Q: What three things can lenders do to be better prepared for regulator questions about their F&I process?
A: One, standardize your process. Uniform processes should include auditable reports of the actions taken by users of your system. Two, automate real-time reports. Access to real-time reports gives you the ability to prove to auditors where you stand in real time. Three, focus on making consumers whole. Verified refund quotes ensure you have the right information to make the consumer whole. Or, just get Refund Control and do all three in one step.
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