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Compliance Articles

Adverse Actions

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F&I Management

Adverse Actions in a Multi-Creditor Environment

The issue of who must give notice of adverse action in an indirect financing scenario when a dealer submits an application for credit to multiple financing sources comes up from time to time.

Dealer Liability for Failure to Deliver Adverse Action Notices

Dealership may be liable for failure to deliver adverse action notice where financing company does not deliver notice.

Responsibility for Adverse Action Notice

When is ‘Adverse Action’ Notice responsibility of dealer and when is notice responsibility of finance company?

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Dodd-Frank Disclosures

Among the many changes under the Dodd-Frank Wall Street Reform and Consumer Protection Act are a new adverse action notice disclosure under the Fair Credit Reporting Act and a change to the risk-based pricing notice requirements.

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12 Steps to Get You Started


This article outlines some steps you can take toward establishing a serious compliance program, followed by a guesstimate of the ‘hard costs’ involved, not including management time, implementation time, and time your employees spend studying, training, and researching.

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A Compliance Program That Won't Break the Bank


Sales and profits down? Business off? Guess who doesn’t care? Attorneys General and plaintiffs’ lawyers, that’s who. Car Dealers are more and more frequently the targets of lawsuits and enforcement actions.

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Advice to a Brand-New Compliance Officer


When it comes to initiating a compliance management system and you aren’t yet equipped to do the job it’s vital to “know what you don’t know.”

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Dealers, Dollars and Disparate Impact


The CFPB is employing a broad definition of the word ‘discrimination’ to put the squeeze on dealers, and the NADA has responded. Learn why one compliance expert believes both groups may have gone too far.

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CFPB Scrutiny Spurs Compliance Training


The Consumer Financial Protection Bureau’s scrutiny of F&I practices is spurring greater demand for regulatory compliance training. What's your dealership doing to comply with new industry rules and regulations?

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The Evil That Men Do, Part 1


The temptation to “game the system” is not limited to unethical dealerships. In fact, virtually everyone involved in the service contract environment can cheat it to their own advantage. Given that everyone who participates needs to play fair for the system to work for all, how can the “bad guys” be controlled?

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The Evil That Men Do, Part 2


In Part 2 of this two-part series the author examines what corrective actions a dealership can take in order to eliminate or reduce unethical behavior related to Vehicle Service Contracts and discusses which of these actions may be the most efficient.

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Featured Article

The Death of Disparate Impact

As you may recall, the Consumer Financial Protection Bureau (CFPB) has been making quite a fuss about racial equality in the realm of auto finance over the past year or so. Specifically, the CFPB contends that women and minority members may be paying more for credit than white males. When this is the result of actual prejudice, it is called “disparate treatment,” and is certainly illegal. But when it is the result of colorblind policies and arm’s-length negotiation, it is called “disparate impact.”

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