Consumer Financial Protection BureauDealerships should adopt a standard reserve for legal protection, F&I experts say 6:00 pm U.S. ET | June 12, 2013 Dealerships should adopt a standard amount for dealer reserve as part of a detailed fair lending program to protect themselves from potential lawsuits driven by federal regulators' crack down on auto lenders, experts say.... Read More »
EDITORIAL Auto lending: Regulator must be reined in 12:01 am U.S. ET | June 3, 2013 Congress must rein in the Consumer Financial Protection Bureau, which has overstepped its mandate by squeezing banks and finance companies to limit dealership profits, apparently based on questionable assumptions of widespread discrimination in auto lending.... Read More »
House Democrats press credit bureau on bias data 12:01 am U.S. ET | June 3, 2013 The Consumer Financial Protection Bureau's dispute with dealers over alleged discrimination in auto lending has spilled over onto Capitol Hill.... Read More »
Report downplays car-loan abuses in U.S.military 12:01 am U.S. ET | June 3, 2013  For the past couple of years, federal authorities have accused car dealers of using shady lending practices in dealing with members of the U.S. military. Yet auto loans barely show up on a new Consumer Financial Protection Bureau report of complaints by military families.... Read More »
JIM HENRY Where are the beefs about auto loans? 12:01 am U.S. ET | May 29, 2013  With Memorial Day earlier this week, it's a good time to note that auto loans barely made the Consumer Financial Protection Bureau's list of common complaints for military families, despite an outcry from the bureau, the Federal Trade Commission and others over supposed dealer abuses.... Read More »
JIM HENRY Subprime scrutiny could open a real can of worms 12:01 am U.S. ET | May 8, 2013  Here's a disturbing thought: As much as the Consumer Financial Protection Bureau has upset auto lenders and dealers, it hasn't even gotten around to the vast category of subprime auto lending.... Read More »
U.S. consumer watchdog expands probe into auto financing, report says 6:54 am U.S. ET | May 3, 2013  The Consumer Financial Protection Bureau expanded its probe into the car loan industry by issuing subpoenas to auto lenders over the sale of financial products such as extended warranties, the Wall Street Journal reported, citing people familiar with the investigation.... Read More »
JIM HENRY Lots of chatter on CFPB and dealer reserve 12:01 am U.S. ET | April 10, 2013  The Consumer Financial Protection Bureau’s effort to cut dealer reserve is sparking a fair amount of online debate.... Read More »
JAMIE LaREAU Worried about the CFPB? Stay calm 12:01 am U.S. ET | April 3, 2013  Everyone stay calm. That's David Westcott's message to finance and insurance professionals, even though the chairman of the National Automobile Dealers Association admits he is very concerned.... Read More »
JIM HENRY Worried about the CFPB? You should be 12:01 am U.S. ET | April 3, 2013  Dealers and lenders are upset that the Consumer Financial Protection Bureau is demanding greater transparency from them, but isn't reciprocating.... Read More »
Auto loans prompt 1,585 complaints to new U.S. consumer watchdog 5:26 pm U.S. ET | March 28, 2013  The U.S. Consumer Financial Protection Bureau has received 1,585 complaints about vehicle financing since last March, according to data released by the agency today.... Read More »
JIM HENRY The CFPB's new, scary truth 12:01 am U.S. ET | March 27, 2013  Last week the Consumer Financial Protection Bureau and Director Richard Cordray threw cold water on a common notion among advocates for dealers and lenders: The CFPB doesn't understand how the business works and everything would be OK if the feds were just “educated.”... Read More »
JIM HENRY A little education can save a lot of complaining 12:01 am U.S. ET | March 6, 2013  It's easy to be cynical about this, but consumer education could ease the sting of tougher regulations that seem to be in the works for auto lenders and dealers.... Read More »
JIM HENRY Auto industry as boogeyman? Depends on your view 12:01 am U.S. ET | Feb. 27, 2013  The Federal Trade Commission's latest annual report of U.S. consumer complaints could be a good inkblot test for how people feel about auto finance.... Read More »
JIM HENRY F&I’s biggest boogeyman 12:01 am U.S. ET | Oct. 31, 2012  Halloween is a good time to inventory the monsters under the F&I bed. Shining a flashlight under there, we see that credit availability is good. Interest rates are low. The economy is slowly improving. Even housing seems finally to be recovering. No real monsters there.... Read More »
JIM HENRY A reason to cheer the CFPB 12:01 am U.S. ET | Oct. 3, 2012  The Consumer Financial Protection Bureau has given auto lenders a lot to worry about in the past year, though so far, its bark has been a lot worse than its bite.... Read More »
JIM HENRY Regulation threat keeps F&I'ers up at night 12:01 am U.S. ET | Sept. 19, 2012  Dealers and F&I vendors fretted about possible tougher regulations last week at an F&I conference.... Read More »
JIM HENRY A cautionary tale on lending to service members 12:01 am U.S. ET | Aug. 1, 2012  The U.S. Department of Justice has reached a $12 million settlement with Capital One Bank of a lawsuit alleging violations of the Servicemembers Civil Relief Act.... Read More »
JIM HENRY Phony service contract appeals hurt legitimate dealers 12:01 am U.S. ET | July 18, 2012  Unscrupulous direct-to-consumer marketers -- with their phony solicitations that tell consumers, “Your warranty is about to expire” -- hurt the extended-service-contracts market for everyone.... Read More »
JIM HENRY Fair warning for ID thieves 12:01 am U.S. ET | July 11, 2012  Customers usually don't mind proving their identity, but it helps if the F&I manager can point to a sign posted prominently in the dealership explaining that it's for their own protection, said Dave Robertson, executive director of the Association of Finance & Insurance Professionals.... Read More »
JIM HENRY Highlights turn out to be lowlights 12:01 am U.S. ET | July 3, 2012  Oops. It turns out that an idea touted as an F&I "best practice" may violate the federal Truth in Lending Act, not to mention be sexist and in poor taste.... Read More »
JIM HENRY Are dealers misbehaving, or are complaints ancient history? 12:01 am U.S. ET | June 27, 2012  Dealers and their advocates acknowledge that there are some problem dealerships. But some industry insiders are convinced there's an element of urban legend in some of the complaints that come up at public forums about payment packing, “yo-yo financing” and the like.... Read More »
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Special Report
 Dealer O.C. Welch's big-truck turnaroundAfter Mercury's demise, South Carolina Ford-Lincoln dealer O.C. Welch had to find a way to replace lost revenue. He decided to load up on Super Duty pickups – and sell them online. Mon., June 17» Watch the Video |
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Don Davis Dealerships, Inc. -- Lake Jackson, Texas, United States - Service Manager
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