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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 →Flick Fusion Video Marketing today announced the integration of its Timeline Marketing tool with the suite of website conversion tools developed by marketing software provider Automark Solutions.
Read More →Scan123’s electronic document management system is now integrated with Auto/Mate’s Automotive Productivity Management Suite DMS, allowing Scan123 users to store and access documents through Auto/Mate’s DMS.
Read More →The two firms expect January total light-vehicle sales to total 1.1 million units, while the January SAAR is expected to have reached 16.8 million units. LMC Automotive said its sales forecast for 2016 remains at 17.8 million units.
Read More →Viral marketing firm Vboost opened 2016 by moving into its new offices in Santa Ana, Calif. The move follows the addition of several new features to its viral marketing program for auto dealers.
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.
Read More →Cox Automotive announced today it has acquired a minority interest in F&I product provider SilverRock Holdings LLC. Officials said the products will be sold through dealers affiliated with Go Financial and NextGear Capital.
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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 →According to company officials, 2015 was the best year in the F&I product provider’s 37-year history, as it sold more than 3.4 million contracts.
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