Confront the Growing Threat of Synthetic ID Fraud
Synthetic identity fraud is incredibly costly and difficult to detect. Expert explains why your dealership is at risk and why a multilayered defense works best.
January 22, 2020
Synthetic identity fraud is incredibly costly and difficult to detect. Expert explains why your dealership is at risk and why a multilayered defense works best.
January 22, 2020
A Florida Highway Patrol investigation led to the arrests of husband and wife dealers accused of submitting at least 35 phantom RISCs for purchase by an auto finance company.
December 23, 2019
The U.S. Department of Justice has charged a Maryland dealership with offering different credit terms to different customers based on race, an allegation backed by reports from African American and white testers.
October 2, 2019
Mark E. Rooney, an attorney whose practice focuses on consumer litigation defense and government investigations in the financial services industry, has joined the Washington, D.C., office of Hudson Cook LLP.
September 9, 2019
National Automobile Dealers Association officials have told the FTC that proposed new provisions to the Safeguards Rule may be unnecessary and could cost smaller dealers more than $400,000 in the first calendar year of enforcement.
September 9, 2019
Six operators of a nonexistent auto finance company have been sentenced to federal prison or probation for fraudulently obtaining $1.7 million worth of loans from banks and credit unions.
August 22, 2019
Hoover Mitsubishi’s Mark Hoover has sued two former employees accused of doctoring auto loan applications, a scheme that led to an FBI raid and the shuttering of the dealership.
August 21, 2019
Experian’s Ascend platform now includes a loan portfolio modeling tool built in collaboration with Oliver Wyman and designed to help finance sources comply with new current expected credit loss standards.
August 7, 2019
The U.S. Department of Justice announced Nissan Motor Acceptance will pay $3 million to settle charges that it unlawfully repossessed 113 vehicles belonging to active military members.
August 7, 2019
A 2016 cyberattack laid bare the personally identifiable information of about 12.5 million customers of 130 U.S. dealerships, according to a Federal Trade Commission bulletin announcing a consent agreement with dealer software provider DealerBuilt.
June 13, 2019
To become an F&I manager at this Carlsbad, Calif.-based Buick-GMC-Cadillac store, candidates must complete an eight-week course addressing a number of topics related to ethics and compliance. The dealership is in the running for the magazine's F&I Dealer of the Year award.
October 8, 2018
Dealer Steve Johnson knows how quickly word spreads when you operate in a small town. That’s why reputation means more than profitability at his Zumbrota, Minn.-based Ford store. It's in the running for the magazine's F&I Dealer of the Year.
October 8, 2018
Attendees of the upcoming Industry Summit and P&A Leadership Summit are invited to register for Automotive Compliance Education’s onsite certification review and exam for no additional charge.
September 27, 2018
The operators of websites that sold fake pay stubs and other financial documents have agreed to permanently shut down their business as part of separate settlements with the Federal Trade Commission, the regulator announced this week.
September 19, 2018
According to the U.S. Attorney’s Office, Hallman Chevrolet falsified loan documents as well as costume jewelry brought in by customers as collateral for purported down payments over a six-year period beginning in 2009. The dealer, David Hallman, accepted responsibility for the scheme and agreed to pay a $1.4 million fine and more than $737,000 in restitution to end federal prosecution.
September 6, 2018
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