CFPB Needs a New 'Tool,’ Study Finds
F&I and Showroom delves into a new study commissioned by the American Financial Services Association. It concludes that the CFPB’s use of the BISG proxy method is “conceptually flawed” and could lead to overstatement of alleged harm to consumers.
Crisorio Named Compliance Summit Keynote Speaker
The president and CEO of United Development Systems will open the new compliance event with a keynote address. He will offer his take on how dealers can stay out of the crosshairs of what many believe to be government overreach.
Minnesota AG Sues EFG Over Service-Contract Refunds
Attorney General Lori Swanson is suing EFG Companies for deceptive practices because it failed to deliver on its promise of full refunds for VSCs canceled within 30 days. The company’s CEO tells F&I and Showroom his company will be exonerated once all the facts are presented.
5 Serra Nissan Employees Arrested
The indictment of the five dealership employees follows federal charges levied against two other Serra Nissan sales managers earlier this year. They are facing federal charges related to a scheme to fraudulently boost loan approvals and car sales.