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The agency has made it clear in recent enforcement actions and warnings, in auto retail and other industries, that advertised prices must include all nonoptional costs to the consumer.
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N.Y. Dealer Gerald McDonald pleaded guilty last month to submitting fraudulent loan documents to financial institutions. He faces a maximum of five years in prison and a fine of up to $250,000 when he is sentenced on July 19.
Read More →The Consumer Financial Protection Bureau will be holding a field hearing on May 5 in Albuquerque, N.M., to discuss arbitration. CFPB Director Richard Cordray will issue remarks at the hearing
Read More →New York Attorney General Eric T. Schneiderman’s initiative to end dealer “jamming,” or payment packing, has resulted in four separate settlements with four dealer groups. They agreed to return nearly $2 million in restitution to nearly 5,000 consumers and $174,000 in penalties and costs to the state.
Read More →Organizers of Compliance Summit, a series of regional events dedicated to front-end compliance for dealers and dealership management, announced that events will be held in Tampa and Las Vegas this year following stops in Chicago and Austin, Texas, in 2015.
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Vaden Automotive Group's Jane Vaden Thacher will be at next month's F&I Think Tank in Tampa, Fla., to explain how the group's sales and F&I process makes $1,400 per copy a reasonable expectation for F&I producers.
Read More →Dealers and dealership personnel are encouraged to vote for their favorite vendors, suppliers, banks and finance companies in 34 categories covering new- and used-car leads, training, marketing, F&I products and more. Voting for the 12th annual Dealers’ Choice Awards is now open and will remain so until midnight on April 15.
Read More →Jim Ziegler is headed to Tampa, Fla., to deliver his Profit Masters seminar at Dealer Summit, which is scheduled for May 3-5 at the Sheraton Tampa Riverwalk Hotel. Register by April 1 to save $100 off a full conference pass.
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Jim Ziegler is headed to Tampa, Fla., to deliver his Profit Masters seminar at Dealer Summit, which is scheduled for May 3-5 at the Sheraton Tampa Riverwalk Hotel. Register by April 1 to save $100 off a full conference pass.
Read More →Protective Asset Protection’s Rich Moore will present a session dedicated to hiring and training Millennial workers at the upcoming Dealer Summit, organizers announced Monday.
Read More →American Credit Acceptance and Westlake Financial Services have agreed to pay $7.4 million to Massachusetts consumers to settle the state regulator's charges that they charged excessive interest rates on subprime loans.
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