The afterthought of the aftermarket cancellation

Managing ancillary product cancellations is getting trickier with increased regulation from states and the CFPB. In this article from Auto Finance News, F&I Express executives Rich Apicella and Gary Peek shared their expertise on the role of third-party vendors in helping lenders maintain compliance. Read it here:

Increase Efficiencies and Promote Compliance in F&I Product Cancelations

How can providers and lenders work together to solve the problems created by an inefficient system for processing cancelations and the regulatory scrutiny it has attracted?
Dealers, agents, auto finance sources and F&I product providers share a common interest in efficiently processing canceled products and issuing refunds to consumers in an expedited manner. In addition, the Consumer Financial Protection Bureau (CFPB), the Federal Trade Commission (FTC), the U.S. Department of Justice (DOJ), state attorneys general and consumer protection groups have all

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