Identity theft and data breaches continue to be a serious and ongoing issue for consumers and businesses. In fact, according to the U.S. Department of Justice, about 9% of U.S. residents age 16 or…
7 Features Your Compliance Software Should Have
With the constant threat of audits, fines and lawsuits, every dealership must take compliance seriously. Fortunately, there are cost savings to be found in integrating finance and sales flow compliance functions. Here are seven…
Don’t Play “Hot Potato” With Adverse Action Notices
As much as your dealership would like to be able to sell to every customer, sometimes it doesn’t work out. Maybe a customer was credit-challenged, so you decided not to send their application to…
F&I Compliance Tip: Red Flags Rule
Designed to prevent your dealership from becoming a victim of identity fraud, the “Red Flags Rule” requires your dealership to develop and implement a program to detect, prevent, and mitigate identity theft.
The 5 Ws of Privacy Notice Compliance for Dealerships
Your dealership’s privacy notice may seem like just another piece of paperwork, but it’s a vital part of your compliance plan. The federal and state consumer protection regulations that require privacy notices address a…
Stranger Danger: Why Identity Verification is Important for Compliance
In 2022 alone, the Federal Trade Commission received more than 1.1 million reports of identity theft and more than 2.3 million reports of fraud. Legislators and consumer protection agencies are well aware of the…
The F&I Compliance Landscape for Dealers in 2021
As the automotive industry continues to adjust to the “new normal” spurred by the pandemic and the technology improvements that have helped keep business moving, here are some aspects of deal compliance that dealerships…
Staying Compliant While Working Remotely
Staying Compliant While Working Remotely The rapidly changing circumstances around the COVID-19 pandemic forced dealerships to adapt quickly. In areas where shelter-in-place or stay-at-home orders led to closed showrooms, some dealership personnel even relocated…
New in Compliance for 2020
The regulatory landscape changes every year, so staying compliant with all of the laws and regulations that apply to your dealership can be a challenge. But if you don’t stay on top of it,…
3 Questions You Should Ask About Your F&I Compliance Technology
Advanced automotive retail technology offers streamlined dealer workflows designed to improve the customer experience and ultimately enhance your profits. These workflows can provide other crucial benefits, including regulatory compliance safeguards and protections against consumer fraud, integrated across the sales and F&I workflow. Here are three questions to…
Minimize Risk and Help Ensure Compliance on Every Deal
It’s understandable that dealers do not enjoy having to think about compliance. The myriad, ever-changing laws, rules and regulations that apply to each deal can be confusing and frustrating. But non-compliance can lead to thousands of dollars in fines, class-action penalties,…
How Operations Oversight Aids in F&I Compliance
It seems that you can’t read the news without learning of yet another massive corporate data security breach. As much as we all hear about the importance of safeguarding customer information, studies show that a majority of data breaches are caused by employees. In your showroom, that…
