Last week, the United States Court of Appeals for the Second Circuit upheld a lower-court ruling that the sale and use of trigger leads is allowed under the terms of the Fair Credit Reporting Act (FCRA).
Auto Advisory Services (AAS) launches today a new Multistate Audit Program by conducting its first compliance audits of automobile dealerships in New York and New Jersey.
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.
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.
Compliance expert explains what situations require dealers to send adverse action notices to consumers.
Learn how your dealership can handle adverse action notices, which are required by the Equal Credit Opportunity Act and the Fair Credit Reporting Act.
Dealers will need to know how to react when a red flag is raised, and will have to document each situation.
Dealers have been contracting for years with marketing companies that use so-called prescreen lists to offer auto financing to qualified consumers. The Fair Credit Reporting Act (FCRA) requires that each person on such a list receive a “firm offer of credit”.
I’ve mentioned the Fair and Accurate Credit Transaction Act of 2003 (FACTA) several times in this column. You’ll recall that FACTA made significant amendments to the Fair Credit Reporting Act (FCRA), many in ways one may not have expected.
You may recall the drama that played out in 2003 with regards to renewing certain provisions of the Fair Credit Reporting Act (FCRA). They were set to expire at the end of that year (if you don’t recall, trust me, folks in D.C. were losing sleep over this).
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