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CFPB Director Richard Cordray fielded questions about dealer compliance programs and a recent study calling out the bureau’s methods for determining discrimination during a semi-annual report to Congress earlier this month.
Read More →In a report released this week, the regulator revealed that 75% of consumers did not know whether they were subject to an arbitration clause in their agreements with their financial service providers. The study covered six different consumer finance markets, including auto loans.
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Auto finance sources reveal that they, too, are focused on the customer experience, and say they are ready for what’s expected to be another great year for auto sales.
Read More →The magazine’s resident legal expert offers her take on why state and federal regulators were so active in auto finance at the close of 2014.
Read More →Consumer Portfolio Services CEO Charles Bradley laid out the lender’s compliance efforts during a quarterly earnings call last week. The finance source’s subprime lending activities are currently being investigated by Department of Justice.
Read More →A coalition of five trade groups representing the nation’s largest auto finance sources urged the CFPB to review and respond publicly to a study that questions its methodology for measuring disparities in dealer reserve.
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The current regulatory environment demands that dealers take a good hard look at their processes and policies. F&I pro offers some recommendations.
Read More →The AFIP’s executive director says it’s possible to have the best of all F&I worlds. He details a plan for satisfying customers, increasing revenues and avoiding regulatory hassles.
Read More →The magazine’s resident legal wiz dusts off his crystal ball and offers his regulatory forecast for the coming year.
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Larry Dorfman founded APCO/EasyCare on the premise that car buyers are his true customers. Now he and his team are riding shotgun on Sonic Automotive’s drive toward a new customer experience.
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