May 18, 2024
Compliance News
Inspectors Find No Records at Vacant Property
Staff Writer
July 29, 2019
The Michigan Department of State has suspended the business license of a Flint vehicle dealer for noncompliance with the law. FYI Auto LLC, owned by Ira Chapman and Finis Harwell,…
NICB Warns of Barry-Flooded Cars
Staff Writer
July 24, 2019
Another hurricane, another warning about flood cars. The National Insurance Crime Bureau (NICB) is warning consumers that vehicles flooded by Tropical Storm Barry may soon be appearing for sale around…
The Consumer Financial Protection Bureau issued an updated advisory to financial institutions urging them to report to the appropriate local, state and federal authorities whenever they suspect that an older…
CFPB Offers Snapshot of Consumer Credit Reports
Staff Writer
July 22, 2019
The Consumer Financial Protection Bureau (Bureau) released a report that found more than one-in-four consumers with a credit report have at least one debt in collection by third-party debt collectors.…
There's one constant in all motor vehicle transactions - paperwork. The documents progress from the ones on the vehicle, like the Monroney sticker and the Buyers Guide, to DMV documents,…
Consumers Want to Keep Car Data Private
Staff Writer
June 26, 2019
Consumers don’t want their cars sharing their data. According to a survey of 1,403 current car shoppers on Autolist, 83 percent of current car shoppers believe that automakers and tech…
How Do You Compete When Other Dealers Cheat?
Thomas B. Hudson
June 17, 2019
Most car dealers I encounter try in good faith to follow the requirements of the many federal and state laws that regulate the business of selling, financing, and leasing vehicles…
The Consumer Financial Protection Bureau says its first symposium will be held on June 25, the first of a series announced earlier this year that will focus on the Dodd-Frank…
Auto Fraud Panel IDs Top Concerns
Staff Writer
June 13, 2019
Lenders identified their three biggest fraud concerns in 2019: credit washing, synthetic identity via Credit Protection Numbers, and fraud by dealers resulting in higher levels of first and early payment…
