Ensuring legal compliance in every aspect of your car dealership operations is crucial. Among the many regulatory requirements, issuing Adverse Action Notices is particularly vital. This isn’t just a legal necessity but a cornerstone…
The Financial Impact of Non-Compliance
There’s a reason that compliance looms large for auto dealers – and it has everything to do with the bottom line. Failing to establish and follow consistent compliance practices can cost a dealership in…
Data Safeguards & Identity Theft Protection: F&I Compliance Tip
Identity theft and data breaches continue to be a serious and ongoing issue for consumers and businesses. In fact, according to the U.S. Department of Justice, about 9% of U.S. residents age 16 or…
7 Features Your Compliance Software Should Have
With the constant threat of audits, fines and lawsuits, every dealership must take compliance seriously. Fortunately, there are cost savings to be found in integrating finance and sales flow compliance functions. Here are seven…
Don’t Play “Hot Potato” With Adverse Action Notices
As much as your dealership would like to be able to sell to every customer, sometimes it doesn’t work out. Maybe a customer was credit-challenged, so you decided not to send their application to…
F&I Compliance Tip: Red Flags Rule
Designed to prevent your dealership from becoming a victim of identity fraud, the “Red Flags Rule” requires your dealership to develop and implement a program to detect, prevent, and mitigate identity theft.
3 Things to Know About Risk-Based Pricing Notices
Many of your dealership’s compliance responsibilities are designed to inform and protect consumers as they make financial decisions. That is definitely the case for the Federal Trade Commission’s Risk-Based Pricing Rule of the Fair…
Stranger Danger: Why Identity Verification is Important for Compliance
In 2022 alone, the Federal Trade Commission received more than 1.1 million reports of identity theft and more than 2.3 million reports of fraud. Legislators and consumer protection agencies are well aware of the…
The F&I Compliance Landscape for Dealers in 2021
As the automotive industry continues to adjust to the “new normal” spurred by the pandemic and the technology improvements that have helped keep business moving, here are some aspects of deal compliance that dealerships…
Fresh Insights at the Cox Automotive Experience
The first ever Cox Automotive Experience kicked off this week and included the debut of six videos packed with actionable insights from our F&I and Registration and Title teams. We invite you to set…
Staying Compliant While Working Remotely
Staying Compliant While Working Remotely The rapidly changing circumstances around the COVID-19 pandemic forced dealerships to adapt quickly. In areas where shelter-in-place or stay-at-home orders led to closed showrooms, some dealership personnel even relocated…
5 Compliance Tips for F&I Selling
As dealerships look for ways to counter shrinking profit margins, F&I product sales are one of the revenue sources they turn to. Cox Automotive 2022 Car Buyer Journey research shows that 67% of car…
