As we enter a new administration, dealers will need to continue navigating new sales processes while also reverting their attention to risk management and government regulators. Let’s take a look at the likely highest risk areas and discuss a plan to mitigate them.
We live in an ‘Age of Compliance Awareness’ and someone is always watching. We should care about what they see.
On June 29, the United States Supreme Court ruled that the structure of the Consumer Financial Protection Bureau was unconstitutional. A compliance expert shares why this matters, and why it matters to dealers in particular.
The FTC recently issued a report that summarizes its enforcement actions, roundtable findings, consumer workshops, and in-person interviews with 38 Washington D.C. metro-area consumers focused on deceptive advertising practices, spot-delivery, and voluntary protection products.
Even with the benefits of moving into the digital world, some risks have also amplified. Taking some of these precautions can help your dealer avoid the angst of identity theft.
For agents, being alert to phishing attacks and preventing them is a legal obligation. Here’s how to successfully recognize and deter the scammers.
Law requires that dealers have policies, procedures, and processes in place to reasonably detect and prevent identity theft. Agents can assist their dealer-clients to ensure these updates are completed and solutions implemented.
Agents can and should help dealers design, install, and enforce their federally mandated CMS. Luckily for everyone involved, the instructions are freely available.
Experienced agents know noncompliance isn’t limited to the F&I department. Help your dealers avoid harming customers or running afoul of regulators by kicking their kinks out of the box, off the desk, and away from the showroom.
This year’s Industry Summit will be held Nov. 4–6 at the New Orleans Marriott, offering the nation’s premier advanced F&I training curriculum, new and returning tracks and events, and free admission for the first 100 dealers and general managers who sign up when registration opens this summer.
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