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…

Old dance studios used to put on the floor large oil cloths, which had arrangements of footprints to demonstrate various dance steps. Follow the steps in time to the music with a little flair…

Randy Henrick, Dealertrack’s regulatory and compliance counsel, explains why dealers cannot rely on lenders to provide adverse action notices to customers.    

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…

Dealertrack compliance counsel, Randy Henrick, speaks about the consequences for dealer arbitration clauses that don’t give consumers choices

Strati Papageorge, director of product management for Dealertrack, discusses free Risk-Based Pricing functionality available for dealers to help comply with the FTC regulation.  

Originally published December 28, 2010, on Autonews.com: We’ve taken a look at how dealers must be careful about adding fees to the vehicle price because these processing fees are often regulated by the state.  However,…

Dealertrack compliance counsel, Randy Henrick, discusses data security measures dealers must have in place to avoid violations with the FTC.

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…