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Increase Efficiencies and Promote Compliance in F&I Product Cancelations

Increase Efficiencies and Promote Compliance in F&I Product Cancelations

Dealers, agents, auto finance sources and F&I product providers share a common interest in efficiently processing canceled products and issuing refunds to consumers in an expedited manner. In addition, the Consumer Financial Protection Bureau (CFPB), the Federal Trade Commission (FTC), the U.S. Department of Justice (DOJ), state attorneys general and consumer protection groups have all … Read More »

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Words Matter: Use the Right Ones to Define Lenders

Words Matter: Use the Right Ones to Define Lenders

How often have you been in a conversation when the person is using one word, but means something else? It can be confusing and lead to miscommunication. Frequently we do this in the F&I industry without realizing how the words we use can create an inaccurate impression. While we occasionally indulge in “alternative” definitions, our … Read More »

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F&I Faces Regulatory Uncertainty

F&I Faces Regulatory Uncertainty

It is tempting to speculate that the regulatory environment for the auto finance industry in the months ahead may be more favorable. Don’t count on it. A recent federal case held unconstitutional that portion of the Dodd-Frank Act which permits the Consumer Financial Protection Bureau (CFPB)’s director to be fired only for cause. This decision … Read More »

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