CFPB Monitoring F&I Products?

Diagram of Compliance ProgramCMC was proud to take part in the Texas Compliance Summit this week. The conference examined the current regulatory state and tough challenges facing our auto dealers today. The conference was educational and enlightening, with the reoccurring theme being the need for transparency and the proper disclosure of information. The CFPB is not going away any time soon, they focus on UDAAP – Unfair, Deceptive, Abusive Acts and Practices and industry experts continue to predict the CFPB will find a way to monitor F&I Products. Auto dealers need to be proactive in taking the applicable steps to become compliant in all areas of their business.

At CMC we endeavor to evaluate and educate on compliance throughout our dealer partnerships. Through our technology platforms we are able to incorporate profit caps, set pricing guidelines and controls, and monitor deviations. We assist in implementing processes and procedures and provide multiple areas of training that include regulatory compliance. At CMC we continually provide the most recent, relevant information to our dealers to ensure they are protected and ultimately the customer is treated fairly.

For more information on compliance at Coffeen Management Company contact dealersupport@coffeenmanagement.com.

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