New Law Means Updates to AFIP Courses

Heather M. Barnett

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The Fair Isaac Corp. is making some changes to the way it calculates FICO scores (which could make it easier for some consumers to buy cars). And as we reported in July, the Dodd-Frank Wall Street Reform & Consumer Protection Act is now law. In the coming months, this may mean big changes to the way dealers, lenders and vendors do business.

There isn't much information about the how the new Dodd-Frank Act will be enforced by the Bureau of Consumer Financial Protection or how it will affect dealers. What is clear is that the government expects changes that will protect American consumers from unscrupulous or illegal practices.

The AFIP Certification Program was designed in 1989 by industry leaders from dealer groups, captive and institutional lenders and aftermarket product providers to give dealership F&I personnel and lender and vendor field representatives educational tools to help them better understand the laws they must follow and to design an industry-based code of ethics to guide AFIP Certified F&I professionals in their daily activities with customers and peers.

In its continuing efforts to educate industry professionals, AFIP will make changes to its course material as more information is known. Those who order Basic or Senior Courses after the materials are available will get the updates with their course. Those who have already become certified or who ordered the AFIP material prior to the changes will receive hardcopy (charges may apply) or email updates (previously certified members must order the updated material).*

To ensure you receive the latest updates as they happen, sign up for the AFIP newsletter. As materials are available, notifications will be posted on the website and/or in the AFIP newsletter. If you receive notification that the materials are available, but don't receive your copy within six weeks, please contact AFIP.




* AFIP makes additional materials available to its members as a courtesy. It is your responsibility as an AFIP Certified F&I professional to stay updated on new laws and changes in existing laws. Those with expired certifications may be required to move up to the next level to qualify for the updates.

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The regulatory knowledge and ethical standards that comprise it make the AFIP Certification Program the preferred defense for prevention-conscious dealers.

For more information on the AFIP Certification Program or for marketing copies of this article, contact AFIP at 817.428.2434.