There are five key credit determinants that lending institutions take into consideration when making the decision to extend credit.
At a car dealership, everyone should be trained to recognize the signs of money laundering – and to understand the full context of a transaction.
A compliant credit application process is a pivotal part of the job. Do not let the process slip or a dealership could find themselves in some deep water.
We’re just beginning to see the story of data privacy and big tech play out, and it’s important to stay aware of how market and economic dynamics, shifts in consumer behavior, marketing trends, and technology advances can impact your dealership.
We all know identity theft is running rampant across the nation, making it even more important for dealers to do their due diligence when it comes to the digital delivery process.
Implementing pricing guidelines is not a guarantee that the regulators will stay away, but properly implemented and managed, it should provide a plausible defense of your F&I pricing practices.
As we enter a new administration, dealers will need to continue navigating new sales processes while also reverting their attention to risk management and government regulators. Let’s take a look at the likely highest risk areas and discuss a plan to mitigate them.
Check your office, social media, and appearance to make certain you don’t accidentally put up a barrier.
If you do not have a CMS and continuous monitoring in place now, today is a good day to start.
We all know that terminating an employee may lead to a charge of discrimination. But it can happen at the other end of the employment lifecycle, too – the hiring process.
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