There are many parallels between COVID-19 and compliance, as both are different varieties of disaster and require planning and foresight to address. Lessons learned during this pandemic apply with equal force to compliance issues.
As COVID-19 has lead to more vehicles being financed and purchased online, the ability of the F&I department to sift out synthetic fraud will be increasingly valuable to them. F&I managers are encouraged to take another look at available technologies to identify synthetic fraud when practiced against their dealership.
The disparity between the cost of new vehicles versus used vehicles has been increasing over the past 10 years. With this changing sales dynamic, compliance issues regarding used vehicle sales are growing in significance.
Is the traditional credit allocation approach the only manner for the extension of credit? Or, are there alternatives?
Dealers need to ensure they are remaining ADA compliant while catering to various groups of consumers.
Every member of the F&I industry can help protect its reputation by sticking to the terms that elevate, rather than denigrate, this important part of the car buying and ownership process.
Agents can and should help dealers design, install, and enforce their federally mandated CMS. Luckily for everyone involved, the instructions are freely available.
As state and federal regulations continue to evolve, it is crucial you ensure your dealership is selling above the line and paying attention to all safety recalls.
At least 6.4 million flu cases were reported between October and December 2019. Given that influenza is a serious medical condition, do dealerships have a role to play in limiting its spread?
The Consumer Financial Protection Bureau (CFPB) announced four members who will serve on the Taskforce on Federal Consumer Financial Law.
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