Sales and F&I

Dealertrack Compliance One Sheet

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F&I - Compliance The Power of One | Cox Automotive Safeguard your dealership from fraud, fines, and audits. Create a compliance process that protects every deal, helps you know your customers - and keeps you audit ready. Auto loan fraud exposure for top US auto lenders 1 Maximum per violation for certain FTC regulations 2 $ 7.7 B $ 46 K 1 Point Predictive 2022 Auto Fraud Trends Report 2 16 CFR1 as of January 10, 2022 Dealerships are required to retain deal-related documents for the state mandated time, whether or not a consumer makes a purchase. Adverse Action Notices are a dealership's responsibility for all unsold customers, regardless of any notice the lender may send. Most credit bureaus do not verify customer identities - dealerships must do their due diligence to clear Red Flags and OFAC alerts. What you don't know about compliance can cost you: $

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