At dealerships across the country, compliance is a big concern, or at least it should be. A dealership’s first goal should be creating a deal that makes the customer happy while satisfying the dealership’s bottom line and the letter of the law. Now that the Consumer Financial Protection Bureau is keeping their eyes on lenders and consumer deals across the country, though, dealerships that get sloppy on their documents could face the threat of legal action.

The CFPB have promised to start overseeing the credit bureaus and the debt collectors alike, and I am fairly certain that they will focus more of their attention on car dealerships in the next year. That being said, there is no more room for error or the usual excuses for why a deal isn’t fully compliant. The time for excuses is over.

From the start, Special Finance Group has taken steps to ensure that the deals done at their associated dealerships are fully compliant. The initial training for all special finance reps is extremely thorough, but Special Finance Group goes the extra mile with monthly meetings with all special finance reps. These meetings serve as a refresher course and additionally cover the latest developments and changes in the law.

Aside from thorough training, there are other safeguards in place to ensure that deals are compliant including random monthly audits.  If there are any potential issues, Special Finance Group catches them right away and sets it right before it causes problems for the dealership or the financial institution. Everyone is held accountable for their actions.

Compliance training and safeguards are just one part of Special Finance Group’s Complete Special Finance Solution. Click here to learn more about Special Finance Group’s dealership services, and learn more about Special Finance Group by checking out our website and following us on Facebook, Twitter, and LinkedIn.

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