A new study by the identity-theft think tank, Ponemon Institute, finds that data security compliance actually reduces long-term expenses. This conclusion may be particularly appropriate in the auto industry since another study (the Javelin…
New Credit Card Scam Making the Rounds
A new credit card scam is making the rounds and has already victimized auto dealers in the Southeast. Here’s the way it works: A customer comes in to your store to buy a vehicle…
Dealer Slammed with Numerous Compliance Violations
A Michigan consumer had a sordid story to tell the Court. Count the compliance violations and then read on to see how real life compliance violations can cost you in a big way. The…
Class action lawsuit issued against dealership for rate markups and document fees
The Arkansas Supreme Court has not been a friend of auto dealers recently and a decision handed down on April 14, 2011 against a dealership group confirmed very clearly that Arkansas is not where…
Child ID theft on the rise
Originally published April 1, 2011, on msnbc.com: Child ID theft, among the more tragic and vexing 21st Century crimes, is much more common than previously thought, suggests a report being published Friday by a Carnegie Mellon…
Coming soon: new adverse action notice requirements
An important change to dealer adverse action notices is coming on July 21, 2011. As you know, dealers are required by the Equal Credit Opportunity Act and Fed Regulation B (ECOA) and the Fair…
Holy chargeback, Batman! Ford dealer has to unwind 1,500 car deals
Originally published February 22, 2011, on Dealersedge.com: Unwinding car deals is a painful, if infrequent, fact of life for car dealers. When a customer is seriously dissatisfied, sometimes taking the vehicle back and refunding the…
Free Risk-Based Pricing notice fulfillment available on Dealertrack
Strati Papageorge, director of product management for Dealertrack, discusses free Risk-Based Pricing functionality available for dealers to help comply with the FTC regulation.
Customer education isn’t a bad thing
It might seem like just another regulation targeting dealer-arranged financing, but Greg Arroyo, executive editor at F&I and Showroom magazine, believes the Risk-Based Pricing Rule might be the kind of icebreaker F&I managers have been…
