Archive | Compliance

A View from the Dark Side

A View from the Dark Side

Car dealers and the industry, in general, are savvy, creative entrepreneurs and possess great common sense. But, they have an enormous blind spot as it relates to how they are perceived by the regulating community. Federal and state agencies, consumer protection organizations, and private plaintiffs, the Dark Side, are openly hostile to the industry of … Read More »

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Everything You Need to Know About Advertising Cars and Trucks*

Everything You Need to Know About Advertising Cars and Trucks*

There is simply no way a short column could address every issue. However, advertising isn’t that complex and conscientious dealers can certainly understand the basics and apply them. I would never discourage dealers from using their attorneys or advertising firms for assistance in these matters. But, understanding advertising basics will help dealers converse with their … Read More »

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The Consumer Financial Protection Bureau’s Encroachment Into the Auto F&I World

The Consumer Financial Protection Bureau’s Encroachment Into the Auto F&I World

When Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act, both the auto dealer and insurance industries were at the table to be sure they were carved out from the jurisdiction of the now powerful Consumer Financial Protection Bureau, better known as the CFPB. As is frequently the case, however, legislative exemptions are … Read More »

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Planning a CFPB Friendly Compliance Program

Planning a CFPB Friendly Compliance Program

Every dealer should probably take flight if he meets a government regulator who begins the conversation with the statement “I am from the government and here to help you.” Similar sounding statements, and flight responses, are also appropriate when encountering undertakers, ambulance drivers, and income tax preparers. However, dealers can help themselves by learning about … Read More »

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The Compliance Officer Cometh

The Compliance Officer Cometh

With apologies to Eugene O’Neil and his play, The Iceman Cometh, the need for every business organization, including dealerships, to have a compliance officer is a simple business fact. Earlier this year, the Wall Street Journal featured an article that flatly stated that compliance officers are the fastest growing occupation in American business. The reason … Read More »

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Planning a Compliance Program for Sales and F&I – First Steps

Planning a Compliance Program for Sales and F&I – First Steps

Compliance is an extremely broad term and applies to every area of a dealership. The NADA has produced a rather bone-chilling diagram of each department of a dealership and what laws apply to each of these departments. Every dealer, franchise or independent, should have a copy of the NADA publication, The Regulatory Maze. Download “The … Read More »

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