Adverse Action Notices: F&I Compliance Tip

by Dealertrack Staff on April 12, 2018

An “adverse action” is, basically, a refusal to grant credit, the termination of an account, or the changing of an account’s terms in a manner unfavorable to the consumer — such as unwinding a spot delivery contract. Why it Matters As creditors, dealers are required to give adverse action notices to consumers in th...

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Dealertrack Cuts the Ribbon on New Headquarters

by Dealertrack on June 22, 2017

In a word: Amazing. Awe-inspiring amazement, in fact, from the confident way our new home stands above New Hyde Park Road to how it symbolizes the strength of the brand and our principles of innovation and community.Confidence. Innovation. Community. That's Dealertrack, and amazing is about the only word that describes our new HQ. After...

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2017 Compliance Guide: What’s Next for Auto Dealers

by Dealertrack on February 10, 2017

Establishing a culture of compliance, data security, transparency, and honesty with customers is critical to protecting your dealership.Just as it was in 2016, this year government agencies are likely to focus on auto finance – though there’s some uncertainty about the approach a Trump Administration will take. For example, the CFPB...

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Three Questions to Ask About F&I Compliance Technology

by Dealertrack on December 29, 2016

The power of automotive retail technology is, in part, about connecting steps in the buyer’s journey to make the process more efficient.But it also handles other, crucial aspects, such as ensuring compliance with government regulations and providing protection against ID fraud. That’s important, and as such it’s vital to make sure...

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F&I Compliance Tip: Recordkeeping and the Destruction of Records

by Dealertrack on December 8, 2016

Staying compliant with State and Federal regulations means more than Red Flags and Adverse Action notices.In fact, there are federal laws and regulations regarding company records around vehicle sales, leases, F&I documents, and more. That includes things like memos, emails, a contract, or something less obvious such as a compu...

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Five Questions to Ask About Your Compliance Program

by Dealertrack on October 14, 2016

Some may say that the cost of compliance comes with the reality of doing business. That it's just a fact of life. And while that may be true, according to The Center for Automotive Research (CAR) that expense is pretty high. In a 2014 study conducted for the National Automobile Dealers Association (NADA), CAR found that the average dea...

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