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Regulators Will Strike Back!

Regulators Will Strike Back!

At the Consumer Bankers Association (CBA) Conference earlier this year, an informal poll was taken from the several hundred bankers in the audience as to the major concerns they had for their industry. For the past six years, compliance was substantially the greatest concern and ranked first. However, in the 2017 poll, compliance declined to … Read More »

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How to Adjudicate Claims for High-Risk Clients

How to Adjudicate Claims for High-Risk Clients

In the P&A segment, working with high-risk clients can lead to financial rewards, but runaway claims bear scrutiny. At last August’s P&A Leadership Summit, I had the honor of leading a panel of experts in a discussion about anticipating, identifying and properly managing such scenarios. I was joined by Trish Myers, a senior financial analyst … Read More »

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Cover Your Acetabulum

Cover Your Acetabulum

If you’re old enough to read this article, you know what “CYA” means. For those of you who aren’t, it stands for “cover your acetabulum.” (That’s the large bone that contains your hip socket.) If you thought it meant something else, shame on you. But for purposes of this article, CYA stands for “certify your … 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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Providers Join the Online F&I Debate

Providers Join the Online F&I Debate

Among the highlights of the most recent P&A Leadership Summit was “Presenting F&I Products Online,” a panel discussion convened to discuss whether and how F&I products should be introduced and sold to car buyers on dealership or provider websites. Kumar Kathinokkula, COO of F&I Administration Solutions, served as moderator. He was joined by Justin Gasman, … Read More »

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