Businesses must leverage every available advantage to increase sales and maintain profitability. One such advantage is the use of soft pulls, which quickly pre-qualifies customers without negatively impacting their credit score....
04 May, 2023
With the June 9th deadline to comply with the Federal Trade Commission’s (FTC) Safeguards Rule, it’s important that auto, marine, RV, and powersports dealerships as well as financial services industries are ready. The Safeguards Rule requires these businesses to implement measures to keep customer i...
17 April, 2023
What may have started as a way to read a restaurant menu has now resulted in a fast way for consumers to get and give information, have a mobile experience and even complete a financial transaction. In fact, 93% of consumers say since Covid, they’ve used a QR code to complete a financial transaction...
17 April, 2023
On a busy Saturday at a dealership, what is sometimes the first corner to be cut in the sales process can be the costliest. Something as simple as taking a photo of a customer’s driver’s license when that potential buyer is in a hurry to take a test drive can result in big fines. Beyond that, there ...
14 March, 2023
86% of dealers think fraud is getting harder to prevent. Search Google and you’ll find story after story of criminals trying and often succeeding in stealing vehicles from dealerships by pretending to be someone else with the help of a fake ID. In the last year according to an eLend study, 79% of de...
11 March, 2023
The Gramm-Leach-Bliley Act of 1999, or “GLB” as it is more commonly called, is the law with the biggest impact on the dealership community since the Truth in Lending Act was passed in 1968....
04 April, 2022
Joint Measures from Consumer Credit Reporting Agencies Remove Nearly 70% of Medical Collection Debt Tradelines from Consumer Credit Reports Equifax, Experian, and TransUnion have announced effective July 1, 2022, they will no longer include medical debt paid after being sent to collections on consum...
01 April, 2022
How is your Regulatory Compliance Knowledge?...
17 December, 2021
Most businesses don’t have it in the budget to hire a compliance consultant or pay for compliance training, despite the fact violations can be hefty and potentially even include jail time. We aree on your side and is here to provide a stable foundation for a solid compliance program that will keep y...
03 December, 2021
What is a Soft Pull? In general, soft pulls are classified into two standard terms. Prescreen and Prequalification. Both do not affect your consumer credit report because they are not an application for credit. A prequalification soft pull is a request to be prequalified to apply for credit. A pres...
17 November, 2021