Consumer Portfolio Services CEO Charles Bradley laid out the lender’s compliance efforts during a quarterly earnings call last week. The finance source’s subprime lending activities are currently being investigated by Department of Justice.
Your process for total compliance and F&I sales should be designed to meet a common goal.
USEA implements code of ethics and a certification test for its dealership partners. The move comes more than three months after the NADA notified members that the FTC was investigating biweekly payment programs.
RouteOne attorney Joseph Karam and National Business Development Manager Jesse Pappas will discuss the forthcoming scrutiny of F&I products by the CFPB and the FTC during a webinar on July 23.
Auto Dealer TV's Jennifer Nebrich reports on the passing of Ed Bobit, founder of Bobit Business Media, F&I and Showroom magazine and Industry Summit.
The FTC charged the subprime finance source with using illegal tactics to service and collect on consumer loans, including collecting money consumers did not owe, harassing consumers and third parties, and disclosing debts to friends, family and employers.
Auto Dealer TV's Jennifer Nebrich reports on the NADA's memo regarding biweekly payment products, the FTC's settlements with Nissan and 10 dealers, and setbacks for Tesla in Missouri and with Toyota.
The Federal trade Commission issued a letter last week in support of legislation that would overturn Illinois’ long-standing ban on Sunday car sales. Dealers in the state, however, remain steadfastly opposed to the bill.
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.
By unanimous vote, the Federal Trade Commission approves final orders settling charges against two dealers for deceptive advertising.
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