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NewsJuly 21, 2015

Department of Defense Issues Final Military Lending Act Rule

Today, the Defense Department issued a final rule that expands the types of credit products covered by the 36% rate cap and other military-specific protections under the Military Lending Act.

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NewsJuly 21, 2015

GSFSGroup Earns Third-Straight Dealers’ Choice Award

For the third straight year, GSFS Group was selected by readers of Auto Dealer Monthly as one of the best reinsurance product providers.

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Newsby Brittany-Marie SwansonJuly 21, 2015

Sonic Cautious About CFPB, But Revs Up Hybrid F&I Push

Sonic executives said the company is delaying plans to launch a captive finance company in light of the CFPB’s recent settlement with Honda Finance. But the group has given the go-ahead for the first phase of its much-delayed hybrid sales process.

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NewsJuly 21, 2015

Sheehy Raises More Than $200,000 to Benefit the American Heart Association

The dealer group sold 6,500 vehicles in 54 days as part of its 18th annual Sheehy 6000 sales event, raising more than $200,000 to benefit the American Heart Association.

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NewsJuly 21, 2015

F&I Express Releases Compliance Tool for F&I Product Pricing

With F&I products likely to draw the CFPB’s attention, F&I Express’s new CompliPrice designed to help dealers ensure profits made on the sale of F&I products are compliant with their stores’ pricing policies.

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NewsJuly 17, 2015

CFPB Deputy Director Steve Antonakes Steps Down

After nearly five years with the CFPB, Deputy Director Steve Antonakes is stepping down from his position as the bureau’s No. 2 official to spend more time with his family.

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NewsJuly 16, 2015

Win a Trip to Industry Summit 2015

IAS and F&I and Showroom magazine have launched a new contest that will send five F&I managers to Industry Summit 2015. The competition will be used to tee up a special F&I manager- and agent-only workshop session at the magazine’s annual conference.

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NewsJuly 14, 2015

NADA Urges Dealers to Review FCC’s TCPA Ruling

The ruling, issued Friday, could require changes in dealers’ telephone and text marketing practices. Among the changes that could affect dealers is the TCPA’s interpretation of the term “automatic telephone dialing system.”

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NewsJuly 14, 2015

N.Y. AG Announces Two Actions Against Dealers

New York Attorney General Eric T. Schneiderman announced two separate actions this week against a 22-store dealer group and a Hyundai dealership, both related to deceptive advertising practices.

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Newsby Brittany-Marie SwansonJuly 14, 2015

CFPB, DOJ Reach $24M Settlement With Honda Finance

Just two weeks after American Banker reported that the CFPB was planning to cite three captive auto finance companies for policies that allegedly caused minority car buyers to pay higher rates for auto loans, the bureau and the Department of Justice have announced a settlement with Honda Finance Corp.

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