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Adverse Action Notice

The Right Approach to Adverse Action Notices

Compliance expert gets into the weeds on adverse actions. He explains why you must send a notice to every affected customer, and breaks down your choice of processes.

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Hanging in the Balance

The compliance gurus at F&I Think Tank agreed that a lot is riding on the outcome of November’s presidential elections — including the fate of the F&I department.

How Dare You!

Issuing adverse action notices for every deal can result in righteous indignation from prime-credit customers. AFIP chief offers a primer on when to send notices and when to keep them to yourself.

700Credit Updates Dodd-Frank Compliance Solutions

700Credit has released an updated Adverse Action Notice template designed to keep dealerships in compliance with the Dodd-Frank Act.

ADP Launches Deal Review Compliance Tool

The Dealer Services Group of Automatic Data Processing Inc. has launched Deal Review, a new tool that will help dealerships track, monitor and report on their deal compliance efforts.

Time to Uphold Our Job Requirement

The verdict on the impact of the Fed's new rule is still out, but its requirements might just be what the doctor ordered for our business.

FTC and Federal Reserve Issue Risk-Based Pricing Rules

In what is expected to have a big impact on the special-finance marketplace, the Federal Trade Commission (FTC) and the Federal Reserve Board (FRB) issued in late December finalized rules that will require creditors, including dealers, to alert consumers when derogatory credit data causes them to receive less than optimal terms. The rule is expected to take effect Jan. 1, 2011.

Tackling Adverse Action Notices

Knowing what triggers an adverse action notice can definitely be baffling, but so can the rules governing content and timing. Legal expert weighs in with part II of PSFI’s series on adverse action notices.

Automotive Compliance Consultants Offers Compliance and Auditing Solution

Automotive Compliance Consultants Inc. (ACC) has partnered with automotive software provider Stone Meta Inc. to provide an online compliance training and auditing solution called Compliance Solved.

Part II: Tackling Adverse Action Notices

Knowing what triggers an adverse action notice can definitely be baffling, but so can the rules governing content and timing. Legal expert weighs in with part II of F&I's series on adverse action notices.