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Compliance

ArticlesFebruary 5, 2016

Measuring Up

AutoNation's $1,500 per-copy claim was a great achievement, but one industry vet warns F&I pros against using it as a benchmark for F&I success.

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NewsFebruary 4, 2016

AFIP Online Training Now on LightSpeed

The Association of Finance & Insurance Professionals has partnered with LightSpeed, an interactive virtual training system provider, to host its online certification program

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Newsby Gregory ArroyoFebruary 3, 2016

Toyota Motor Credit Agrees to Lower Markup Caps to Settle CFPB Allegations

The three-year standoff between Toyota Motor Credit, the Justice Department and the CFPB is over, with the captive agreeing to pay up to $21.9 million in restitution to minority borrowers the regulators allege were overcharged on their auto loans. The captive also agreed to lower its dealer markup caps.

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NewsFebruary 2, 2016

F&I Think Tank Adds Top Compliance Experts

Six of the industry’s top compliance experts will be at the Sheraton Tampa Riverwalk Hotel to lead a 20 Group-like session on compliance. Aside from fielding questions from attendees, the group will tackle some pervasive regulatory myths surrounding the F&I office.

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NewsFebruary 2, 2016

Auto/Mate Announces Integration With Scan123

Scan123’s electronic document management system is now integrated with Auto/Mate’s Automotive Productivity Management Suite DMS, allowing Scan123 users to store and access documents through Auto/Mate’s DMS.

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NewsFebruary 2, 2016

J.D. Power/LMC: Snow Storm Slows But Doesn’t Stop Car Sales in January

The two firms expect January total light-vehicle sales to total 1.1 million units, while the January SAAR is expected to have reached 16.8 million units. LMC Automotive said its sales forecast for 2016 remains at 17.8 million units.

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NewsJanuary 28, 2016

GM, Jim Koons and Lithia Settle FTC’s Complaints Regarding CPO Claims

The regulator said the three companies agreed to settle its charges that they failed to disclose that some certified pre-owned vehicles were subject to open and unrepaired safety recalls despite claims of rigorous inspections in advertisements.

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NewsJanuary 28, 2016

New York AG Charges Multi-Store Group With Payment Packing

Attorney General Eric Schneiderman filed suit last week against Koeppel Auto Group as part of its two-year crackdown on payment packing and the sale of credit repair and identify theft protection services.

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NewsJanuary 27, 2016

JM&A Group Celebrates Record Year, Announces Executive Promotions

According to company officials, 2015 was the best year in the F&I product provider’s 37-year history, as it sold more than 3.4 million contracts.

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NewsJanuary 27, 2016

700Credit’s Hill to Discuss FCRA at Dealer Summit

Dealer Summit organizers have announced that Kenneth Hill, managing director of 700Credit, has agreed to speak at the 2016 event, which will be held May 3–5 at the Sheraton Tampa Riverwalk Hotel.

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