Compliance Check

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.