What are your binders really binding you to? You may already know that a compliance program contained in dusty binders is about as effective as no compliance program at all. But according to Michael Semanie, an attorney with Killgore, Pearlman, Stamp, Denius & Squires, P.A, that old-fashioned method of managing and tracking compliance is not […]
Among all the talk about a looming government shutdown, you may have missed another federal shutdown, which happened earlier this month.
Back in January, no one really knew what to expect from 2017. Now, it’s nearly September, and most of us feel just as lost—if not more lost—than we felt 9 months ago.
Salespeople get a lot of the glory, but much of the real credit (pun intended) should go to finance and insurance. A customer’s trust in an automotive dealership often stems from their interaction with the F&I department. Indeed, F&I team members are the ones who ensure customers leave happy, the business maximizes its profit, and […]
Millennials, just like any generation, have a unique set of skills and expectations that are the result of the era they grew up in. This infographic helps you understand these traits and other benefits of hiring millennials as they are already a significant portion of today’s workforce and the numbers are only growing.
Last week, we gave you an overview of three common learning styles. As our infographic explained, some people learn visually, others learn through auditory means, and still others figure things out kinesthetically—by doing. People are diverse not just in terms of what they look and sound like, but how they take in and process information.
You already know what happens when you assume. (Or at least I’m assuming you do—so what does that make me?) In terms of fair lending compliance, however, there’s a much greater price to assumption: a Consumer Financial Protection Bureau enforcement action.
No other part of a dealership can compare to the service department in terms of moving parts. I mean that both figuratively and literally. For as many nuts, bolts, pistons, panels, plugs, and springs your service team handles, there’s an almost equal amount of rules and regulations to follow.
Quiz time! For each of the roles and responsibilities listed below, ask yourself: “Is this a compliance or human resources issue?”
The next time you eat alphabet soup, try looking for the names of fair lending regulatory agencies. It’s surprisingly easy to find them—any random non-word has an inordinate chance of spelling out a federal acronym.
Send this to friend
