Q. Are you following one process for all F&I product cancellation reasons? Learn why you should.
A: Regulators, such as the CFBP, are looking to see that lending institutions are effectively managing the cancellation and subsequent refund of F&I products through one common process, regardless of the cancellation reason. With Refund Control©, you can ensure payoff refunds are handled with the same urgency as deficiency credits. No matter the reason for cancelling aftermarket products, you now have a single system of record to track all activities that ensures customers are made whole and you stay in compliance.