March 26, 2015 - Industry News
The FTC's enforcement sweep, which resulted in six new cases and $2.6 million in monetary judgements, marks the first time the agency has targeted add-on products and services.
Tags: advertising, automobiles, bureau of consumer protection, consumer protection, Dealership Fraud, Federal Trade Commission, marketing
Wise F&I announced today that it is now integrated with The Impact Group’s Fusion Menu presentation software, allowing Wise F&I products to be sold through a customizable, low-pressure sales presentation.
Tags: F&I products, software, The Impact Group, Wise F&I
March 25, 2015 - Industry News
The New Jersey Division of Consumer Affairs has filed a lawsuit against a used-car dealership accused of selling used cars without disclosing prior damage and selling vehicles “as is” when they qualified for a warranty, among other things.
Tags: Deceptive Advertising, fraud, Lawsuit, lemon law
Organizers announced today that Reynolds and Reynolds’ Terry O’Loughlin, who spent 16 years in the Florida attorney general’s office, will kick off the Rules and Regulations portion of the event.
The Silicon Valley Auto Dealers Association has filed an appeal with the San Jose planning department over a proposed CarMax facility, claiming it will “cannibalize” used-car sales.
Tags: California, CarMax, used-vehicle sales
March 24, 2015 - Industry News
Swapalease.com released a new study that shows a majority of customers aren’t interested in car-sharing services or autonomous driving. What they do want is lenders bidding for their business.
Tags: auto finance, Autonomous Driving, Car-Sharing, leasing, Swapalease.com
A new analysis by J.D. Power and DealerRater examines the connection between the service experience and sales. It concludes that to boost sales, dealers need to tune up their service centers.
Kia Motors America will allow dealers to invest in HookLogic's Mobile2Show lead targeting software using 2015 Dealer Advertising Support funds.
Tags: HookLogic, Internet Leads, Kia Motors America
Auto/Mate announced an integration of its dealership management system with DealerPeak’s customer relationship management solution to benefit customers using both systems.
Tags: Auto/Mate, CRM, DealerPeak, DMS integration
March 19, 2015 - Industry News
Service satisfaction is on the rise despite the three-year increase in vehicle recalls, according to J.D. Power. The firm also reported that customer satisfaction was significantly higher at dealerships offering service express lanes.
Tags: Buick, Customer Service Index, Jaguar, JD Power and Associates, service department
The CFPB is finalizing a policy that would allow consumers to publicly share their stories when they submit complaints to the bureau. The regulator is also seeking public comment on ways to highlight positive consumer experiences.
Tags: CFPB, Consumer Credit, Consumer FInancial Protection Bureau
March 18, 2015 - Industry News
The next installment of Compliance Summit, scheduled for April 20-21, will feature high-profile compliance experts and thought leaders covering front-end compliance topics.
Tags: compliance, David Gesualdo, Randy Crisorio, United Development Systems
DealerSocket has selected FlickFusion’s Video Marketing Platform as its primary video marketing platform for its DealerFire website customers.
Tags: DealerSocket, Flick Fusion, Video Advertising
ADESA has expanded its presence in the Pennsylvania auction market with the acquisition of Pittsburgh Auto Auction. This location joins two other ADESA auctions in the region, ADESA Pittsburgh and ADESA PA.
Tags: ADESA, Auto Auctions
A customer of a dealership damaged in Superstorm Sandy was forced to make payments on a trade-in he sold to the dealership last summer. After being contacted by a local news channel, the dealership arranged to reimburse the customer.
Tags: insurance, Superstorm Sandy
March 17, 2015 - Industry News
CFPB Director Richard Cordray fielded questions about dealer compliance programs and a recent study calling out the bureau’s methods for determining discrimination during a semi-annual report to Congress earlier this month.
Tags: American Financial Services Association, BISG, CFPB, Congress, Consumer FInancial Protection Bureau, Richard Cordray, Study
Greg Miller is stepping down as the CEO of the Larry H. Miller Group of Companies after seven years to pursue personal interests.
Tags: CEO, Greg Miller, Larry H. Miller Dealerships, Utah
CNA National Warranty Corporation has selected Sean Harding as its new chief information officer, effective March 16.
Tags: CNA National, Hiring
ACI Up Bill Payment Solutions will allow Westlake customers to pay their loans with a debit card or ACH, which can accept payments online, through a mobile device, or via phone or text.
Tags: Online, Payment Plan, Westlake Financial Services
F&I product provider GWC Warranty is celebrating its 20th year of business in 2015.
Tags: GWC Warranty Corporation
A new study from LendingTree contradicts media claims of a subprime bubble. It shows that finance sources are not taking part in risky lending practices despite growing subprime originations.
Tags: Auto Lending, Equifax, LendingTree, subprime, Wells Fargo
March 12, 2015 - Industry News
The next Compliance Summit event is set to be held April 20–21, 2015, in Illinois. The full day of educational sessions is open to automotive industry professionals involved in front-end compliance.
Tags: attorney, compliance, general agents, Regulations
March 11, 2015 - Industry News
AutoAp says its new Dynamic Recall Management SM service can significantly reduce the time and risk associated with selling vehicles with open recalls.
Tags: vehicle recall
Voting for Auto Dealer Monthly’s 2015 Dealers’ Choice Awards will open Monday, March 16. The awards recognize the industry’s leading third-party vendors, suppliers and finance companies.
Tags: Auto Dealer Monthly, Dealer's Choice Awards
In a report released this week, the regulator revealed that 75% of consumers did not know whether they were subject to an arbitration clause in their agreements with their financial service providers. The study covered six different consumer finance markets, including auto loans.
Tags: arbitration agreements, CFPB, Consumer FInancial Protection Bureau, Dodd-Frank Act
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