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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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According to Helion Automotive Technologies, Hackers are tricking dealership employees into clicking on malicious emails to gain access to F&I and accounting departments.
Read More →Republicans were expected to lash out at the CFPB during its semi-annual report to Congress, but there were a few unexpected critics from the other side of the aisle as well.
Read More →Richard Cordray and Republican members of the House Financial Services Committee are set to square off next Wednesday. It will be the first time the director of the CFPB will appear before the committee since it issued two reports criticizing the bureau’s activities in the auto finance arena.
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Celebrated F&I trainers Luis Garcia, Gerry Gould and Rick McCormick will join forces at F&I Think Tank to lead Shark Tank, a 20 Group-like session that will allow attendees to get answers to troublesome customer objections, deal situations and departmental issues.
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Organizers of Dealer Summit announced that Charlie Robinson, president and COO of the Resource Automotive division at The Warranty Group, will deliver the keynote address for F&I Think Tank.
Read More →The three-year standoff between Toyota Motor Credit, the Justice Department and the CFPB is over, with the captive agreeing to pay up to $21.9 million in restitution to minority borrowers the regulators allege were overcharged on their auto loans. The captive also agreed to lower its dealer markup caps.
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Six of the industry’s top compliance experts will be at the Sheraton Tampa Riverwalk Hotel to lead a 20 Group-like session on compliance. Aside from fielding questions from attendees, the group will tackle some pervasive regulatory myths surrounding the F&I office.
Read More →The regulator said the three companies agreed to settle its charges that they failed to disclose that some certified pre-owned vehicles were subject to open and unrepaired safety recalls despite claims of rigorous inspections in advertisements.
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Attorney General Eric Schneiderman filed suit last week against Koeppel Auto Group as part of its two-year crackdown on payment packing and the sale of credit repair and identify theft protection services.
Read More →Dealer Summit organizers have announced that Kenneth Hill, managing director of 700Credit, has agreed to speak at the 2016 event, which will be held May 3–5 at the Sheraton Tampa Riverwalk Hotel.
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