Solutions
Employee Training
– Strategies to assess risk, review the existing policies, practices, and methodologies of your dealership.
– Create and implement the Fair Lending Policy.
– Strategies and guidance to define the policies of Maximum Markup for Ancillary Products and Rate, as well as, help create proper documentation of every implemented procedure asnd policy.
Employee Training
– A training program for the F&I and sales departments for employees to get a clear view of what’s expected of them regarding their responsibilities.
– We simplify and explain the compliance policies effectively to company’s Sales and F&I management and every employee.
Ongoing Audits
– Your dealership gets visited after every three months to see effectiveness and implementation of the policies mentioned above.
– Having all these documents ready means, you will not have anything to fear when regulating authorities come to you and ask you to take out dozens of different types of documents.
– These visits help you prepare for any visits from the regulatory authorities. ECOA and TILA compliance gets checked quarterly.
Actions for Corrections
– Changes and modifications are made to compliance procedures based on quarterly reports.
– New policies are documented, and all relevant manuals are updated.
– Any corrective action documents coming from sales department are gathered and stored in a safe online repository for future review.
Consumer Complaints
– Policy to document consumer complaints.
– Policy for corrective actions to be documented and implemented for any consumer complaints.
– Management review and discussion concerning complaints.
– Even stricter actions are implemented for the documentation and resolution of consumer-related complaints.
Employee Training
– Strategies to assess risk, review the existing policies, practices, and methodologies of your dealership.
– Create and implement the Fair Lending Policy.
– Strategies and guidance to define the policies of Maximum Markup for Ancillary Products and Rate, as well as, help create proper documentation of every implemented procedure asnd policy.
Employee Training
– A training program for the F&I and sales departments for employees to get a clear view of what’s expected of them regarding their responsibilities.
– We simplify and explain the compliance policies effectively to company’s Sales and F&I management and every employee.
Ongoing Audits
– Your dealership gets visited after every three months to see effectiveness and implementation of the policies mentioned above.
– Having all these documents ready means, you will not have anything to fear when regulating authorities come to you and ask you to take out dozens of different types of documents.
– These visits help you prepare for any visits from the regulatory authorities. ECOA and TILA compliance gets checked quarterly.
Actions for Corrections
– Changes and modifications are made to compliance procedures based on quarterly reports.
– New policies are documented, and all relevant manuals are updated.
– Any corrective action documents coming from sales department are gathered and stored in a safe online repository for future review.
Consumer Complaints
– Policy to document consumer complaints.
– Policy for corrective actions to be documented and implemented for any consumer complaints.
– Management review and discussion concerning complaints.
– Even stricter actions are implemented for the documentation and resolution of consumer-related complaints.
