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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
Compliance guru urges dealer and F&I directors to take a hard look at the desk, where outdated practices and untamed pencils can lead to charges of discrimination.
March 22, 2019
Why is it called ‘F&I compliance’ when most concerns arise in the showroom? Expert lists three common issues created by uninformed or undisciplined salespeople and sales managers.
February 26, 2019
Are you putting your full compliance team on the field? Expert urges every manager and staff member to do their part to prevent the dealership from committing costly penalties.
January 10, 2019
Dealer-lender agreements and federal regulators all have something to say on the subject of income inflation, and ignoring those guidelines can create a compliance nightmare.
December 21, 2018
There is a palpable sense of relief among dealers at the end of the CFPB era, but the FTC, DOJ, and state attorneys general are actively taking up the once-feared bureau’s cause.
November 13, 2018
The magazine’s resident compliance pro weighs in on one of F&I’s big debates: Is the F&I menu a sales or compliance tool?
September 6, 2018