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December 14, 2017
11:00AM - 12:00PM
How Do Your Dealership's Add-Ons Add Up?
OADA Webinar
Earlier this year, the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC) confirmed that they are looking closely at transactions involving the sale of ancillary products. They are specifically looking at how and when products are offered to consumers, what and how disclosures are being provided, and product acceptance rates. Less than six months later, in October, a consumer advocacy group released a report claiming that dealer discretion is driving “excessive, arbitrary and discriminatory” pricing and asked that federal and state regulators also review product pricing. So, when was the last time you took a look at the products and procedures associated with your F & I Department?
As with many legal and business issues that arise in the motor vehicle industry, staying on top of the most recent developments can seem like an overwhelming task. Not understanding them, however, can result in costly mistakes! Please join OADA and our guest speaker, Deanna Stockamp from the law firm of Stockamp & Brown, LLC, as we focus on what you need to know about the latest round of scrutiny concerning the sale of ancillary products, including:
- CFPB examination procedures, consent orders and advisory bulletins;
- Recent FTC and AG actions;
- Lender obligations and efforts to shift potential liability;
- Possible pitfalls of relying solely on F & I providers for training and compliance reviews;
- The National Consumer Law Center’s findings, conclusions and recommendations;
- Potential consumer claims; and
- F & I policies and procedures every dealer should consider.
Adapting to the current regulatory environment and mitigating risks associated with the sale of F& I add-ons means dealers must actively participate in product and provider section, product pricing, and oversight of the presentation and sales processes. This webinar is perfect for Dealers, General Managers, Sales and F & I personnel, and Office Managers interested in the latest developments in the area of F & I compliance. Register today for our December 14 webinar, scheduled from 11 a.m. to noon.
There is a $20 connection fee for OADA members, and a $50 connection fee for non-members.
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12/14/2017 11:00 AM
12/14/2017 12:00 PM
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How Do Your Dealership's Add-Ons Add Up?
Register Here!
Earlier this year, the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC) confirmed that they are looking closely at transactions involving the sale of ancillary products. They are specifically looking at how and when products are offered to consumers, what and how disclosures are being provided, and product acceptance rates. Less than six months later, in October, a consumer advocacy group released a report claiming that dealer discretion is driving “excessive, arbitrary and discriminatory” pricing and asked that federal and state regulators also review product pricing. So, when was the last time you took a look at the products and procedures associated with your F & I Department?
As with many legal and business issues that arise in the motor vehicle industry, staying on top of the most recent developments can seem like an overwhelming task. Not understanding them, however, can result in costly mistakes! Please join OADA and our guest speaker, Deanna Stockamp from the law firm of Stockamp & Brown, LLC, as we focus on what you need to know about the latest round of scrutiny concerning the sale of ancillary products, including:
CFPB examination procedures, consent orders and advisory bulletins;
Recent FTC and AG actions;
Lender obligations and efforts to shift potential liability;
Possible pitfalls of relying solely on F & I providers for training and compliance reviews;
The National Consumer Law Center’s findings, conclusions and recommendations;
Potential consumer claims; and
F & I policies and procedures every dealer should consider.
Adapting to the current regulatory environment and mitigating risks associated with the sale of F& I add-ons means dealers must actively participate in product and provider section, product pricing, and oversight of the presentation and sales processes. This webinar is perfect for Dealers, General Managers, Sales and F & I personnel, and Office Managers interested in the latest developments in the area of F & I compliance. Register today for our December 14 webinar, scheduled from 11 a.m. to noon.
There is a $20 connection fee for OADA members, and a $50 connection fee for non-members.
Register Here!
OADA Webinar