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October 7, 2014 - Industry News

Minnesota AG Sues EFG Over Service-Contract Refunds

John Pappanastos, CEO of EFG Companies

Attorney General Lori Swanson is suing EFG Companies for deceptive practices because it failed to deliver on its promise of full refunds for VSCs canceled within 30 days. The company’s CEO tells F&I and Showroom his company will be exonerated once all the facts are presented.

Tags: EFG Companies, extended car warranty, extended warranties, John Pappanastos, Lori Swanson, Minnesota AG, Minnesota Attorney General, Robocalls, telemarketing

October 7, 2014 - Industry News

No Subprime Bubble in Sight, Equifax Says

The credit reporting agency says there are no signs of a subprime bubble despite totals for new credit and new loans originated reaching all-time highs through June.

Tags: Equifax, Equifax National Consumer Credit Trends Report, subprime

October 7, 2014 - Industry News

5 Serra Nissan Employees Arrested

The indictment of the five dealership employees follows federal charges levied against two other Serra Nissan sales managers earlier this year. They are facing federal charges related to a scheme to fraudulently boost loan approvals and car sales.

Tags: bank fraud, F&I manager, fraud, Nissan Motor Acceptance Corp., Santander Consumer USA

October 7, 2014 - Industry News

Auto/Mate Integrates With Infiniti’s Dealer Communication System

Infiniti dealers using Auto/Mate's DMS can now enjoy a seamless communication path with their manufacturer and the flexibility to adopt third-party applications.

Tags: Auto/Mate, DMS integration, Infiniti

October 1, 2014 - Industry News

ADP Dealer Services Spinoff Now Listed on Nasdaq

CDK Global Inc., the new ADP Dealer Services company, began trading as a member of the S&P MidCap 400 Index yesterday.

Tags: ADP, ADP Dealer Services, CDK Global Inc.

October 1, 2014 - Industry News

Judge Allows Antitrust Lawsuit Against CARFAX to Proceed

The antitrust suit filed by more than 750 dealers against Carfax is now headed into discovery after a federal judge denied Carfax's motion to dismiss the case.

Tags: Bellavia Blatt, Carfax, Leonard Bellavia

October 1, 2014 - Industry News

Potratz Releases Web Tool That Predicts Shopper Behavior

ExitGadget uses custom algorithms and device tracking technology to determine when a website visitor is exhibiting signs of abandoning the page. It then delivers a customizable message designed to covert the site visitor into a sales lead.

Tags: Internet Leads, Internet Shopper

September 30, 2014 - Industry News

U.S. News Extends Deal With TrueCar

U.S. News is extending its deal with TrueCar for an additional two years. As part of the new agreement, TrueCar will provide the media outlet's website visitors with access to pre-owned vehicles available through its certified dealer network.

Tags: certified pre-owned vehicles, Partnership, TrueCar

September 30, 2014 - Industry News

Auto/Mate Integrates DMS With MaximTrak F&I Suite

The integration now provides users of both systems with a real-time, bi-directional exchange of information, eliminating redundancies and errors caused by incomplete information transfers.

Tags: Auto/Mate, F&I menu, MaximTrak

September 25, 2014 - Industry News

Industry Could Realize Best September Since 2007, Reports Say

New projections from TrueCar and J.D. Power show the industry heading to its best September sales month since 2007, with sales expected to be as much as 9.7% better than last year.

Tags: J.D. Power and Associates, new-vehicle sales, SAAR, September, TrueCar

September 24, 2014 - Industry News

Manheim Expands Mobile Auctions to Canada

Manheim's Mobile Auctions service is expanding into Canada. They feature remote participation through satellite feed and localized marketing for participating dealerships.

Tags: Auto Auctions, Canada, Dealerships, Manheim, used car sales

September 23, 2014 - Industry News

Haystack, vAuto Partner to Improve Search Marketing Results

Haystak and vAuto are combining vehicle-specific data with targeted advertisements to tailor search engine ads to car buyers who are searching for used cars online.

Tags: Haystak Digital Marketing, Online Marketing, vAuto

September 23, 2014 - Industry News

Exeter Finance Corp. Completes $1.65 Billion Warehouse Funding Facility

A wholly owned subsidiary of Exeter Finance has completed the renewal and extension of its warehouse funding facility, which was increased to $1.65 billion.

Tags: Exeter Finance Corp.

September 23, 2014 - Industry News

New Online Tool Triggers Real-Time Leads for Dealerships

AutoLoop has added a feature to its Essentials platform called Instant Online Leads, alerting sales personnel when a prospective car buyer is requesting more information on a dealer’s website.

Tags: AutoLoop, Internet Leads

September 23, 2014 - Industry News

Cadillac Becomes Separate Business Unit

General Motors has announced a strategic realignment that will establish Cadillac as a separate business unit. In addition, the new Cadillac organization will expand to New York with a new global headquarters opening in 2015.

Tags: Cadillac, General Motors, New York

September 23, 2014 - Industry News

TrueCar Expands Dealer Council

TrueCar adds four new members to its National Dealer Council, a 20-member advisory panel of automotive retailing experts. With the new additions, the council now represents all major automakers.

Tags: TrueCar, TrueCar Dealer Council

September 23, 2014 - Industry News

DealerRater Launches LotShot App

The web application helps dealership employees easily snap and share customer photos via email at vehicle delivery. Officials with DealerRater said the app can increase the likelihood of customers leaving a review by 50%.

Tags: Customer Reviews, Dealerrater, Email Marketing, review site

September 17, 2014 - Industry News

CFPB Proposes New Oversight of Nonbank Auto Finance Companies

The CFPB announced this week a proposed rule that would allow it to oversee about 38 nonbank auto finance companies. The bureau also plans to release a new whitepaper which details the methodology it uses to determine the presence of discrimination in auto lending.

Tags: Auto Lending, CFPB, compliance, Consumer Financial Protection Bureau

September 17, 2014 - Industry News

Flick Fusion Introduces Video Marketing Tool

The company’s Timeline Marketing tool allows dealers to quickly create banners and overlays for both new videos and existing videos on the Internet, then publish them to the dealership’s website, YouTube, third-party inventory sites and more.

Tags: Flick Fusion, social media, social media marketing, Video Advertising, YouTube

September 17, 2014 - Industry News

StoneEagle Announces Strategic Alliance With JM&A Group

JM&A Group has implemented StoneEagle’s SEcureMetrics F&I and sales reporting platform in more than 1,000 of its performing dealerships.

Tags: F&I products, JM&A Group, StoneEagle Group

September 16, 2014 - Industry News

Biweekly Payment Provider Bulks Up Compliance Practices

USEA implements code of ethics and a certification test for its dealership partners. The move comes more than three months after the NADA notified members that the FTC was investigating biweekly payment programs.

Tags: biweekly payment, CFPB, FTC

September 16, 2014 - Industry News

Northwood University, EFG Companies Partner

Under the new partnership, the two organizations will develop specialized continuing education programs, conduct joint industry research, and cross-publish content.

Tags: EFG Companies, Northwood University, training

September 16, 2014 - Industry News

Court Rules Yelp Can Manipulate Business Ratings

Photo Credit: <a href="https://www.flickr.com/photos/57009135@N00/8246725201/">planetc1</a> via <a href="http://compfight.com">Compfight</a> <a href="https://creativecommons.org/licenses/by-sa/2.0/">cc</a>

This month, the Ninth U.S. Circuit Court of Appeals upheld a lower court’s ruling that dismissed a proposed class-action lawsuit against Yelp. The suit claimed the company extorts advertising dollars from businesses in exchange for good reviews, a practice the federal court said is not illegal.

Tags: advertising on Yelp.com, Lawsuit, online advertising, Yelp, Yelp reviews

September 16, 2014 - Industry News

Hudson Cook Adds Former CFPB Enforcement Deputy as Partner

Hudson Cook LLP's Lucy Morris

Hudson Cook adds another former CFPB official to its offices in Washington, D.C., in Lucy Morris. She was a founding member of the implementation team that organized the CFPB after passage of the Dodd-Frank Act.

Tags: CFPB, Hudson Cook LLP, Lucy Morris

September 16, 2014 - Industry News

Bill to Rescind CFPB Auto 'Guidance' Gains Support in Congress

More than 400 dealers traveled to the nation’s capital in support of a new bill that could nullify the CFPB’s guidance on auto lending.

Tags: CFPB, HR 4811, NADA