1. U.S. Bank Monitoring F&I Product Pricing
U.S. Bank told dealers this week that it’s monitoring how they price F&I products. If its monitoring program finds ‘unexplained differences in pricing or excessive add-on product financing on a prohibited basis,’ dealers will be asked to provide an explanation.
2. Disparate Impact Ruling Expected This Week
A case debating a legal theory used by the Consumer Financial Protection Bureau to go after auto finance sources for perceived discrimination in dealer markup is expected to be ruled on this week by the U.S Supreme Court.
3. TrueCar Denies Claims in CNCDA Lawsuit
The California New Car Dealers Association filed a lawsuit against TrueCar last Wednesday, alleging the that the shopping site is not in compliance with certain sections of the California Vehicle Code – a claim TrueCar has denied.