Compliance Check

Q. How many systems does it take to track and monitor F&I products to ensure compliance at loan end? Sounds like an old joke, but it's no laughing matter. Click to learn the answer.

A:  When financial institutions leave their dealerships with the full burden of ensuring compliant cancellations and timely consumer refunds, they're opening the door to regulatory risk and liability. Bringing transparency to the cancellation processes by submitting notifications simultaneously to both the selling dealership and the F&I product provider allows lenders to take control of the refund process and minimize their risk. Schedule a demo to learn how LCT has got you covered.