Month: September 2017
Eric Johnson from our partners at Hudson Cook stopped by to talk about what happened on July 19, when the Consumer Financial Protection Bureau (CFPB) published a new arbitration rule (Rule) that would ban companies (or “Providers” in the Rule) from using pre-dispute arbitration agreements to prohibit consumers from seeking class relief in a court. […]
In the face of growing regulations and rapidly changing business needs, automobile dealerships are spending more time and energy than ever managing workforce compliance and employee engagement. But who says the two needs are mutually exclusive? Next month, we’re hosting a webinar all about how your dealership can create a culture of compliance without sending […]
Audit. Yuck. Along with “bankruptcy,” “lawsuit,” and “cyberattack,” “audit” is one of those words that can instantly raise a consumer finance executive’s blood pressure. Even if the thought of an audit doesn’t cause agita or insomnia, it tends to elicit a grimace. No one wants to undergo an audit. At best, it takes away precious […]
Audits—what are they good for? A lot, actually. As we learned in the CMS Blueprint, an internal audit can serve numerous, critical strategic purposes for your organization. Audits reveal areas of legal risk due to inefficient business processes, security vulnerabilities, and lack of executive attention. But. An organization conducting an audit will likely discover at […]
Let’s take a look at your dealership’s Compliance Program…a good close look. My guess is there are a host of issues that are slowly draining the life out of it. Taken individually, they’re mundane enough to want to hit the snooze button. “I’ll take care of this after I put out this fire…after I get […]
The leaves are changing color, the sun is setting earlier, the air is growing colder, and things are generally feeling, um, a little spookier than usual. It’s almost October again, that time of year when the boundaries start to blur—between day and night, between growth and decay, between our world and the world that lies […]
Throughout this 7-part series, we’ve looked at more than 30 federal rules and regulations across an automotive dealership’s departments. What we’ve learned is that running a dealership takes knowledge beyond the latest models and specs. Every successful automotive dealership is comprised of professionals with expertise not only in sales and service, but workforce compliance.
Michael Benoit from our partners at Hudson Cook stopped by to tell us a bedtime story about Mrs. Bailey and the Fair Debt Collection Practices Act. Long long ago on June 12, the U.S. Supreme Court settled a question about the status of debt buyers under the Fair Debt Collection Practices Act that has been the […]
Health insurance, gas, the latest iPhone model—the price of everything increases every year. And so too do consumer credit transaction thresholds.