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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Crowe Horwath Plans Tax Reform Webinar
A free webinar offered by Crowe Horwath will review key considerations for dealers concerned about the effects of the recently enacted federal tax reform.
What’s Next? Experts to Share 2018 Predictions in Complì Webinar
Complì’s ‘2018 Predictions for Dealers’ webinar will feature a who’s who of automotive industry thought leaders.
Judge Again Rules in Favor of Trump in Battle for Control of CFPB
A federal judge denied a request by a high-ranking CFPB official for a preliminary injunction to remove President Trump’s appointee as acting head of the agency. The decision sets the stage for a possible appeal.
UPDATED: Core F&I Product Could Put Some Auto Finance Deals Under Military Lending Act’s Requirements
Based on an interpretive rule issued by the Defense Department on Dec. 14, including credit-protection products like GAP in a servicemember’s vehicle finance contract could subject it to a slew of restrictions and requirements under the Military Lending Act (MLA).
Wells Fargo Names New Head of Consumer Lending
About a month after dismissing its former head of consumer lending, Wells Fargo named Mary Mack to the post. The 33-year Wells Fargo veteran will maintain her prior duties as senior executive vice president of community banking, which she has led since July 2016.
FTC Reminds Businesses of Duties to Victims of Identity Theft
The Fair Credit Reporting Act’s ‘business records turnover provision’ requires that business provide free of charge and without subpoena records relating to the theft within 30 days of a victim’s written request.
Cox Automotive Files Antitrust Lawsuit Against CDK Global
Add Cox Automotive to the growing list of tech vendors and dealers alleging that CDK and Reynolds and Reynolds Co. conspired to eliminate competition for data integration services and seize control over dealer and third-party data.
GOA Says Congress Can Review CFPB’s Guidance on Dealer Participation
The Government Accountability Office said on Tuesday that the bureau’s March 2013 bulletin on dealer participation falls under the Congressional Review Act, a decision that clears the way for the Republican-controlled Congress to repeal the bureau’s controversial guidance.
Fight for Control of CFPB Not Over, Democrats Say
Sen. Chris Dodd and former Rep. Barney Frank say the CFPB-creating law bearing their names does not fall under the purview of the Federal Vacancies Reform Act. They joined other Democrats and activists last week in announcing plans to challenge a federal judge's ruling that denied a CFPB official's attempt to block President Trump’s interim director appointee.
Mick Mulvaney speaking at an event in Washington, D.C. (Photo by Gage Skidmore) Judge Sides With Trump in Battle for Control of CFPB
A federal judge refused to block the appointment of Mick Mulvaney as interim director of the Consumer Financial Protection Bureau, but the Trump administration’s victory may only be temporary.