by Allen Monello | Dec 28, 2020 | Dealer Compliance, Title
FAST FACTS The following changes have taken effect regarding federal and state odometer disclosure requirements: Odometer Disclosures may be signed electronically. Odometer Rule Changes Disclosure Exemption from 10 to 20 years. NOTICE: The information below was...
by Allen Monello | Sep 6, 2018 | Dealer Compliance, Finance
FAST FACTS A creditor may not impose on a borrower a “military annual percentage rate (MAPR)” that’s greater than 36 percent. The MAPR is defined differently than the APR we are familiar with. The MAPR “includes all cost elements associated with the extension of...
by Allen Monello | Apr 26, 2018 | Dealer Compliance, Title
FAST FACTS The number of dealer plates that may be purchased must be reflected in your Garage Liability Insurance (GLI) certificate. Updates to your GLI certificate regarding the number of dealer plates that your insurance authorizes you to purchase must be submitted...
by Allen Monello | Sep 20, 2017 | Dealer Compliance, Sales
FAST FACTS Dealers are required to complete many forms in a deal, beyond title and registration forms. Although not all of these forms are required, they are commonly used in the industry to protect dealers and customers. The following list is not exhaustive....
by Allen Monello | Aug 10, 2017 | Dealer Compliance, Dealer Participation (Markup), Finance
NOTICE: The information below was obtained directly from the Consumer Financial Protection Bureau’s (CFPB) Paper on the Equal Credit Opportunity Act (ECOA) and Regulation B FAST FACTS Dealers’ policy for setting the amount earned for arranging financing...
