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Tag Archives: Regulatory Compliance
Guest Article Jim Ragodna: Compliance vs. Ethics: The Lines are Getting Blurry in the Car Business
By Jim Ragodna. Ethics and compliance are different from each other, but both are vitally important to the long-term success of dealerships and automotive professionals. Often the terms “unethical” and “illegal” are used interchangeably. Ethics is personal – it means … Continue reading
Guest Contributor Jim Radogna: F&I Fact vs. Fiction
By Jim Radogna. It’s not uncommon for me to be asked to weigh in on the occasional compliance conundrum posed on some social media forum. Many such inquiries involve disagreements about long-held beliefs in F&I and whether or not they’re … Continue reading
Guest Contributor Jim Radogna: Dealer Fees Under Attack
By Jim Radogna. Two recent actions for alleged dealer fee violations in South Carolina and Indiana are a potential cause for concern in other states due to the likelihood of copycat legal actions. While these states had no caps on … Continue reading
Why do Auto Dealers Purchase Limited Truth in Lending Coverage?
By Greg Johnson. Why do dealerships keep purchasing statutory errors and omissions coverage that is not likely to protect the dealership if it is sued by a customer for truth in lending violations? I’ve been handling dealership insurance coverage disputes … Continue reading
Protecting the Dealership’s “Front-End” and “Back-End”: What Does that Mean?
By Greg Johnson. Everyone in the retail automobile industry is familiar with the terms “front-end” and “back-end.” They represent two sources of potential revenue (and, hopefully, profit) for auto dealerships: The “front-end” refers to revenue realized on the sale of … Continue reading
Posted in ADCF Policy, Auto Dealer, Coverage, Duty to Defend, Duty to Indemnify, Truth in Lending Coverage
Tagged Acts Errors and Omissions Coverage, Auto Dealers Coverage, Auto Dealers Operations, Auto Dealerships, Consumer Protection Statutes, Duty to Defend, Regulatory Compliance, Truth in Lending
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Minnesota Dealership and Lenders Prevail in Fair Credit Reporting Act Litigation
By Greg Johnson. Can an auto dealership be liable for damages when it transmits a customer’s credit application to several financial institutions through an automated on-line credit application system and the financial institutions pulls the customer’s credit report without express … Continue reading
Dealership Arranged Financing: The Indirect Auto Lending Process
By Greg Johnson. This article addresses the indirect auto lending process (a/k/a “dealer arranged financing”). While the article relies heavily on cases I have defended for dealerships here in Minnesota, the same process is involved across the nation. In Minnesota, … Continue reading
Auto Dealer Risk Management: Negotiating Dealer-Lender Agreement Terms
By Greg Johnson. Car sales are booming and lenders are clamoring for indirect financing business. Now is a great time for dealers to dust off and review their Dealer Agreement (a/k/a lender master financing agreements) with lenders, particularly the warranty, … Continue reading
Auto Dealers & Regulatory Compliance: If the FTC Comes Knocking
Dealerships have become subject to increased regulation and enforcement, particularly in the areas of consumer advertising, consumer finance and consumer privacy. I recently posted an article to this blog entitled: Auto Dealer Arranged Financing: 51 Laws a Dealer Must Know. … Continue reading
Auto Dealer Arranged Financing: 51 Laws Dealers Must Know
By Greg Johnson. It’s no secret that auto dealerships have become subject to increased regulation over the past several years, primarily in the areas of consumer advertising, consumer finance and consumer privacy. Although the recession of 2007-2009 was primarily related … Continue reading
AUTO DEALER + COVERAGE BUZZ 