Rules of the Road

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Examining the CFPB’s Arbitration Rule
Legal experts break down the Consumer Financial Protection Bureau’s new arbitration rule and how it could affect your dealership.
President Donald Trump promised sweeping regulatory reform on the campaign trail and could play a pivotal role in easing or eliminating some regulations affecting the auto finance industry. Photo by Gage Skidmore 5 Ways Trump Can Alter Finance
Auto dealer regulations face an uncertain future under the Trump presidency. Two California-based attorneys take a look at the road ahead for the CFPB, the FTC, and state regulators.
Service Advisors Are Working Overtime
The Ninth Circuit has reaffirmed that service advisors are not subject to exemption from overtime pay. Compliance expert unpacks Navarro v. Encino Motorcars LLC and the effect it could have on your fixed-ops budget.
Hudson: My Job Application to Mr. Trump
In response to rumors that President-elect Donald Trump is preparing to oust the Consumer Financial Protection Bureau's director, the magazine’s legal eagle says he’s the right man for the job.
Magazine Offers Details on Compliance Summit Program
Scheduled for Aug. 29-30, Compliance Summit is designed to deliver a crash course in federal regulations and enforcement action to help dealers, agents and industry execs build sustainable sales and F&I processes without sacrificing productivity and profitability.
Certified for the Future
The magazine’s compliance pro breaks down Compliance Summit’s new certification component. He explains how it’s designed to address the industry’s true regulator.
Solving the CFPB Problem
The man who has led the NADA’s regulatory advocacy efforts since 2006 believes the tide may be turning in the CFPB’s attack on dealer participation.
NADA Chairman Bill Fox’s ascendance to dealership and association leadership was largely happenstance, he says. The Great Defender
New York dealer Bill Fox brings experience, passion, humility and unwavering support for the franchised dealer model to his role as 2015 NADA chairman.
Apples and Pomegranates
Consumers will suffer from the CFPB’s use of the word ‘loan’ in place of ‘auto finance contracts.’
Properly presented and described, biweekly payment programs can be an asset to the F&I office and provide benefits to car buyers throughout the life of their loans.  Every Avalanche Starts With a Snowflake
The FTC’s probe of biweekly payment programs was limited in scope and consequence, but it could be a harbinger of further concerns over F&I products and dealer markup.

Rules of the Road News

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New York Attorney General Eric Schneiderman announced that Nissan of New Rochelle will pay $298,000 in restitution and penalties to settle charges relating to the dealership’s “Total Loss Protection” theft-deterrent program. Photo courtesy New York State Office of the Attorney General 'Total Loss Protection' at Center of NY Dealer's $298K Settlement With State AG
The office of New York Attorney General Eric Schneiderman announced that Nissan of New Rochelle will pay $298,211 in restitution, penalties and fees to settle claims the dealership charged hundreds of car buyers thousands of dollars for an ‘unwanted and bogus’ theft-deterrent product.
Ziegler Joins Compliance Summit Roster as Keynote Speaker
Trainer, author, forecaster and industry firebrand Jim Ziegler will deliver the keynote address at the upcoming Compliance Summit.
Industry Summit Extends Early Bird Deadline
Attendees who register by midnight this Friday, Aug. 18, will enjoy a $100 discount on a full-conference pass. Industry Summit is co-located with The Best Training Day Ever and includes F&I Think Tank, the Special Finance Conference, Compliance Summit, and Automotive Compliance Specialist certification by Automotive Compliance Education.
Dave Anderson to Deliver Industry Summit, Best Training Day Ever Keynote Address
LearnToLead founder and nationally recognized leadership trainer Dave Anderson will deliver the Tuesday afternoon keynote address at this year’s Industry Summit as part of the Best Training Day Ever agenda.
Mind the GAP: Wells Fargo Faces New Charges
Wells Fargo has once again found itself under regulatory scrutiny following an internal review and external inquiry that may have uncovered funds owed to car buyers who purchased GAP and paid their loans off early.
State AGs Urge U.S. Senate to Reject Resolution to Block CFPB’s Arbitration Rule
In a letter dated July 28, 21 state attorneys general called on U.S. Senate leaders to support the Consumer Financial Protection Bureau’s new arbitration rule and oppose the current attempt to overturn the rule under the Congressional Review Act (CRA).
Top-Flight F&I Directors Join F&I Think Tank Roster
F&I Think Tank’s ‘The Director’s Chair’ will feature the F&I director for the magazine’s 2016 F&I Dealer of the Year in Tom Andrews, as well as former F&I Pacesetters Dan Mason and Justin Gasman. It will also feature His Madness, Marv Eleazer, as moderator.
Compliance Expert Jim Ganther Joins PALS Roster
Attorney and compliance expert Jim Ganther will present ‘Providers’ Role in Dealership Compliance’ at the upcoming P&A Leadership Summit.
LenderLive Expands Compliance Solutions for Finance Sources
The compliance solutions provider will provide these expanded services through LenderLive Compliance Solution, a new line of business that will offer both bundled and a la carte services to vehicle finance companies, credit unions, community banks, and regional banks.
CFPB: Small-Dollar Lending, Debt-Collection Rules Are Coming
The day Republicans introduced joint resolutions in both houses aimed at blocking the Consumer Financial Protection Bureau’s new arbitration rule, a bureau staffer noted in a blog post that the regulator isn't done writing, issuing and finalizing rules.