Darwin today announced a new update to its F&I sales platform designed to address the interpretive rule the Defense Department issued last month under the MLA.
Based on an interpretive rule issued by the Defense Department on Dec. 14, including credit-protection products like GAP in a servicemember’s vehicle finance contract could subject it to a slew of restrictions and requirements under the Military Lending Act (MLA).
Industry Summit’s executive panel convened to discuss and debate the effects of Hurricane Harvey, the status of the used-car and subprime markets, the GM mandate, and the digitization of the F&I process.
When F&I Dealer of the Year Mike Dunnahoo arrived in Abilene, Texas, 18 years ago, he didn’t just take over a dealership, he adopted a community.
The finance source’s new policy took effect days before new allegations surfaced that Wells Fargo failed to deliver GAP refunds to borrowers. It states that Ally — not dealers — will directly refund the unearned portion of GAP waivers and insurance to borrowers within 45 days of the paid-in-full date.
Wells Fargo has once again found itself under regulatory scrutiny following an internal review and external inquiry that may have uncovered funds owed to car buyers who purchased GAP and paid their loans off early.
F&I Express’ Brian Reed will lead a presentation designed to establish improved lines of communication between leading executives in the auto finance and F&I product provider segments.
The Guaranteed Asset Protection Alliance, a lobbying group made up of GAP providers, administrators and finance sources, was instrumental in getting two of the three laws passed — the most recent state to adopt its model act being Maine.
The magazine’s legal wiz reminds dealers and F&I pros why it’s wise to assume every customer knows the bad compliance practices you should have outlawed years ago.
After a little birdwatching with Mrs. Marv, His Madness is reminded of the critical role F&I managers play in the development of showroom salespeople.
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