Article Archive

As many of you have likely already heard, the FTC has yet again extended its enforcement of the Red Flags Rule until December 31, 2010. We'd like to take this opportunity to remind you that, according to the FTC's website, the Red Flags Rule is still in force and can be enforced by any other relevant agency and possibly at the state level as an Unfair & Deceptive Act or Practice claim.....

Yielding to congressional pressure, the FTC has again delayed its enforcement of the Red Flags Rule until June 1, 2010, placing thousands of car dealers in jeopardy. The reality is, the FTC’s lack of enforcement doesn’t change the fact that dealers should have been Red Flags compliant since November 1, 2008....

As the 21st Century begins, cases of identity theft are rising rapidly. Consumers must protect themselves from this – the fastest-growing crime in the U.S. Throughout the years, establishments of all kinds have taken it upon themselves to protect their customers’ nonpublic information in any way possible...

The combination of the current economic conditions and the modern litigious environment makes paying close attention to regulatory compliance and best practices a must for dealers across the US.

The Seven Deadly Sins of F&I are the seven most common errors that cause dealers to become the targets of media exposes, class-action lawsuits, and high-dollar regulatory fines...

Next to, “Did I get approved?” the second most common question customers ask is “Is this the best rate available?” Simply put, the word best cannot be used when discussing the installment sale finance charge or lease money factor with a customer. . .