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Categories: Compliance, Dealer Ops, F&I, Showroom
Top 10 Fraud Stories of 2019

A number of U.S. auto dealers and dealership sales and F&I personnel were the victims or alleged perpetrators in several major fraud cases this year.

https://www.fi-magazine.com/359842/top-10-fraud-stories-of-2019
Categories: Compliance, F&I, Training
Report: Inconsistent F&I Training Puts Dealerships at Risk

A recent KPA survey found high numbers of F&I professionals untrained in key federal compliance topics and unsure of how far their compliance education had...

https://www.agent-entrepreneur.com/359748/report-inconsistent-fi-training-puts-dealerships-at-risk
Categories: Compliance, F&I, Training
Report: Inconsistent F&I Training Puts Dealerships at Risk

A recent KPA survey found high numbers of F&I professionals untrained in key federal compliance topics and unsure of how far their compliance education had...

https://www.autodealertodaymagazine.com/359748/report-inconsistent-fi-training-puts-dealerships-at-risk
Categories: Compliance, Dealer Ops, Digital, F&I, Showroom
Louisiana Dealers Do Business Face-to-Face

Louisiana Automobile Dealers Association President Will Green believes the dealers in his state succeed by putting their customers and communities first and...

https://www.fi-magazine.com/359423/louisiana-dealers-do-business-face-to-face
Categories: Auto Finance, Compliance, Dealer Ops, F&I, Training
DOJ Mystery-Shopped Md. Dealership Before Suing for Racial Bias

The U.S. Department of Justice has charged a Maryland dealership with offering different credit terms to different customers based on race, an allegation...

https://www.autodealertodaymagazine.com/358836/doj-mystery-shopped-md-dealership-before-suing-for-racial-bias
Categories: Compliance, Dealer Ops, F&I
Calif. AG Sues Blanco for Bank Fraud, False Advertising

The office of California Attorney General Xavier Becerra has charged the 10-rooftop Paul Blanco’s Good Car Co. with credit application fraud, payment...

https://www.fi-magazine.com/358768/calif-ag-sues-blanco-for-bank-fraud-false-advertising
Categories: Compliance, Dealer Ops, F&I
Feds: NIADA’s Gabler, F&I Manager Indicted for Fraud

Former National Independent Automobile Dealers Association leader Andy Gabler and Chad Bednarski, a finance manager at his Pennsylvania dealerships, were...

https://www.fi-magazine.com/357906/feds-niadas-gabler-fi-manager-indicted-for-fraud
Categories: Compliance, F&I, Training
Study: Dealer Data Plagued by Human Error, Insider Threats, Deliberate Sabotage

Shred-it’s 2019 Data Protection Report reveals the owners of more than half of all large U.S. businesses that suffered a breach said external vendor errors...

https://www.fi-magazine.com/357197/study-dealer-data-plagued-by-human-error-insider-threats-deliberate-sabotage
Categories: Compliance, F&I, Product & Technology
Sagent Adds Experian’s Precise ID to Auto LOS

Sagent Lending Technologies announced an enhancement of its identity-management and fraud-detection capabilities credited to a new collaboration with Experian.

https://www.autodealertodaymagazine.com/357085/sagent-adds-experians-precise-id-to-auto-los
Categories: Compliance, F&I, Product & Technology
Sagent Adds Experian’s Precise ID to Auto LOS

Sagent Lending Technologies announced an enhancement of its identity-management and fraud-detection capabilities credited to a new collaboration with Experian.

https://www.agent-entrepreneur.com/357085/sagent-adds-experians-precise-id-to-auto-los
Categories: Dealer Ops, F&I, Industry
Brown & Brown Acquires UDS

Brown & Brown Inc. has acquired the assets of United Development Systems Inc., the F&I performance and compliance management provider founded by Randy...

https://www.autodealertodaymagazine.com/356815/brown-brown-acquires-uds
Categories: Dealer Ops, F&I, Industry
Brown & Brown Acquires UDS

Brown & Brown Inc. has acquired the assets of United Development Systems Inc., the F&I performance and compliance management provider founded by Randy...

http://www.providers-administrators.com/356815/brown-brown-acquires-uds
Categories: Dealer Ops, F&I, Industry
Brown & Brown Acquires UDS

Brown & Brown Inc. has acquired the assets of United Development Systems Inc., the F&I performance and compliance management provider founded by Randy...

https://www.agent-entrepreneur.com/356815/brown-brown-acquires-uds
Categories: Compliance, Dealer Ops, F&I, Industry, Showroom, Training
Save the Date: Industry Summit Heads to New Orleans

This year’s Industry Summit will be held Nov. 4–6 at the New Orleans Marriott, offering the nation’s premier advanced F&I training curriculum, new and...

https://www.autodealertodaymagazine.com/356709/save-the-date-industry-summit-heads-to-new-orleans
Categories: Compliance, Dealer Ops, F&I, Industry, Showroom, Training
Save the Date: Industry Summit Heads to New Orleans

This year’s Industry Summit will be held Nov. 4–6 at the New Orleans Marriott, offering the nation’s premier advanced F&I training curriculum, new and...

http://www.providers-administrators.com/356709/save-the-date-industry-summit-heads-to-new-orleans
Categories: Compliance, Dealer Ops, F&I, Industry, Showroom, Training
Save the Date: Industry Summit Heads to New Orleans

This year’s Industry Summit will be held Nov. 4–6 at the New Orleans Marriott, offering the nation’s premier advanced F&I training curriculum, new and...

https://www.agent-entrepreneur.com/356709/save-the-date-industry-summit-heads-to-new-orleans
Categories: Auto Finance, Compliance, Dealer Ops, F&I
RSVP for ACE Certification at Industry Summit

Attendees of the upcoming Industry Summit and P&A Leadership Summit are invited to register for Automotive Compliance Education’s onsite certification...

https://www.autodealertodaymagazine.com/350988/rsvp-for-ace-certification-at-industry-summit
Categories: Auto Finance, Compliance, Dealer Ops, F&I
FTC Shuts Down Websites Offering Fake Pay Stubs for Sale

The operators of websites that sold fake pay stubs and other financial documents have agreed to permanently shut down their business as part of separate...

https://www.autodealertodaymagazine.com/351007/ftc-shuts-down-websites-offering-fake-pay-stubs-for-sale
Categories: Auto Finance, Compliance, Dealer Ops, F&I
Pa. Dealer Agrees to Pay $2.1 Million to End Prosecution Into Bank Fraud

According to the U.S. Attorney’s Office, Hallman Chevrolet falsified loan documents as well as costume jewelry brought in by customers as collateral for...

https://www.autodealertodaymagazine.com/351032/pa-dealer-agrees-to-pay-2-1-million-to-end-prosecution-into-bank-fraud
Categories: Auto Finance, Compliance, Dealer Ops, F&I
AG Coalition: CFPB Has 'No Authority to Overrule' High Court’s ECOA Interpretation

A coalition of 14 attorneys general warned CFPB Acting Director Mick Mulvaney against taking any action to reinterpret ECOA as not providing for disparate...

https://www.autodealertodaymagazine.com/351037/ag-coalition-cfpb-has-no-authority-to-overrule-high-courts-ecoa-interpretation
Categories: Dealer Ops, F&I
Calif. Board: GM Violated State Law in Attempting to Cancel Dealer's Franchise

In an Aug. 13 ruling, the California New Motor Vehicle Board sided with Folsom Chevrolet in a case that calls into question the way General Motors and other...

https://www.autodealertodaymagazine.com/351052/calif-board-gm-violated-state-law-in-attempting-to-cancel-dealers-franchise
Categories: Auto Finance, Compliance, Dealer Ops, F&I
Senate Committee Narrowly Confirms Trump's Pick to Head BCFP

The U.S. Senate Banking Committee narrowly approved the nomination of Kathy Kraninger to head the Bureau of Consumer Financial Protection. The vote sends...

https://www.autodealertodaymagazine.com/351059/senate-committee-narrowly-confirms-trumps-pick-to-head-bcfp
Categories: Auto Finance, Compliance, Dealer Ops, F&I
FTC Charges Arizona Group With Falsifying Incomes on Consumer Credit Apps

According to the regulator, this was the FTC’s first action alleging income falsification by dealerships. Charged are the owners of Tate’s Auto Group, which...

https://www.autodealertodaymagazine.com/351106/ftc-charges-arizona-group-with-falsifying-incomes-on-consumer-credit-apps
Categories: Auto Finance, Compliance, Dealer Ops, F&I
Wells Fargo to Begin Growing Auto Loan Portfolio by Mid-2019

Wells Fargo's continued runoff of its auto loan portfolio resulted in a $10.3 billion year-over-year decline in auto loan balances in the second quarter,...

https://www.autodealertodaymagazine.com/324084/wells-fargo-to-begin-growing-auto-loan-portfolio-by-mid-2019
Categories: Auto Finance, Compliance, Dealer Ops, Digital, F&I, Showroom, Training
Industry Summit Panel to Examine Industry’s Digital Transformation

Industry Summit’s annual ‘From the Boardroom’ session will feature executives from F&I product providers and software firms, who will tackle the big...

https://www.autodealertodaymagazine.com/324070/industry-summit-panel-to-examine-industrys-digital-transformation
Categories: Compliance, Dealer Ops, F&I, Showroom, Training
FTC, 12 Partner Agencies Conduct Used Car Rule Compliance Sweep

The compliance sweep, which took place in seven states, is the first since the agency's new Used Car Rule took effect earlier this year. Dealers who failed...

https://www.autodealertodaymagazine.com/324056/ftc-12-partner-agencies-conduct-used-car-rule-compliance-sweep
Categories: Auto Finance, Compliance, Dealer Ops, F&I

The acquisition of the F&I audit services firm enables KPA to become a single source for automotive compliance. The transaction closed on May 31.

https://www.autodealertodaymagazine.com/324034/kpa-acquires-auto-advisory-services-inc
Categories: Auto Finance, Compliance, Dealer Ops, F&I
EFG Companies: Dealers Must Embrace Industry Paradigm Shift

EFG Companies CEO John Pappanastos said digital buying habits, millennial and Gen Z consumers, and women are forcing industry change dealers must embrace.

https://www.autodealertodaymagazine.com/324001/efg-companies-dealers-must-embrace-industry-paradigm-shift
Categories: Auto Finance, Compliance, Dealer Ops, F&I
Webinar: Gil Van Over to Tackle Compliance Issues on the Road to the Sale

Compliance expert Gil Van Over will deliver Part Two of F&I and Showroom’s compliance webinar series, “CFPB Defanged: Rise of the eDealership.” The webinar...

https://www.autodealertodaymagazine.com/323977/webinar-gil-van-over-to-tackle-compliance-issues-on-the-road-to-the-sale
Categories: Auto Finance, Compliance, Dealer Ops, F&I

The president’s signature comes exactly five years and two months after the bureau put the auto finance industry on notice with its controversial guidance...

https://www.autodealertodaymagazine.com/323939/trump-signs-repeal-of-cfpbs-dealer-participation-guidance
Categories: Auto Finance, Compliance, Dealer Ops, F&I
Webinar: Who Will Take Up the CFPB's Torch?

On June 6, Hudson Cook LLP attorney and partner Eric Johnson will join F&I and Showroom’s Gregory Arroyo for Part 1 of the magazine’s compliance webinar...

https://www.autodealertodaymagazine.com/323929/webinar-who-will-take-up-the-cfpbs-torch
Categories: Auto Finance, Compliance, Dealer Ops, F&I

As expected, the House approved the resolution of disapproval of the CFPB's guidance on dealer participation. With the Senate having voted on the resolution...

https://www.autodealertodaymagazine.com/323920/house-approves-resolution-to-repeal-cfpbs-dealer-participation-guidance
Categories: Auto Finance, Compliance, Dealer Ops, F&I, Showroom, Training
NIADA: Cost of Doing Business Up, Finance Availability Down

The association’s first quarter business confidence survey reveals subdued expectations for sales and economic growth among independent dealers. One factor...

https://www.autodealertodaymagazine.com/323918/niada-cost-of-doing-business-up-finance-availability-down
Categories: Auto Finance, Compliance, Dealer Ops, F&I
U.S. Senate Approves Resolution to Repeal CFPB’s Dealer Participation Guidance

Today’s vote leaves it up to the House of Representatives to pass its version of the joint resolution of disapproval. Once that happens, only the...

https://www.autodealertodaymagazine.com/323874/u-s-senate-approves-resolution-to-repeal-cfpbs-dealer-participation-guidance
Categories: Auto Finance, Compliance, Dealer Ops, F&I
Wells Fargo Faces $1 Billion Fine for Mortgage and Auto Insurance Issues

Wells Fargo’s first-quarter earnings call was staged amid a string of regulatory concerns, declining auto originations, and the sale of a Puerto Rican...

https://www.autodealertodaymagazine.com/323869/wells-fargo-faces-1-billion-fine-for-mortgage-and-auto-insurance-issues
Categories: Auto Finance, Compliance, Dealer Ops, F&I
Reuters: U.S. Senate Panel Plans to Scrap CFPB’s Dealer Participation Guidance

U.S. Senate Banking Committee Republican Pat Toomey said on Tuesday the panel plans to scrap the CFPB’s guidance on dealer participation and leverage lending.

https://www.autodealertodaymagazine.com/323854/reuters-u-s-senate-panel-plans-to-scrap-cfpbs-dealer-participation-guidance
Categories: Auto Finance, Compliance, Dealer Ops, F&I

According to a report in The Wall Street Journal, the review of GAP refunds the bank initiated last year has expanded to other F&I products and services.

https://www.autodealertodaymagazine.com/323851/wells-fargo-reviewing-fi-products-as-regulatory-pressure-builds
Categories: Auto Finance, Dealer Ops, Digital, F&I
Hendrick to Install Reynolds docuPAD in All 96 Locations

When installations are completed in mid-July, Hendrick Automotive Group will be the largest single user of Reynolds’ docuPAD system in the United States.

https://www.autodealertodaymagazine.com/323835/hendrick-to-install-reynolds-docupad-in-all-96-locations
Categories: Auto Finance, Compliance, Dealer Ops, F&I
Auto Lands at No. 2 on N.Y. Attorney General’s Complaint List

The regulator who has championed New York’s crackdown on payment packing released his office’s Top 10 list of complaints received in 2017. Auto was 1,965...

https://www.autodealertodaymagazine.com/323764/auto-lands-at-no-2-on-n-y-attorney-generals-complaint-list
Categories: Auto Finance, Compliance, Dealer Ops, F&I
Military Lending Act's December Update More Harmful Than First Thought

A Hudson Cook attorney told industry trade groups in a Jan. 18 memo that the Defense Department’s Dec. 14 interpretative rule, combined with something else...

https://www.autodealertodaymagazine.com/323734/military-lending-acts-december-update-more-harmful-than-first-thought
Categories: Auto Finance, Compliance, Dealer Ops, F&I
BB&T Switches Back to Markups as CFPB Shifts Away From Enforcement

BB&T announced its move about a week after the CFPB’s acting director stripped enforcement powers from the division responsible for pursuing discrimination...

https://www.autodealertodaymagazine.com/323718/bbt-switches-back-to-markups-as-cfpb-shifts-away-from-enforcement
Categories: Auto Finance, Compliance, Dealer Ops, F&I
Appeals Court Rules CFPB Structure Is Constitutional

On Wednesday, the D.C. Court of Appeals ruled 7-3 that a provision in the Dodd-Frank Act that says the CFPB director can only be removed for cause does not...

https://www.autodealertodaymagazine.com/323696/appeals-court-rules-cfpb-structure-is-constitutional
Categories: Auto Finance, Compliance, Dealer Ops, F&I

The two partners, Lucy Morris and Ryan Stinneford, join 12 other Hudson Cook attorneys who have been named ACCFSL fellows.

https://www.autodealertodaymagazine.com/323692/hudson-cook-partners-elected-fellows-of-american-college-of-consumer-financial-s
Categories: Auto Finance, Compliance, Dealer Ops, F&I
FTC Approves Consent Order in Texas Dealer’s Deceptive Advertising Case

The approval settles the FTC's December 2017 complaint against Dallas-based Cowboy Toyota regarding its Spanish-language newspaper ads. The regulator...

https://www.autodealertodaymagazine.com/323685/ftc-approves-consent-order-in-texas-dealers-deceptive-advertising-case
Categories: Auto Finance, Compliance, Dealer Ops, F&I
Darwin Updates F&I Platform to Address Military Lending Act Rules

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.

https://www.autodealertodaymagazine.com/323678/darwin-updates-fi-platform-to-address-military-lending-act-rules
Categories: Auto Finance, Compliance, Dealer Ops, F&I
Judge Again Rules in Favor of Trump in Battle for Control of CFPB

A federal judge denied a request by a high-ranking CFPB official for a preliminary injunction to remove President Trump’s appointee as acting head of the...

https://www.autodealertodaymagazine.com/323657/judge-again-rules-in-favor-of-trump-in-battle-for-control-of-cfpb
Categories: Auto Finance, Compliance, Dealer Ops, F&I

Based on an interpretive rule issued by the Defense Department on Dec. 14, including credit-protection products like GAP in a servicemember’s vehicle...

https://www.autodealertodaymagazine.com/323619/updated-core-fi-product-could-put-some-auto-finance-deals-under-military-lending
Categories: Auto Finance, Compliance, Dealer Ops, F&I

The Government Accountability Office said on Tuesday that the bureau’s March 2013 bulletin on dealer participation falls under the Congressional Review Act,...

https://www.autodealertodaymagazine.com/323597/goa-says-congress-can-review-cfpbs-guidance-on-dealer-participation
Categories: Auto Finance, Compliance, Dealer Ops, F&I

Sen. Chris Dodd and former Rep. Barney Frank say the CFPB-creating law bearing their names does not fall under the purview of the Federal Vacancies Reform...

https://www.autodealertodaymagazine.com/323581/fight-for-control-of-cfpb-not-over-democrats-say
Categories: Auto Finance, Compliance, Dealer Ops, F&I

The latest payout is related to the $4.1 million settlement the bank reached in September 2016 to resolve the DOJ’s allegations that the bank violated the...

https://www.autodealertodaymagazine.com/323559/wells-fargo-dealer-services-adds-5-4m-to-2016-military-repo-settlement


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