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Fair Credit Reporting Act

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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700Credit’s Hill to Discuss FCRA at Dealer Summit

Dealer Summit organizers have announced that Kenneth Hill, managing director of 700Credit, has agreed to speak at the 2016 event, which will be held May 3–5 at the Sheraton Tampa Riverwalk Hotel.

6 Tips for F&I Managers

To be an F&I professional, there are six things you need to stop (or start) doing, because whether you like it or not, you’re a role model.

FTC Fines Texas Dealer’s Financing Arm $82,000

The loan-servicing arm of Texas-based auto dealer Tricolor Auto Group will pay $82,777 in civil penalties as part of a settlement to address the FTC’s claims that it violated the Fair Credit Reporting Act’s Furnisher Rule.

CFPB Takes First Action Against BHPH Dealer

DriveTime Automotive Group was ordered to pay an $8 million penalty for making harassing debt collection calls and providing inaccurate credit information to credit reporting agencies.

Hudson Cook Partner Receives Lifetime Achievement Award

Anne P. Fortney, a partner in the firm’s Washington, D.C., office, was recognized by the American College of Consumer Financial Services Lawyers with the prestigious Senator William Proxmire Lifetime Achievement Award.

Certegy Settles With FTC for Fair Credit Act Violations

Certegy Check Services Inc. has agreed to pay $3.5 million to settle Federal Trade Commission charges that it violated the Fair Credit Reporting Act.

Spotting by the Book

The magazine’s legal wiz shares a textbook case on what not to do when spot delivering a vehicle.

Truncation Redux

The magazine’s legal columnist cites two recent cases to provide dealer guidance on the FCRA’s ‘truncation’ requirement.

Pulling the Trigger

Trigger leads can be an effective and relatively inexpensive way to bring in new customers. But like any other marketing tool, there are rules to follow and pros and cons to consider.