The Year of Enforcement Continues

The CFPB’s First Enforcement Action and Its Implication for Auto Dealers The Consumer Financial Protection Bureau (“CFPB”) entered into its first enforcement action consent decree with Capital One Bank ordering Capital One to pay…

Compliance Definition of the Week

UDAPs – (Unfair and Deceptive Acts and Practices laws) – Includes FTC Act Section 5 and similar state laws used frequently by the FTC and state Attorneys General to correct and obtain damages for consumer…

CFPB Begins Taking Tips from Whistleblowers

The Consumer Financial Protection Bureau is soliciting information from whistleblowers and other knowledgeable sources about potential violators of federal consumer financial laws. The CFPB is welcoming information from current or former employees, contractors, vendors,…

The Impact of OFAC on Dealers

Hopefully you know that you must “run an OFAC” on every customer you do business with, both cash and credit customers. But what exactly is OFAC and what does “running an OFAC” mean?  What…

DealerTrack Introduces a $25,000 Red Flags Guarantee

DealerTrack is excited to announce the rollout of an unprecedented $25,000 Red Flags Guarantee to current and new subscribers of the DealerTrack Compliance Solution. The new Red Flags Guarantee will cover associated government-issued fines up to…