Justice Department Files Amicus Brief Against CFPB
F&I Magazine Top News
Week of March 20, 2017
Top 5 News
1. Justice Department Files Amicus Brief Against CFPB
In an amicus brief filed last Friday, the Justice Department called on the D.C. Circuit Court to uphold the appellate court's 2-1 ruling in a New Jersey-based mortgage company's closely-watched challenge of the CFPB's authority. The agency says it agrees with the court's unconstitutional ruling and 'at-will' remedy.
2. CFPB Fines Experian $3 Million for Deceiving Consumers About Credit Scores
The Consumer Financial Protection Bureau took action against Experian and its subsidiaries for falsely claiming in advertisements that credit scores it offers and provides to consumers are used by finance sources to make credit decisions.
3. Dent Zone’s Snowden Earns Lifetime Achievement Award
Jeff Snowden’s 25-year career as a technician, advocate and executive in the paintless dent repair industry was recognized at the 2017 International Mobile Tech Expo.
4. Sage to Pay $3.6 Million to Settle FTC Charges
The nine-store, Los Angeles-based Sage Automotive Group will pay $3.6 million to settle charges of deceptive and unfair sales and financing tactics, including yo-yo financing and payment packing.
5. Podium Partners With CDK Global
More than 27,000 retail locations will have access to Podium’s automated online reputation management solution.
Top 5 Articles
1. 5 Ways Trump Can Alter Finance
Auto dealer regulations face an uncertain future under the Trump presidency. Two California-based attorneys take a look at the road ahead for the CFPB, the FTC, and state regulators.
2. Rising GAP Claims Reveal Troubling Trends
GAP rates are on the rise. Insiders say dealers should welcome the increases, adding that the performance of this core F&I product points to a severe slowdown in the next 24 months.
3. 5 Habits of Highly Successful Sales Professionals
Sales trainer reviews the five fundamentals that separate mediocre salespeople from the true professionals.
4. The Big Difference: Statements vs. Objections
F&I trainer explains why handling statements like objections can put customers on the defensive and cost you the opportunity to illustrate the benefits of protection products.
5. Remote Deliveries: Proceed With Caution
When it comes to out-of-state deliveries, the magazine’s resident compliance guru says proceed with caution. He lays out a simple process for guarding your dealership against ID thieves.

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