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 | 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...
by Allen Monello | Sep 8, 2014 | Dealer Compliance, Sales Tax, Sales Tax on Service Agreements
NOTICE: The information below was obtained directly from the Florida Department of Revenue (DOR) website. Links are provided so you may access the content on the DOR website. FAST FACTS When you sell a service agreement the amount of sales tax you must collect is as...
by Allen Monello | Jul 23, 2014 | Dealer Compliance, Finance
NOTICE: The information below was obtained directly from Florida Statutes and the Office of Insurance Regulation (OIR). Links are provided so you may access the statute and OIR website. FAST FACTS RV Dealers who wish to sell motor vehicle service agreements to their...
by Allen Monello | Jul 14, 2014 | Dealer Compliance, Finance, Finance License
NOTICE: The information below was obtained directly from the Office of Financial Regulation (OFR) website, Florida Statutes and Florida Administrative Code (Rule). Links are provided so you may access all content on the OFR website. FAST FACTS If RV Dealers do any...
by Allen Monello | Jul 11, 2014 | Dealer Compliance, Finance
NOTICE: The information below was obtained directly from the Federal Trade Commission’s (FTC) website. Links are provided so you may access the content on the FTC website. FAST FACTS If you use consumer reports (sometimes called “credit reports”) to make...
