Welcome to your VADA newsletter archives! Below you will find links to many of the articles from previous editions of your newsletter. If you don’t see a specific article that you are searching for, contact us at 804.545.3024
Form I-9 Tips
We have written about the Trump administration’s push to deregulation. We have noted that one should not expect reduced emphasis on a key Trump policy – reduction of illegal immigration – and for dealers that means Form I-9 compliance. If the Department of Homeland Security, Immigration and Customs Enforcement (ICE) inspects your dealership for I-9
The Importance of a Compliance Program
Do you have a compliance program for sales and F&I activities? A compliance program must have several critical elements: Training – Employees must understand what they can and cannot do. Roadmap – A program will include a checklist to help employees through transactions so the appropriate steps are taken and necessary forms are properly completed.
New Credit Freeze Law: What Does It Mean for Your Dealership?
This spring, the U.S. House and Senate overwhelmingly passed, and President Trump signed, the Economic Growth, Regulatory Relief, and Consumer Protection Act. The Act made several changes to the Dodd Frank financial reform law and other related statutes. The primary purpose of the law was to reduce regulatory burdens on financial institutions, particularly small banks.
FTC Sues Dealer Group Over Income Falsification
As we have noted often, the Federal Trade Commission is the primary federal “cop on the beat” for motor vehicle dealers. The FTC can proceed in a variety of ways if it believes that dealers are undertaking activities it sees as improper. The most common method of challenging the conduct of an individual dealer or
Unintended Consequences of Prematurely Releasing Trades
If you read carefully a retail installment sales contract, you will see that your dealership is the creditor in the document. You assign the RISC to a finance source. Once assigned, the finance source is responsible for and services the account. Unfortunately, dealers too often unintentionally guarantee the customer’s debt or lock themselves into servicing
2018 Mid-Year Quiz Answers
There have been several deregulatory actions by the Trump administration, particularly to reduce the number of regulations affecting businesses and to rein in bureaucratic overreach on employment matters. However, deregulation is hardly the case for federal agencies that carry out Trump administration priorities or have legislative mandates. Here are examples that impact auto dealers. Immigration
2018 Mid Year Quiz
As if they were subject to the ancient curse, auto dealers live in exciting times. Whether it is the tumult in the federal government resulting from Trump administration policy revisions, franchisors taking advantage of good times to tighten their control, employee empowerment because of the publicized worker shortage, or the many changes affecting society generally,
New York Federal Judge Ruling Does Not Mean the End of the CFPB
There has been substantial publicity about a decision by a federal judge of the Southern District of New York that the structure of the Consumer Financial Protection Bureau violates the United States constitution. This is far from being the end of the CFPB, however. Recognize this decision was issued by a federal district court judge.
The #MeToo Movement and Pay Plans
We recently reported on the success of the #MeToo movement in getting a provision in the recent federal tax legislation to prohibit deduction of payments, attorneys fees, and other expenses in settling sexual harassment claims if there is a confidentiality clause in the settlement agreement. Recently, fifteen U.S. Senators cosponsored legislation to bar employers from