Definitely worth the time. Pretty much covers it.
Did you know CBC provides an Adverse Action letter fulfillment service?
Question: What is an Adverse Action letter fulfillment service?
Answer: CBC will send Adverse Action letters on the dealerships behalf twice a month.
Question: I already have a process in place. What’s the benefit of having CBC send Adverse Action letters for my dealership?
Answer: CBC’s Adverse Action letter fulfillment service:
- eliminates the need to have staff members endure the tedious task of sorting through deal jackets to decide who requires a letter.
- eliminates extra labor costs from staffers taking on he responsibility.
- eliminates probable human error often due to one set of eyes searching through deal jackets.
- provides a potentially huge cost savings if based on the top 3 alone.
- allows you to select the criteria by deal status or credit score.
- sends Adverse Action letters twice monthly on the 10th and 25th.
- supplies a monthly summary report of all letters generated and sent.
- automatically stores an electronic AA letter in the eVault providing a permanent audit trail.
- requires no contract and no set up fees.
- requires only a $25 monthly minimum which is easily surpassed after only 20 letters generated.
Consider this: If you are sending Adverse Action notices internally in the required time frame correctly, you are most likely paying $0.46 per stamp plus an envelope, paper, toner/ink, wear and tear on electronic devices, and LABOR, for someone to print, fold, stuff, address, stamp, and send. Whew! How much does that cost per piece? What happens if an AA letter gets missed? Fines for Adverse Action letters not sent are $2,000.00 per occurrence.
Let CBC handle your Adverse Action letters and we’ll make sure everything’s handled correctly, timely, and compliant allowing your staff to focus on sales, F&I, and office management all for only $1.25 per notice.
Go to CBC’s website.
Fill out the attached form to get started now.
Josh has been an integral part of CBC for over 5 years and is moving on to take on an even bigger role at eBay. We wish Josh the best of luck and he will be greatly missed.
Position: Web Developer/Analyst:
Credit Bureau Connection provides software solutions to the automotive, lending, and related industries. As an authorized reseller for the three major Credit Reporting Agencies, we specialize in credit report and compliance products and solutions. We are a team of motivated people, providing leading edge solutions and a high level of customer service in a dynamic business.
We currently have a career opportunity for a Web Developer/Analyst. Our growing organization is in need of a highly motivated and dependable web-based application programmer for our Fresno office. This is a full-time position, but will consider part-time and/or contract arrangement as well. The successful candidate must have excellent communication skills, a strong work ethic, be reliable and dependable, and have a strong understanding of web-based development languages and processes.
This position is responsible for analyzing requirements, designing and developing applications and modules to enhance and maintain various web applications used in our vertical market applications supporting the credit report and compliance industry. Strong user interface design and development skills along with an understanding of database structure and access techniques are critical components of a successful candidate’s skill set. The primary duties will be working as part of a small team of developers writing web application programs with accountability to our end-users and industry partners. Responsibilities include: coding, testing, documenting, and delivering features with cross-browser compatibility, accessibility and search engine optimization. We maintain a loose agile development environment utilizing methods like peer code reviews, pair programming, continuous deployment & integration, etc, along with participation in scoping, detailed design, effort estimation, coding, testing, debugging, code reviews, maintenance and support, as well as pro-actively looking for ways to improve our products and solutions
- Minimum 2 years experience in web based application development
- Self-motivated with strong problem solving, analytical, and object-oriented programming skills
- Ability to apply logical thinking skills with good communications skills
- Ability to work independently as well as in a team environment
- Ability to write high-performance, reusable code for UI components
- Proficient using PHP, DOM, API, AJAX
- Front-end debugging experience using tools like Firebug/Chrome dev tools
- Understanding of MySQL and SQL query language for database access
- Working knowledge of Internet technologies, including XML, JSON, DHTML, etc.
- Experience with Java and Flash development a plus
- Experience with Adobe products and PDF technologies a plus
- Experience with Linux system and network admin a plus
If you are interested and feel these opportunities are a good match for your qualifications, please submit your resume and salary requirements to:
Credit Bureau Connection
Attn: Human Resources
575 E. Locust Ave., Suite 103
Fresno, CA 93720
Who’s responsible for keeping automotive, RV, motorcycle, and motorsports dealerships compliant with Federal laws? Is it the owner of the automotive dealership and its staff or the compliance solution provider supplying the compliance tools?
Journalist Margret Colombo and students from a local community college did a story on federal regulations of U.S. Auto Dealers and asked local automotive compliance expert Jeff VanOrnam to shed some light on this confusing and growing problem.
VanOrnam, a 25 year veteran of the automotive industry and a current compliance regulations director at Fresno, CA based credit report and compliance solution provider CBC, took on the task to clear up the debate. VanOrnam begins by saying, “The short answer is obviously the dealer principal. The dealer and the staff handling sensitive data are ultimately responsible for protecting the identity of every consumer personal data is collected from and give all the required documents. The dealership is also responsible for maintaining an ITPP or Identity Theft Protection Program with a current and relevant personnel managing the program. Proper records are also required and readily available in the event a legal dispute, discrepancy, or federal audit some for up to 10 years”.
So they asked Jeff why so many dealers are out of compliance and clueless when the fines for non-compliance and violations are high enough to put them out of business? He answered, “In speaking with hundreds of Dealer Principles, GM’s, Finance Directors and actual Compliance Officers over the last 5 years, most told me they were told they ARE in compliance. It turns out the majority of them [dealers] are under the impression their compliance solution provider makes sure they are compliant with FTC, ECOA, FCRA, GLB, Patriot Act, Dodd-Frank, and other federal regulations.”
“That, VanOrnam says, is the biggest problem in the industry today. Most dealer groups and multi roof top franchises have paid thousands of dollars up front and hundreds to thousands more every month to be in compliance, however, single roof top franchise dealers and most used vehicle dealers assume because they pay big bucks each month means they are protected. In fact, it’s safe to estimate over 50% of vehicle dealers are unaware of what rules apply to them and who carries the overall burden.”
Simply put… Every US vehicle sales dealer is mandated by federal regulations to follow the same set of guidelines.
We asked if there was anything out there to help dealers know what questions to ask before picking a compliance solution provider and the answer is yes. Jeff VanOrnam manages a blog that lists the most important things to know and ask before signing a contract with ANY credit report and compliance solution provider.
The expressed and written information are the opinions of author and are not meant to be used or assumed to be standard practice. Please consult legal counsel before rendering any conclusions.
Proper Disclosure Compliance Checkup:
- Print a credit application from your DMS and review the documents to make sure the proper disclosures are present. Pay special attention to how the form prints, making sure that items appear in the proper box or on the line. You also need to be sure nothing prints over pre-printed language on the form, and that all disclosures appear on the documents.
- Confirm that your customer is receiving a Privacy Notice as soon as his or her nonpublic personal information is obtained, whether in person, over the Internet or over the phone.
- If you are still using the five-paragraph, half-page privacy notice, you are out of compliance. Make sure you have the 2009 version provided by the Securities and Exchange Commission (SEC) available also from CBC.
- Before vehicle delivery, preferably before a deal is agreed on, make sure that you are reviewing consumers who finance or lease a vehicle against the Red Flags Identify Theft Program in your policy and/or by CBC, the vendor from which you pull a credit report.
- Verify that your customer is receiving a Risk Based Pricing Credit Score Disclosure Notice as soon as a credit bureau report is pulled.
- Make sure your adverse action notification process is delivering notices to consumers within 30 days of accepting a credit application.
- Validate that customers who purchase a used vehicle are provided a Used Car Buyer’s Guide with the correct, federally provided safe harbor language disclosing the warranty provided as part of the vehicle sale.
- Check all consumers against the FTC’s OFAC list before you deliver a vehicle. It’s also a good idea to run your list of wholesalers you do business with against the OFAC list on a quarterly basis. Make sure to retain copies of those checks.
- Make sure to handle state-required disclosures with the same care.
September 14, 2012 – Fresno, CA
Credit Bureau Connection’s latest release introduces a new tool called the Zip Code Activity Map or ZCAM. ZCAM is accessible from the eCredit Complete Reports menu and available to all users utilizing the eCredit software interface. The ZCAM tool utilizes pre-existing applicant and credit report data and creates a user configurable, interactive map (powered by Google Maps), allowing a quick view of where dealership traffic is coming from and average credit scores by zip code. This new reporting tool is available now.
The staff at CBC takes subscriber suggestions very seriously. Business Development Director, Jeff VanOrnam was recently quoted, “When customers speak, we listen. It really is that simple. It’s that forward thinking mentality that keeps us miles ahead of the competition in the automotive credit report and compliance business.”
The idea for ZCAM was born when a current CBC subscriber requested a simple zip code map telling him where his customers were coming from. He was planning to mail out a flyer advertising an End of Summer Blowout sale and wanted information on where he could best target his marketing. He didn’t have time to do the analysis himself, so he looked into out sourcing the work, but that was too costly.
As a long time subscriber familiar with CBC’s reputation for responsiveness and excellent service, he contacted CBC. After hearing the suggestion, CBC’s CTO, Frank Larsen, replied, “He just might be on to something. We have the relevant data, we have the technology, and we have the expertise”; and CBC’s Zip Code Activity Map was born. Mr. Larsen went on to say, “If it’s beneficial to our subscribers and it is programmatically possible, we will surely consider it.”
At the time of this press release, this unique Google Maps powered zip code activity tool is exclusive to CBC subscribers. Contact Credit Bureau Connection today for more information and to begin taking advantage of this great new feature.
It’s hard to believe it was 11 years ago. I remember it as if it was yesterday. I’m not a senior but also not a child. This day to me was like the day the Japanese bombed Pearl Harbor was for my Grandfather. The day Kennedy was shot for my parents. These events just don’t make sense and as far as I’m concerned, they never will. Why taking a life can be thought of as a victory has no place in my thoughts and in my life. The war on terror is far from over and the religious wars fought all over the world are simply baffling to any one with a rational mind. I know we can’t turn back time but if only we could all truly believe that one person can make a difference and you are capable of being that one person, we all can make a difference. Let’s embrace peace, pay our respects to those who have paid the ultimate price for our freedom, and stop the killing of innocent people to prove our “opinions” are better than the next guys. These are simply one mans opinion and to not contradict myself, my opinion is simply that, an opinion.
Peace to all and God Bless the USA!
It was Saturday December 18th 1992. A day I will never forget. The newly designed Cadillac STS and Eldorado were fitted with the long waited new Northstar engine. The “100,000″ miles without a tune up claim was gaining steam in the luxury car market. Finally, we were selling a lot of cars.
I was one of about 7 salespeople and we worked on a “whoever ups the customer first” system. That philosophy had its benefits and disadvantages. We all did a lot of pre-qualifying from the show room floor. Many a salesman would mysteriously disappear when a less that worthy looking up would come strolling on the lot.
In walks an elderly couple. When I say elderly, in this case, I mean extra elderly (77 and 80 years old). “This could very well be their last car purchase.” I thought to myself.
They were looking for an Eldorado. The one we had listed in the newspaper ad for $29,999. We only had one for that price. A blue metallic color exterior with dark blue cloth interior equipped with only standard features, (which on a Caddy wasn’t all that bad). Nice thing was, with the rebates and factory incentives, ($3,000 to $5000 on remaining 92’s) there was still a lot of gross. So even at $29,999, there was still going to be a nice commission.
So without delay, I took them straight to it and did my presentation and demo and sat the two very sweet prospects down in my office. They had an 80′s something Eldorado with that notorious HT-4100 engine; you remember the one with the bad bearings. It was worth nothing. Because of that, it took hours (about 6 I believe) to close them.
Finally, we had a deal. My sales manager gave them more for the trade-in to make the deal, but that meant less commission for me. Still my 25% was over $700.
Merry Christmas to me, right?
After sending the car to detail and the customers to finance, I was feeling pretty good and ready to call it a day. It usually never took all day for one car deal but this one was worth the time. Once the old folks came out of finance, they too were ready to go home as much as I was. But our CSI was based on the required Gold Key Delivery, so to the delivery area we went. I spent another hour showing them everything from how to open the hood to tuning the radio. Most of which these two would never do. Once we finished, I asked them to hop in the passenger and back seats. I was driving them to the gas station to fill the Caddy up with gas, and then say goodbye.
The Cadillac dealer I worked for was located on the corner of one of the busiest intersections in this Northern California town. Across the street was the gas station we used for demos and to fill up cars after our Gold Key Delivery. Cadillac’s policy was to drive the new buyers to the gas station, fill up the car, and say goodbye. We would then walk back across the street and look for another up. Traffic was crazy that day because it was the last Saturday before Christmas. As I was filling up the car, the husband stepped out of the car and told me he had some things he needed out of his trade. I said not to worry I will drive you back after we fill up and you can get your things and take the car from there. Sounds like a plan. I won’t have to walk back.
When finished fueling the car, I hopped back in the driver’s seat and we all buckled up. Chatting happily I moved to the exit that was mere feet from the corner of the bustling intersection. The light was green going my way through the intersection, so I waited on the endless traffic. Once the light turned red, cars turning right on to the street I was trying to get on would also keep me from making a right turn. I had been waiting for awhile when I saw a city bus wiz by. A few more cars and it was time to make my move. I thought to myself, “this traffic is no match for the powerful Northstar engine, but don’t go crazy, you don’t want to give your precious cargo a heart attack”. Looking to my left, making sure no one was making a right turn during my opportunity, I punched it a little, turned the wheel to the right when all of the sudden… CRASH!!!! *Continued from September Newsletter * The bus that had passed seconds before had stopped at the bus stop only feet to the right of my exit. It took less than a second before I ran smack dab into the back of that bus.
I asked if my customers were okay. They were and stepped out of the car onto the sidewalk. The bus driver exited the bus as did the 7 or 8 passengers. Everyone was okay. I drove the car to a safe place and went to the gas station office to use the phone. As people started gathering around, I called my sales manager who had already heard of the crash. He was livid. The damage to the bus was minimal and the Eldorado was… well… not totaled. As I was waiting to give an accident report, [my sales manager] had another salesman come pick up my customers who obviously were not going to be driving this car home today.
By the time I got back to the dealership, I thought they’d be gone; we’d fix the car and deliver it then BUT NO!!! My livid sales manager had them sitting in my office waiting for me. “OMG!!! What am I supposed to do with them?” I said. My sales manager told me, “Get in there and sell them a different car.” These people had the patience of a saint. Problem was, we only had one ad leader and the rest of the inventory (in December) was the hard to sell, overly equipped cars. They wanted an Eldorado. The only other 1992 we had was white with a white landau vinyl top and red leather interior, custom rims, AND a gold package. It retailed for around $39,999. Well my sweet little old couple wasn’t going to step up to the big dog and some how my sales manager ended up getting them that car for very close to the same payment. My commission went from a whopping $749 to a $150 mini.
Needless to say, I didn’t drive them to the gas station this time but I did go back to find a souvenir lying in the gutter. A broken piece of chrome plated plastic from the bumper that I still have to this day.
Now THAT is what I call, The Longest Day.