magazine’s compliance insider offers a few ways to put customers at ease.
Read More →The city’s Consumer Affairs Department is warning dealers it will issue violations or revoke their licenses to operate if they do not notify consumers who purchased vehicle with unrepaired recall issues.
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