compliance - Tagged Posts - Auto Dealer Today

Time to Man Up

The auto industry and the finance companies that fuel it have yet to mount a proper response to the CFPB's threats and actions.

Moody’s Sees Silver Lining in Regulatory Scrutiny of Auto Finance

Moody’s expects the performance of new and outstanding auto loan ABS deals to suffer temporarily due to current regulatory activity, but it does see a silver lining in the increased scrutiny of the auto finance marketplace.

Mass. AG Investigating Santander’s Subprime Lending Business

Massachusetts Attorney General Martha Coakley has ordered Santander Consumer USA to produce documents related to its subprime auto lending business. The AG said she is also looking into the practices of a handful of other auto lenders.

N.Y. Shuts Down Subprime Auto Lender

Condor Capital must pay an estimated $8 million in restitution to harmed customers, a $3 million penalty and admit violations of the Dodd-Frank Act and New York state law. The lender will also surrender its licenses in all states.

The 100% Rule

Your process for total compliance and F&I sales should be designed to meet a common goal.

Legal Expert Rings in the Holidays With ‘12 Days of Dealership Compliance’

AutoStar Solutions’ Steve Levine shares a dozen simple ways dealers can guard their businesses from the government Grinch.

Dealers Sentenced to 3 Years for Sales Tax Evasion

Two brothers operating Space Auto Sales and Spin Auto Sales failed to pay more than $1.5 million in sales tax from the sale of vehicles between 2007 and 2009.

Florida Speakers Headline Compliance Summit

Ted Smith, president of the Florida Automobile Dealers Association and Alex Kurkin, a well-known attorney and veteran dealer advocate with Kurkin Brandes, will open the inaugural Compliance Summit in Hollywood, Fla., on Nov. 10.

Inaugural Compliance Summit Set for Nov. 10-11

The new event is designed to offer actionable compliance solutions to dealers and their partners. It will be held at the Seminole Hard Rock Hotel & Casino in Hollywood, Fla.

CFPB Proposes New Oversight of Nonbank Auto Finance Companies

The CFPB announced this week a proposed rule that would allow it to oversee about 38 nonbank auto finance companies. The bureau also plans to release a new whitepaper which details the methodology it uses to determine the presence of discrimination in auto lending.