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Automotive Compliance Education

California: An Unlikely Compliance Model

I propose that your F&I and sales disclosure compliance models mirror the sales and F&I processes at dealerships in California — what is required by statute in California, should be considered best practices in the other 49 states.

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Why Comply?

We live in an ‘Age of Compliance Awareness’ and someone is always watching. We should care about what they see.

When Should I File FinCEN 8300?

Knowing when to file FinCEN 83011 is serious stuff that could subject the dealership to significant fines after an audit. A little bit of training upfront could avoid some pain later.

Reigning in Franken-agency

On June 29, the United States Supreme Court ruled that the structure of the Consumer Financial Protection Bureau was unconstitutional. A compliance expert shares why this matters, and why it matters to dealers in particular.

The FTC Suggests We Buckle Up

The FTC recently issued a report that summarizes its enforcement actions, roundtable findings, consumer workshops, and in-person interviews with 38 Washington D.C. metro-area consumers focused on deceptive advertising practices, spot-delivery, and voluntary protection products.

But … the System is Down

Most dealers rely on one or more software providers to manage and document all their transactions and many businesses count on a robust disaster recovery plan in the event their IT infrastructure fails.

OFAC is Required, Not Recommended

Checking OFAC is not a recommendation – it is required by federal statute. Not taking it seriously could result in major consequences for the dealer.

Lessons From the Lockdown

Where we had previously been moving at a sloth pace to digitize the entire buying process, the auto industry is accelerating many processes in response to COVID-19.

Lessons From an I-Team Investigation

A dealership was recently discovered to have a prevalent policy and practice of inflating consumers’ incomes to obtain finance source approvals. Reading between the lines of the story, there are a variety of lessons to be learned.

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Dealership Uncovers Payment Packing Scheme

Following a few simple recommendations puts a dealership one step closer to a solid, defensible compliance strategy.