10 dos and don’ts for online credit apps

10 DOS AND DON?TS FOR ONLINE CREDIT APPS Before the Internet became a car sales tool, compliance with the Fair Credit Reporting Act was clear cut: With the customer in the showroom, getting written authorization to pull a credit report is a no-brainer. That’s not true today. Finance managers and sales managers might run a […]

CLASS ACTION LAWSUIT TRAPS

CLASS ACTION LAWSUIT TRAPS With class action lawsuits, a minor oversight repeated across multiple customers can easily grow into a big source of risk and cost. Here are 8 areas with the most frequent and severe claims: ? Truth in Lending Act (TILA): Effective July 21st, the dollar threshold for consumer credit and lease transactions […]

DEALERSHIP WORST PRACTICES by Thomas Hudson

DEALERSHIP WORST PRACTICES BY THOMAS HUDSON You hear the phrase ?best practices? at conferences and 20 Group meetings to describe things that dealers do that go beyond mere compliance with the law. For instance, most dealers, as a ?best practice,? will get the customer to sign an authorization to pull a credit report even when […]