CARLAW® Compliance Series
Dealer Compliance Guide - Risk-Based Pricing
by Michael A. Benoit, Anne P. Fortney and L. Jean Noonan, Hudson Cook, LLP

CounselorLibrary.com, LLC, the publisher of automobile financing and leasing legal compliance services, announces a new series of compliance guides. The "CARLAW® Compliance Series" will address legal issues that dealers face every day. The first guide in the series is, "A Dealer's Guide to the Red Flags Rule." Our newest guide in the series is "Risk-Based Pricing."

The federal Risk-Based Pricing Rule ("RBP Rule") imposes a new legal notice requirement on all creditors, including dealers, who use credit scores or other consumer report information to determine the cost of credit or the finance source to which a credit obligation will be sold. Compliance with the RBP Rule is mandatory as of January 1, 2011.

Risk-Based Pricing focuses on the typical three-party transaction that occurs at the dealership, i.e., one where the dealer and the buyer are the original parties to the retail installment sale contract, and where the dealer sells the contract to a third-party finance source. Dealers who arrange direct loans to be closed in the name of a bank or other direct lender will advise dealers as to what, if any, RBP Rule obligations they have.

Risk-Based Pricing explains how and why the RBP Rule will affect dealers and the steps they can take to comply. It clarifies their obligations and is a resource for dealers, lawyers and other compliance managers to understand how to navigate the RBP Rule's substantive and procedural requirements.

Dealer Compliance Guide - Risk-Based Pricing
Price
Qty
 
$50
November 2010 • Softcover
53 Pages
InstallmentLaw
A monthly, multi-faceted legal reporting service for legal compliance professionals and law firms in the consumer unsecured and personal property-secured lending industry interested in installment lending, student lending, payday lending, title lending, pawn transactions, prepaid cards, and open-end lines of credit, including credit cards.

For a demonstration and free trial of our latest legal reporter, please contact Mike Willer at (614) 855-0505. Click here for more info.