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Today’s vote leaves it up to the House of Representatives to pass its version of the joint resolution of disapproval. Once that happens, only the president’s signature stands in the way of the industry’s more than five-year campaign to get the CFPB’s controversial guidance repealed.
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Asbury Automotive executives were confident that the dealer group’s internal caps on dealer markup and its fixed F&I product prices will keep it safe from any actions by regulators.
Read More →BB&T Bank’s dealer finance arm announced today that it is switching to a flat fee compensation model that eliminates dealer markups on retail installment sales contracts, effective July 1.
Read More →The moves come just weeks after the CFPB proposed to oversee larger nonbank auto finance sources for the first time at the federal level.
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Far too many compensation plans are a patchwork of fixes that, in the end, make the plans more confusing and less impactful. The magazine’s F&I expert has the answer, a plan that accounts for a new market dynamic.
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