Kicking the trade is an old-school tactic employed by unscrupulous sales people, sales managers, and F&I managers. Being aggressive and going after every possible deal, while employing a deceptive practice to finalize the sale is simply not worth the risk.
We should call it transaction compliance, rather than F&I compliance.
The F&I industry continues to be plagued by malfeasance at the retail level. Attorney and compliance expert gets P&A executives up to speed.
Agents can and should help dealers design, install, and enforce their federally mandated CMS. Luckily for everyone involved, the instructions are freely available.
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.
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.
This year’s Industry Summit will be held Nov. 4–6 at the New Orleans Marriott, offering the nation’s premier advanced F&I training curriculum, new and returning tracks and events, and free admission for the first 100 dealers and general managers who sign up when registration opens this summer.
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.
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?
Compliance firms gvo3 & Associates (gvo3) and Dealer Safeguard Solutions (DSGSS) have teamed up on a comprehensive front-end compliance platform that incorporates education, certification, execution, inspection and remediation.
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