Rules of the Road

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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.
Women Are Not a Moving Target
Simple promises and superior results are the key to marketing your dealership to women.

Rules of the Road News

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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.
U.S. House Passes Resolution to Block CFPB's Arbitration Rule
The U.S. House passed a joint resolution of disapproval under the Congressional Rule Act to block the CFPB’s rule banning mandatory arbitration clauses in finance contracts. The resolution now needs Senate approval and the president’s signature to repeal the rule, which industry insiders say could impact the sale of F&I products.
Republicans Challenge CFPB’s Arbitration Rule
The day after the Consumer Financial Protection Bureau published its new arbitration rule in the Federal Register, House and Senate Republicans filed joint resolutions to block the rule from taking effect in September..
Hudson Cook Team Updates ‘CARLAW F&I Desk Book’
Authored by attorneys Thomas B. Hudson, Michael Benoit, Ralph Rohner and the attorneys of Hudson Cook LLP, 'CARLAW F&I Legal Desk Book (7th edition) – The Answer Book for Finance and Insurance Professionals,' presents a law-by-law, regulation-by-regulation guide through the legal maze that dealers face every day.
StoneEagle Opens Dallas Golf Tournament Registration
Registration is now open for Golf for Heroes, a charity tournament benefiting Carry The Load that will be held in conjunction with Industry Summit.
StoneEagle Seeks Sponsors for Charity Golf Tournament
StoneEagle is offering $3,500 hole sponsorship opportunities to companies and individuals that wish to support Golf for Heroes and Carry The Load.
PALS Session to Bridge Gap Between Lenders, Product Providers
F&I Express’ Brian Reed will lead a presentation designed to establish improved lines of communication between leading executives in the auto finance and F&I product provider segments.
Three States Pass GAP Laws
The Guaranteed Asset Protection Alliance, a lobbying group made up of GAP providers, administrators and finance sources, was instrumental in getting two of the three laws passed — the most recent state to adopt its model act being Maine.
CFPB Issues Rule Banning Arbitration Clauses in Finance Contracts
The new rule is set to take effect 60 days after publication in the Federal Register. It comes more than two years after the bureau studied mandatory arbitration clauses and one year after it proposed to ban such clauses in consumer finance contracts.
O’Loughlin Joins Compliance Summit Roster as Featured Speaker
Attorney, compliance expert and former regulator Terry O’Loughlin will deliver a featured presentation devoted to Rules and Regulations at the upcoming Dallas Compliance Summit.