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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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.
Mick Mulvaney speaking at an event in Washington, D.C. (Photo by Gage Skidmore) Two’s a Crowd: Battle for Control of CFPB Heads to Court
Staffers with the CFPB returned from the Thanksgiving break on Monday to two acting directors, a lawsuit, dueling emails, and a bag of doughnuts.
Cordray Tells CFPB Staffers He Is Stepping Down
In an employee email obtained by F&I and Showroom, CFPB Director Richard Cordray announced he will leave his post by the end of November.
Bloomberg: Senate Banking Chair Closing In on Bipartisan Dodd-Frank Rollback
Republican Senator Mike Crapo (R-Idaho) told reporters on Wednesday he’s getting closer to brokering a deal on bipartisan legislation aimed at rolling back parts of the Dodd-Frank Act.
Norm Reeves Dealerships to Pay $1.4 Million for Violating 2014 FTC Order
The Southern California-based dealer group was charged with violating a 2014 administrative order prohibiting it from misrepresenting in advertisements how much consumers could pay to finance or lease a vehicle.
Pence Casts Tiebreaking Vote to Kill CFPB's Arbitration Rule
The vice president cast his tiebreaking vote late Tuesday night. The measure now heads to President Trump's desk, where it is likely to be signed. Once it does, not only will the CFPB's arbitration rule be invalidated, the bureau won't be allowed to issue a similar rule unless authorized to do so in a subsequent law.
Consumer Advocacy Group Calls for Regulatory Review of F&I Product Pricing
The National Consumer Law Center is calling on lawmakers and regulators to investigate how dealers price F&I protections, claiming that an analysis of approximately 1.8 million vehicle transactions revealed inconsistent and discriminatory price markups over a span of six years.