Major Developments Make NABD Orlando a Must Attend
October 20th, 2016 by crosbyru
Major Developments Make NABD Orlando a Must Attend By Nick Zulovich Senior Editor HOUSTON – It was just a little more than four months ago that the National Alliance of Buy-Here, Pay-Here Dealers hosted its annual convention in Las Vegas. However, Ken Shilson emphasized that two ...
Dealer Advice Following Court Action Against CFPB
October 18th, 2016 by crosbyru
Automotive Compliance Consultants urges dealers to stay vigilant despite action against CFPB CRYSTAL LAKE, Ill. — Automotive Compliance Consultants advised dealerships to remain vigilant and attentive to consumer business practices even though the U.S. Court of Appeals recently ruled the leadership structure of the Consumer Financial ...
How ‘Furnishers’ Can Avoid Trouble with the Feds
July 24th, 2015 by crosbyru
The Consumer Financial Protection Bureau is targeting violations of strict rules for so-called “furnishers,” including auto lenders, plus in many cases their vendors, and potentially some independent dealers and buy-here, pay-here dealers, assuming they all furnish consumers’ nonpublic personal information to credit reporting bureaus. For instance ...
NIADA announces 5 scholarship winners
June 26th, 2015 by crosbyru
NIADA announces 5 scholarship winners LAS VEGAS — The National Independent Automobile Dealers Association announced the recipients of the organization’s 2015 Scholarship Awards at the 69th Annual NIADA Convention and Expo at Caesars Palace in Las Vegas. The NIADA Foundation, each year, sponsors a student in ...
Transporters Team Up
June 13th, 2015 by crosbyru
Transporters Team Up ShipCarsNow and Ready Auto Transport are joining forces to provide multi-modal transportation to vehicle shippers. This combination of truck and rail service will increase carrier capacity and create transportation efficiencies for U.S. Manheim auto auction customers and other wholesale vehicle shippers. You can ...
FTC cracks down on dealer advertising
March 28th, 2015 by crosbyru
FTC Gets Tough On Car Dealer Scams – Southwest Florida … http://swflorida.blogspot.com/ Thu, 26 Mar 2015 14:19:27 -0700 For the first time since receiving expanded authority over auto dealers under the Dodd-Frank Act, the FTC has taken two auto enforcement actions involving add-ons, which is the ...
FBI Offers Reward for Fugitive Dealer
March 21st, 2015 by crosbyru
NEWARK, N.J. — The FBI is offering a reward of $20,000 for information leading to the arrest of a luxury car dealer accused of defrauding customers and lenders. More than 75 people have filed complaints against Afzal “Bobby” Khan, who has reportedly fled the country, the ...
Auto Finance Reaches All-Time High
February 20th, 2015 by crosbyru
The total outstanding balance on open automotive loans continued to rise in the fourth quarter of 2014, reaching an all-time high of $886 billion, according to Experian Automotive. According to its latest State of the Automotive Finance Market report, the volume of open loans increased across ...
State Indicts Dealer for Deceptive Practices
February 19th, 2015 by crosbyru
A South Dakota used-car dealer has been indicted on charges of engaging in deceptive business transactions surrounding the selling and buying of a vehicle. Joseph Matthew Stanford, owner of Moto Joes in Brandon, S.D., was indicted on one count of grand theft by deception, class 4 ...
Experian: Outstanding Balances Hit $886B
February 19th, 2015 by crosbyru
SCHAUMBURG, Ill. — Experian Automotive found that the total outstanding balance on open automotive loans hit an all-time high during the fourth quarter, but subprime contracts constituted a smaller part of the figure. That all-time high figure climbed to $886 billion.