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Categories: Auto Finance, Compliance, F&I

The AFIP’s executive director says it’s time to say goodbye and good riddance to a relic of F&I’s past. He explains why ‘a little wiggle room’ hurts new-car...

https://www.fi-magazine.com/310740/r-i-p-payment-packing
Categories: Auto Finance, Compliance

The NADA has filed a second Freedom of Information Act request for internal CFPB documents that allegedly show the bureau intended to regulate the auto...

https://www.fi-magazine.com/321958/nada-files-second-request-for-internal-cfpb-documents
Categories: Auto Finance, Compliance, Dealer Ops, F&I
Fifth Third Bank to Cap Dealer Markups

The CFPB and DOJ announced two actions against Fifth Third Bank on Monday, one of which requires the finance source to pay $18 million in restitution to...

https://www.fi-magazine.com/321932/fifth-third-bank-to-cap-dealer-markups
Categories: Auto Finance, Compliance

As part of a new initiative to preserve the indirect financing channel, the National Automobile Dealers Association has created a new website and a video...

https://www.fi-magazine.com/353460/nada-expands-effort-to-protect-dealer-assisted-financing
Categories: Auto Finance, Compliance, Dealer Ops, F&I
Solving the CFPB Problem

The man who has led the NADA’s regulatory advocacy efforts since 2006 believes the tide may be turning in the CFPB’s attack on dealer participation.

https://www.fi-magazine.com/310703/solving-the-cfpb-problem
Categories: Compliance

The Consumer Financial Protection Bureau has received more than 677,000 consumer complaints as of August 1, according to the bureau’s monthly consumer...

https://www.fi-magazine.com/321876/consumer-complaints-hit-677-000-cfpb-reports
Categories: Auto Finance, Compliance, Dealer Ops
CFPB Says Santander Violated Fair Lending Laws

The CFPB has notified the Department of Justice that Santander Consumer USA’s auto lending practices have allegedly violated fair lending laws, according to...

https://www.fi-magazine.com/321845/cfpb-says-santander-violated-fair-lending-laws
Categories: Auto Finance, Compliance
CFPB Urges Fifth Third Bank to Cap Dealer Markup

The Wall Street Journal reported this week that the CFPB is urging Fifth Third Bank to cap dealer markup as part of a potential settlement with the regulator.

https://www.fi-magazine.com/321837/cfpb-urges-fifth-third-bank-to-cap-dealer-markup
Categories: Auto Finance, Compliance, F&I
Price Point

The New York attorney general’s crackdown on an F&I product provider and the dealerships that sold its credit repair services comes at a time when federal...

https://www.fi-magazine.com/310693/price-point
Categories: Auto Finance, Compliance

This week, Penske Automotive’s chairman said that Honda Financial Corp’s new markup cap will still allow dealers to be fairly compensated. He also noted...

https://www.fi-magazine.com/321827/penske-honda-rate-cap-provides-workable-framework


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