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NewsMarch 25, 2014

Dealers' Choice Awards Moved to August

The publishers of Auto Dealer Monthly have announced that the magazine’s annual Dealers Choice Awards have been moved from the April issue to the August issue.

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NewsMarch 25, 2014

N.Y. Attorney General Settles With 6 Dealers for Deceptive Ads

As part of the settlement, the six dealerships must reform their advertising practices and pay fines of up to $15,000. A seventh dealer was served with a statutory notice of the attorney general’s intention to file a lawsuit.

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NewsMarch 25, 2014

Toyota to Pay $1.2 Billion for Acceleration Issues

Toyota will pay a $1.2 billion financial penalty — the largest penalty ever imposed on an automotive company — for concealing and making deceptive statements about two safety issues affecting its vehicles in 2009, the U.S. Department of Justice announced last week.

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NewsMarch 21, 2014

Auto Dealer TV Debuts

Catch the first episode of Auto Dealer TV, brought to you by Auto Dealer Monthly and F&I and Showroom magazine.

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Newsby Brittany-Marie SwansonMarch 20, 2014

Evergreen Bank Moves to Flat Fees Due to Regulatory Pressures

Earlier this month, Evergreen Bank Group issued a statement about its decision to move to a flat fee pricing model. The move was in response to a low FDIC rating and alleged violations of the ECOA.

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Newsby Gregory ArroyoMarch 20, 2014

Allstate President Resigns

Douglas Herberger resigned from his post as president of Allstate Dealer Services this week. A replacement has not been named, but the company told industry partners on Tuesday it’s already in the process of transitioning to new leadership.

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Newsby Brittany-Marie SwansonMarch 20, 2014

CFPB is ‘Least Accountable’ Federal Agency, Lawmaker Charges

Rep. Jeb Hensarling, on behalf of the House Financial Services Committee, released a video Monday calling on the CFPB to make its advisory council meetings open to the public.

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NewsMarch 18, 2014

FTC Charges Ark. Dealer With Not Displaying Buyers Guides

After being warned that it was failing to adhere to the FTC’s Used Car Rule, the Abernathy Motor Co. was charged with not displaying a Buyers Guide on used vehicles offered for sale. Each violation could result in a civil penalty of up to $16,000.

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NewsMarch 5, 2014

Ryan Schumacher Named VP of Finance for NAC, FFDS

The combined entity of National Auto Care and Family First Dealer Services named Schumacher vice president of finance. He previously served with Allstate Dealer Services.

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NewsMarch 3, 2014

Save the Date for Industry Summit 2014

Organizers of Industry Summit 2014 have announced that the event will be held September 8–10 at Paris Las Vegas. The show now includes the F&I Conference, Special Finance Conference, Dealership Sales & Technology Conference and the P&A Leadership Conference.

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