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Legislation regulating the influence captive finance sources have on F&I product sales has popped up around the nation this year, but the industry disagrees on what is driving these state-by-state battles.
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In a regulatory filing Thursday, Santander Consumer USA disclosed that it has received a civil subpoena from the U.S. Department of Justice requesting documents related to subprime auto lending. Earlier in the week, GM Financial filed a similar report.
Read More →The city’s Consumer Affairs Department is warning dealers it will issue violations or revoke their licenses to operate if they do not notify consumers who purchased vehicle with unrepaired recall issues.
Read More →In a Securities and Exchange Commission filing this week, GM Financial revealed that it was served with a subpoena by the U.S. Department of Justice. It is requesting documents related to the origination and securitization of subprime auto loan contracts dating back to 2007.
Read More →Automotive Compliance Consultants warned dealers this week to review their arbitration clauses in their finance contracts. The firm says such language is coming under scrutiny from courts and regulators.
Read More →An investigation found that South Auto Sales required consumers financing their vehicle purchase to sign a preprinted repossession waiver that violated state law.
Read More →RouteOne attorney Joseph Karam and National Business Development Manager Jesse Pappas will discuss the forthcoming scrutiny of F&I products by the CFPB and the FTC during a webinar on July 23.
Read More →Gerry Gould returns to the magazine’s annual conference to lead a workshop on maximizing cash and lease deals in the F&I office. He’ll offer product recommendations, break down ideal menu configurations and will cover key word-tracks and responses to common customer objections.
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Almost a month after launching a campaign critical of rate markups, Space Coast Credit Union has pulled all ads and associated videos. The campaign had compared rate markups to a restaurant charging customers more for food based on arbitrary physical features.
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Attorney Vince Megna celebrated the $126,836 settlement he reached with Tesla on behalf of a Wisconsin man by posting a humorous video to his YouTube channel. It was the first lemon law case brought against the electric-vehicle maker.
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