Rules of the Road

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March 2017, Auto Dealer Today - WebXclusive

5 Ways Trump Can Alter Finance

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

By by Christian Scali and Monica Baumann

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.

January 2017, Auto Dealer Today - WebXclusive

Service Advisors Are Working Overtime

By Jeffrey Brecher

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.

Tags: compliance, Department of Labor, employment, Encino Motorcars, Hiring, Jeffrey Brecher, management, Overtime

December 2016, F&I and Showroom - WebXclusive

Hudson: My Job Application to Mr. Trump

By Thomas B. Hudson, Esq.

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.

August 2016, F&I and Showroom - WebXclusive

Magazine Offers Details on Compliance Summit Program

By Tariq Kamal

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.

Tags: ARMD resource Group, CNA National, Compli, compliance, Compliance Summit, Dealer Compliance Consultants, EFG Companies, F&I Express, gvo3 & Associates, Mosaic Compliance Consultants, NFADA, Reynolds & Reynolds, The Warranty Group, Total Dealer Compliance, UDS

August 2016, F&I and Showroom - WebXclusive

Certified for the Future

By James S. Ganther, Esq.

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.

Tags: CFPB, compliance, Compliance Summit, F&I manager, FTC, James Ganther

August 2015, F&I and Showroom - WebXclusive

Solving the CFPB Problem

By Gregory Arroyo

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.

Tags: Andy Koblenz, CFPB, Consumer Financial Protection Bureau, discrimination, Honda Financial Services, NADA, National Automobile Dealers Association, rate markup

August 2015, F&I and Showroom - WebXclusive

The Great Defender

NADA Chairman Bill Fox’s ascendance to dealership and association leadership was largely happenstance, he says.

By Tariq Kamal

New York dealer Bill Fox brings experience, passion, humility and unwavering support for the franchised dealer model to his role as 2015 NADA chairman.

Tags: Bill Fox, NADA, National Automobile Dealers Association, New York

October 2014, Auto Dealer Today - Feature

Apples and Pomegranates

By Tom Hudson

Consumers will suffer from the CFPB’s use of the word ‘loan’ in place of ‘auto finance contracts.’

August 2014, Auto Dealer Today - Feature

Every Avalanche Starts With a Snowflake

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. 

By Jim Ganther

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.

Tags: compliance, Jim Ganther

July 2014, Auto Dealer Today - Feature

Women Are Not a Moving Target

By Jody DeVere

Simple promises and superior results are the key to marketing your dealership to women.

July 2014, Auto Dealer Today - Feature

Event Space

By David Gesualdo

The size and scope of Industry Summit continues to change with time and the demands of the market.

February 2014, Auto Dealer Today - Feature

New Customs

By David Gesualdo

Keeping up with technology requires us to constantly re-evaluate our needs and take no tool for granted.

December 2013, Auto Dealer Today - Feature

NADA in New Orleans: Let the Good Times Roll ... Again

By Jim Ziegler

The Alpha Dawg is ready to laissez les bon temps rouler as the NADA convention returns to New Orleans and welcomes an industry on the rise. Whether the vendors will welcome his presence is another matter.

Tags: Alpha Dawg, Chrysler, Data, Digital Air Strike, Fiat, Jim Ziegler, NADA, New Orleans, On the Point, Sergio Marchionne

May 2013, Auto Dealer Today - WebXclusive

Clay Nissan Settles $1.5M Defamation Suit

By Stephanie Forshee

The legal battle between Clay Nissan and the brothers of a former cancer-stricken employee is over, ending the family’s 10-month campaign against the dealership for terminating their sister.

Tags: BDC, Boycott Clay Nissan, defamation, Facebook, social media, twitter, using social media

April 2013, Auto Dealer Today - WebXclusive

6 Reasons for a Parts Inspection

David Keller is a partner with the accounting firm ofCliftonLarsonAllen, a Top 10 nationwide accountingfirm with extensive experience in serving new- andused-vehicle retailers, heavy truck and utility traileroutlets, and BHPH dealerships. 

By David Keller, CPA, CFE

Inspecting your parts department will tell you where your inventory — and your money — is going. The magazine’s resident accounting expert shows you what to look for.

Tags: BDC, financial statements, Inventory Management, Operational Efficiencies, Operations, parts and service, special order parts, used parts

March 2013, Auto Dealer Today - WebXclusive

Managing By The Numbers

David Keller is a partner with CliftonLarsonAllen, a Top 10 nationwide accounting firm with extensive experience in serving new- and used-vehicle retailers, heavy truck and utility trailer outlets, and BHPH dealerships. Contact him at 314.925.4317. DKeller@AutoDealerMonthly.com

By David Keller, CPA, CFE

A dealership’s financial statement can reveal exactly how it’s perceived in the community. The magazine’s accounting expert identifies the metrics that tell all.

Tags: BDC, customer satisfaction, finanacial statements, finance chargebacks, financial statements

February 2013, Auto Dealer Today - WebXclusive

Are Car Dealers Racketeers?

By Thomas B. Hudson, Esq.

The magazine’s legal expert weighs in on a court case involving a consumer’s use of the RICO Act to sue a dealer.

Tags: BDC, Customer Relations, FEDERAL REGULATION, fraud, lawsuits, RICO act, wire fraud

February 2013, Auto Dealer Today - WebXclusive

10 Must-Follow Advertising Guidelines

By Jim Radogna

Jim Radogna offers 10 insights that will help you navigate the sometimes messy business of advertising.

Tags: advertising, BDC, compliance, false advertisements, Federal Trade Commission, fraud, FTC, radio, Regulators, television advertising

January 2013, Auto Dealer Today - WebXclusive

California to BHPH Dealers: “Get Lost.”

By Thomas B. Hudson, Esq.

The magazine’s legal expert explains why California’s attack on buy-here, pay-here dealers was unwarranted and unneeded.

Tags: Assembly Bill 1534, BDC, BHPH legislation, buy-here-pay-here, California, California Finance Lenders Law, Department of Corporations, Institute for Automotive Service Excellence, legislation, Senate Bill 956

January 2013, Auto Dealer Today - WebXclusive

Thoughts on Managing Inventories

By David Keller, CPA, CFE

CPA David Keller examines why dealers and managers need to make inventory management a top priority if they want to maximize sales opportunities and minimize write-offs and write-downs.

Tags: BDC, CASH FLOW, Inventory Management, Used Cars

January 2013, Auto Dealer Today - WebXclusive

Exercise Caution with Customer Information and Peer-to-Peer Networks

By Mark A. Bross

Attorney Mark Bross examines a recent FTC action involving a dealership's inadvertent disclosue of customers' information over a peer-to-peer network and cautions dealers to assess their own information collection practices.

Tags: BDC, business practices, FTC, GLB Safeguards Rule, Internet, peer-to-peer, PERSONAL IDENTIFICATION INFORMATION, privacy policy

January 2013, Auto Dealer Today - WebXclusive

Related Finance Company Considerations: A Difficult Decision That Requires Extensive Review Cont'd

By David Keller, CPA, CFE

David Keller - You should review all the legal implications with an attorney who is familiar with the BHPH and RFC industry to ensure your paperwork and other related documents comply with all regulations and laws...

Tags: BDC, bhph dealers, Dealer's Guide to Compliant Paperwork, Regulations, special finance

December 2012, Auto Dealer Today - WebXclusive

Harmless Horseplay is not a Harassment Defense

By Jim Radogna

Author Jim Radogna discusses the alarming numbers of harassment and discrimination lawsuits being filed against car dealerships.

Tags: BDC, discrimination, EEOC, employees, employment, Equal Employment Opportunity Commission, harassment, labor laws, lawsuits, privacy policy

December 2012, Auto Dealer Today - WebXclusive

Free Legal Advice on the Internet

By Thomas B. Hudson, Esq.

Attorney Tom Hudson explains why relying on the Internet for legal research and compliance is no substitute for the advice of a qualified legal professional.

Tags: BDC, compliance, Consumer Financial Protection Bureau, consumer protection, federal lawsuit, Federal Trade Commission, Legal, Regulations, retail installment contracts

December 2012, Auto Dealer Today - WebXclusive

How to Improve Your Accounting Department

By David Keller, CPA, CFE

CPA David Keller takes a closer look at the importance and responsibilities of an often-forgotten part of the dealership, the accounting department.

Tags: accounting concerns, BDC, common paperwork problems, morale, parts and service, Service

November 2012, Auto Dealer Today - WebXclusive

When You Must Issue an Adverse Action Notice

By David Missimer

Expert David Missimer, Vice President and General Counsel of Automotive Compliance Consultants, clearly spells out the conditions under which auto dealers must provide an adverse action notice. Missimer explains exactly what dealers must know and when you must issue an Adverse Action Notice under the Fair Credit Reporting Act (FCRA).

Tags: Adverse Action Notice, court, Equal Credit Opportunity Act (ECOA), Fair Credit Reporting Act, FEDERAL REGULATION, FTC, lawsuits, Regulations

November 2012, Auto Dealer Today - WebXclusive

Uncommon Sense

By Thomas B. Hudson, Esq.

Legal expert Thomas Hudson points out the important of a "integration clause" to preclude the buyer from later claiming the dealer orally promised to include in the deal the sun, the moon and the stars.

Tags: Arbitration, BDC, contracts, Deceptive Practices, fraud, integration clause, lawsuits, MVSFA

November 2012, Auto Dealer Today - WebXclusive

Internal Control Concerns Over Electronic Funds Transfers (EFT) and Automated Clearinghouse (ACH) Payments

By David Keller, CPA, CFE

Expert David Keller discusses the importance of security systems and internal control when processing Electronic Fund Transfers (EFT) and Automated Clearinghouse (ACH) payments.

Tags: accounting concerns, ach transactions, automated clearing house, banking, BDC, CASH FLOW, computer security, Electronic Transactions, fraud, online security

October 2012, Auto Dealer Today - WebXclusive

Don’t Forget to Tell Your Inventory Story

By Jim Radogna

Jim Radogna, President of Dealer Compliance Consultants, discusses what vehicle conditions and history reports you should disclose to your customers. Jim also talks about how to determine if the vehicle you're selling should be classified as new or used.

Tags: Auction, AutoCheck, BDC, Carfax, customer satisfaction, Disclosures, Federal Trade Commission, Inventory Management, inventory merchandising, lawsuits, unwinding a deal, vehicle history report

October 2012, Auto Dealer Today - WebXclusive

Preparing Multiple Contracts?

By Thomas B. Hudson, Esq.

Attorney Tom Hudson discusses why the practice of writing multiple contracts on the same deal is bad news and can cause dealers to run afoul of the federal Truth in Lending Act.

Tags: BDC, compliance, contracts, Disclosures, retail installment contracts, Truth in Lending Act

October 2012, Auto Dealer Today - WebXclusive

Service and Parts – More Gross or Less Expense To Obtain Profitability?

By David Keller, CPA, CFE

Author and CPA Dave Keller examines the best way to increase profitability in the parts and service departments.

Tags: BDC, improving your service department, increasing sales, labor to parts ratio, parts and service, Profitability, selling service, technician training

August 2012, Auto Dealer Today - WebXclusive

You Should Not Be in the BHPH Business If …

By Thomas B. Hudson, Esq.

A few words of caution from attorney Tom Hudson: if you fit any of these descriptions, you shouldn't be in the BHPH business.

Tags: BDC, bhph, compliance, Consumer Financial Protection Bureau, lawsuits, retail installment contracts

August 2012, Auto Dealer Today - WebXclusive

Be Ready For Fraud

By David Keller, CPA, CFE

CPA and certified fraud examiner David Keller goes over several measures dealers can take to protect their dealerships from internal theft and fraud.

Tags: accounting concerns, BDC, check-kiting scheme, computer security, employee theft, fraud, How Auto Dealers Manage and Mitigate Security and

August 2012, Auto Dealer Today - WebXclusive

UCCC Extraterritoriality - But it’s a Minnesota Contract!

By Nicole Munro

If a finance company buys retail installment contracts from auto dealers in its home state, what happens when a consumer named in one of those contracts moves to a state with different laws from the company’s home state? Attorney Nikki Munro discusses a recent case that poses that very question.

Tags: BDC, Credit Acceptance Corp., default rates, lawsuits, Repossessions, retail installment contracts, Wisconsin

August 2012, Auto Dealer Today - WebXclusive

Is Your Information Safeguards Plan Keeping Up With Technology?

By Jim Radogna

Dealerships have become more technologically advanced since the federal Safeguards Rule was first enacted. Compliance expert Jim Radogna presents some tips to help dealers ensure their information safeguards policy keeps pace with today's technology.

Tags: BDC, compliance, Consumer Financial Protection Bureau, consumer protection, federal lawsuit, FTC, law suits, non-compliance, PERSONAL IDENTIFICATION INFORMATION, privacy policy, privacy violations, Safeguards Rule

August 2012, Auto Dealer Today - WebXclusive

My Compliance Lawyer is Crazy

By Nicole Munro

Attorney Nicole Munro explains why dealers must be prepared if the Consumer Financial Protection Bureau comes knocking on their door and looks at some the the CFPB's recent enforcement actions.

Tags: BDC

August 2012, Auto Dealer Today - WebXclusive

FTC’s Complaint Report

By Thomas B. Hudson, Esq.

The FTC has made a lot of noise about looking into car dealers and their reportedly abusive practices, but what percentage of consumer complaints are actually about car dealers? Attorney Tom Hudson takes a closer look.

Tags: BDC

July 2012, Auto Dealer Today - WebXclusive

The Lenders Are Back

By David Keller, CPA, CFE

Accountant Dave Keller explains how to adjust accounting practices to make things work more smoothly with your lender.

Tags: BDC

June 2012, Auto Dealer Today - WebXclusive

Cash Balance Plans Offer Tax Deferrals for Auto Dealers

By Jay Parrish

Author Jay Parrish examines how cash balance plans can benefit auto dealers.

Tags: BDC

June 2012, Auto Dealer Today - WebXclusive

FTC Hammers Dealers on “Upside Down” Ads

By Thomas B. Hudson, Esq.

Attorney Tom Hudson discusses the Federal Trade Commission's recent settlement orders requiring several dealers to stop running ads in which they promise to pay off a consumer's trade-in no matter what the consumer owes on the vehicle.

Tags: BDC

June 2012, Auto Dealer Today - WebXclusive

Best Practices for a Compliant Service Department

By Jim Radogna

Compliance Expert Jim Radogna explains how taking a conservative approach when dealing with service customers can help service departments avoid misunderstandings, stay off the legal radar, and increase customer satisfaction.

Tags: BDC

June 2012, Auto Dealer Today - WebXclusive

Service and Parts Profitability

By David Keller, CPA, CFE

Accounting expert David Keller explains how to structure the parts and service departments to accurately track sales and cost activity and increase gross profits.

Tags: BDC

June 2012, Auto Dealer Today - WebXclusive

New GAP Waiver Rules in Ohio

By Nicole Munro

For many years, Ohio law has left many wondering whether the cost of GAP products can be financed. Attorneys Nicole Munro and Glenn Knirsch discuss the recent passage of a bill in Ohio that at last addresses the uncertainty surrounding the sale of these products.

Tags: BDC

May 2012, Auto Dealer Today - WebXclusive

Wars and Rumors of Wars

By Thomas B. Hudson, Esq.

Attorney Tom Hudson addresses a few of the rumors that have been circulating about potential actions of the new federal Consumer Financial Protection Bureau.

Tags: BDC

May 2012, Auto Dealer Today - WebXclusive

Tracking The New Year - Part Two

By David Keller, CPA, CFE

Following up on his previous article exploring ways dealers can better track accounting transactions, accountant David Keller discusses various income statement accounts and what dealers can do to make their lives much easier.

Tags: BDC

May 2012, Auto Dealer Today - WebXclusive

Make Sure Your Advertising Will Pass Muster in Your State

By Jim Radogna

The primary responsibility for truthful and non-deceptive advertising rests with the dealer, not outside vendors or agencies. Jim Radogna offers several examples of advertising rules dealers should pay close attention to.

Tags: BDC

April 2012, Auto Dealer Today - WebXclusive

Dealer Financing, Pricing Discretion and Class Action Lawsuits

By Thomas B. Hudson, Esq.

Attorney Tom Hudson discusses a recent court decision in the housing finance area that could be useful in the auto financing arena as well.

Tags: BDC

April 2012, Auto Dealer Today - WebXclusive

Tracking The New Year

By David Keller, CPA, CFE

Accountant David Keller explores some ways dealers can better track accounting transactions to aid in their year-end comparison and analysis process.

Tags: BDC

April 2012, Auto Dealer Today - WebXclusive

Arbitration Remains in the Spotlight – Even Outside of the Ninth Circuit

By Nicole Munro

The Consumer Financial Protection Bureau recently began a public inquiry into how consumers and financial services companies are affected by arbitration and arbitration clauses. Attorneys Nicole Munro and Latif Zaman of Hudson Cook look at how some state courts are finding ways to invalidate arbitration provisions.

Tags: BDC

March 2012, Auto Dealer Today - WebXclusive

When “As Is” Doesn’t Mean “As Is”

By Thomas B. Hudson, Esq.

Attorney Tom Hudson examines an appellate case in which the term “as is” did not protect the dealer from allegations of fraud and violation of the Michigan Consumer Protection Act.

Tags: BDC

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