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Welcome to the July 18th, 2018 issue of P&A Online, a monthly eMagazine dedicated to the interests and concerns of providers and administrators of automotive finance and insurance products.

P&A Online is your source for industry news and updates as well as original feature articles to keep you well-informed of best practices and trends.

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Featured Articles
Providers and the Onus of Compliance
Do provider compliance obligations exist outside of the organization? Legal expert challenges the P&A to take a leading role in ensuring F&I products are offered in a compliant manner.

By: Matthew Weil

After years of reading compliance-related articles, attending industry trade show panel discussions, and reviewing regulatory directives, you no doubt understand that a comprehensive regulatory compliance strategy should be a central focus in every product provider and administrator’s business. However, many organizations are still troubled with ... Read More »
Considerations When Designing New Products: An Update
Successful F&I product development requires consideration of an increasing number of concerns relating to marketing, claims, and earnings.

By: Lee Bowron, ACAS, MAAA and John Kerper, FSA, MAAA

Working in the F&I industry stays interesting because of the great products that our industry continues to develop to meet the needs of the public. In 2011, we wrote a short article on developing new products. Since that time, the amount and complexity of new ... Read More »
Powerbooking and Its Evil Cousins
The practice of powerbooking is alive and well in dealerships around the nation, and product providers and administrators must remain vigilant to protect consumers.

By: Terry O'Loughlin

In my days with the Florida attorney general’s office, I was the “car guy.” I received hundreds of written complaints every year regarding vehicle transactions. One of my most amusing complaints — but an instructional one as well — was the one I received from ... Read More »
Summit Updates
Industry Summit’s Technology Shootout Takes Shape
ORLANDO, Fla. — This year’s Industry Summit will include the first-ever Technology Shootout, a new feature designed to increase engagement and interaction among attendees and give technology providers an opportunity to showcase the latest advancement in digital sales and F&I. Industry Summit will be held Oct. 8–10, ... Read More »
ACE to Debut Product Specialist Certification at Industry Summit
ORLANDO, Fla. — Organizers of the annual Industry Summit announced that Automotive Compliance Education (ACE) has agreed to once again offer onsite compliance certification to registered attendees for no additional charge. The event will be held Oct. 8–10, 2018, at the Caribe Royale Orlando in Orlando, Fla., ... Read More »
P&A Industry News
Dent Wizard Names New CFO
ST. LOUIS — Dent Wizard International announced the hiring of Jim Powers as the company’s new CFO. Powers officially assumed his new role on July 2 and reports to Dent Wizard CEO Mike Black. Powers comes to Dent Wizard having served in various leadership roles. He most recently served as president and CEO for ... Read More »
CDK Global to Acquire ELEAD1ONE
HOFFMAN ESTATES, Ill. and ATLANTA — CDK Global Inc. announced it has entered into a definitive agreement to acquire ELEAD1ONE. The value of the transaction, which was unanimously approved by CDK’s board of directors, was not disclosed. The deal was first reported on Sunday by The Banks Report, which described the acquisition as checking off ... Read More »
GWC Introduces Major Account Management Team
WILKES-BARRE, Pa. — Vehicle service contracts provider GWC Warranty, the best-in-class provider of used vehicle service contracts sold through automotive dealers, has announced the inception of a newly created Major Account Management Team. This new team of five highly skilled and experienced account managers will be led by Area Vice President Cynthia Bodden and will ... Read More »
F&I Dealer of the Year Nominations Now Being Accepted
TORRANCE, Calif. — F&I and Showroom is now accepting nominations for its 2018 F&I Dealer of the Year and F&I Pacesetters contest, which is being sponsored by American Financial & Automotive Services Inc. for the second year in a row. The nomination period ends Aug. 15, 2018. Now in its 17th year, the F&I Dealer of the Year and F&I Pacesetters program recognizes operations with ... Read More »
View All P&A Industry News Here
Automotive Industry News
AutoGravity Names New CEO, CTO
IRVINE, Calif. — AutoGravity named replacements for its chief executive and chief technology officer (CTO), who reportedly left about two months ago. Alex Mallmann, who most recently served as president and CEO of Mercedes-Benz Auto Finance China, replaces AutoGravity’s co-founder and CEO Andy Hinrichs, who left in May, according to the Orange County Business Journal. The ... Read More »
FTC, 12 Partner Agencies Conduct Used Car Rule Compliance Sweep
WASHINGTON, D.C. — The Federal Trade Commission, working jointly with 12 partner agencies in seven states, conducted the first compliance sweep of car dealerships since its amended Used Car Rule took effect earlier this year, the regulator announced. The sweep was conducted in 20 cities nationwide between April and June 2018. According to the ... Read More »
ChannelNet Enhances SaaS Platform
DEARBORN, Mich. — Digital engagement provider ChannelNet has enhanced its software-as-a-service (SaaS) platform with advanced personalization features that help companies streamline business-to-business (B2B) marketing, sales and customer service functions in a secure, real-time online portal, the company announced. ChannelNet’s highly scalable, patented SiteBuilder software platform now offers an advanced integrated portal that enables companies to operate more efficiently ... Read More »
FCA Launches Dealer Market Investment Program
AUBURN HILLS, Mich. — Fiat Chrysler Automobiles has introduced a new program aimed at identifying, developing, and placing dealer candidates as it works to strengthen and enhance its U.S. dealership network. The Dealer Market Investment Program will cultivate and provide financial support to proven, high-potential individuals who want to operate a Chrysler-Dodge-Jeep-Ram or Alfa Romeo-Maserati dealership but have limited ... Read More »
CFPB Official Who Sued Trump Resigns, Drops Suit
WASHINGTON, D.C. — Leandra English, who former Consumer Financial Protection Bureau Director Richard Cordray’s picked to succeed him as acting director, is ending her court battle to unseat Mick Mulvaney as acting head of the bureau and her employment with the embattled regulator. English’s attorney, Deepak Gupta, posted a statement on Twitter that English is ... Read More »
ZERO Plan Announces New 36-Month Terms
OAK PARK, Ill. — Universal Lenders LLC, creators of the ZERO Plan and winner of a 2018 Dealers’ Choice Award for F&I Financing, announced enhanced funding guidelines to allow customers to choose up to 36 monthly installments, allowing for more affordable payments. “With credit tightening we thought this would be an excellent time to launch, ... Read More »
Hyundai Invests in Autotalks to Develop Connectivity Technology
SEOUL — Hyundai Motor has invested in AutoTalks, which specializes in the manufacturing of Vehicle to Everything (V2X) chipsets, as part of a strategic partnership to accelerate the development and deployment of the next generation chipset for connected cars. V2X technology allows vehicles to communicate with one another, with other road users and road infrastructure, ... Read More »
Digital Air Strike Announces Facebook Integration
SCOTTSDALE, Ariz. — Digital engagement company Digital Air Strike announced it has integrated with Facebook to deploy its artificial intelligence (AI)-powered real-time messaging solution, Response Path, on Facebook Messenger. Response Path allows businesses to deploy “Facebook Assistant” on Messenger to communicate with customers, route leads to the proper sales staff and respond anytime. This is especially ... Read More »
View All Auto Industry News Here
P&A Featured Companies
Please click on a company logo to get more information.
Arch Insurance Chem Etch Manufacturing Dealer Owned Warranty Company
Dealers Assurance Company (DAC) EcoProProducts Entire Car Protection (ECP)
F&I Administration Solutions F&I Express Impact Group
Innovative Aftermarket Systems (IAS) Kerper Bowron, LLC MaximTrak Technologies
National Automotive Experts Old Republic Insurance Company PCMI
Performance Administration Corp. (PAC) Safe-Guard Products International Simoniz USA
SouthwestRe StoneEagle The Warranty Group
Vanguard Dealer Services Virginia Surety Company, Inc. Wise F&I
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