Dealertrack Provides Analysis of the CFPB Indirect Auto Finance Guidance: Dealer Rate Participation is Not Going Away
Dealertrack’s Regulatory Counsel, Randy Henrick discusses his analysis of the CFPB’s Guidance on Indirect Auto Finance with Auto Remarketing in an April 25th online article. Randy states “We believe rate participation is not going to end, at least not any time soon”. He adds “Dealers always have discretion to send contracts to lenders they choose and where dealers send their contracts will have an important effect on the success or failure of any lenders who adopt flat-fee pricing.”
Dealertrack Technologies Confident Dealer Participation Will Remain Crucial F&I Income
Thu, 04/25/2013 – 01:56 | LAKE SUCCESS, N.Y
By SubPrime Auto Finance News Editor Nick Zulovich
When the Consumer Financial Protection Bureau issued guidance regarding the auto finance market in March, many legal observers and dealer principals saw it as a direct attack on dealer participation, a strong income driver for stores’ F&I revenue.
However, Dealertrack Technologies associate general counsel Randy Henrick attempted to quell fears that federal regulators were going to directly or indirectly make dealer participation a thing of the past.
Click here to read the full article
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