F & I Friday

Friday, October 5

7:45-9:00 a.m. F&I Legal Compliance: Hidden Liabilities in Your F&I Department Jared Zimlin, Priority One Financial Services Your F&I department is designed to be a source of revenue, however there are areas within this department that, if not handled properly, can be a hidden liability. The government has rules in place to protect your dealership and your customers, that must be followed or your dealership could face expensive fines. This presentation will cover a number of federal regulations including: Red Flag, Fair and Accurate Credit Transactions Act (FACT ACT), Equal Credit Opportunity Act (ECOA), Truth in Lending Act (TILA) Regulation Z, Sherman Anti-Trust Act, Form 8300 and OFAC. Jared Zimlin has been with Priority One, the recreational industry’s oldest and largest F&I outsourcing provider, since 2000.  He started as a dealer account executive then advanced to a national sales manager. Jared is currently Priority One’s business development director.  Jared has built relationships with dozens of recreational dealers, manufacturers and industry leaders nation-wide. Jared travels across the country making presentations at dealer meetings on numerous topics of financial importance including, “The Keys to Maximizing your Dealers’ Profits,” “4 Must Know Rules to Remain Legally Compliant if you Submit Applications for Credit,” and “Protecting and Increasing Your Sales by Using F&I During RV Shows.”

9:15-10:30 a.m. Ensuring Your Sales Financing Agreements are Complete Chip Zyvoloski, Wolters Kluwer Financial ServicesNew RVDA Presenter Too often dealerships find themselves facing compliance and legal troubles due to misunderstandings around finance agreements with their customers. Chip Zyvoloski, senior attorney for indirect lending at Wolters Kluwer Financial Services, will highlight the questions dealers must address in order to avoid these problems. For example, what documents comprise your complete sales financing agreement? And, do all of those documents agree with each other? Chip will help dealers identify strategies for making sure financing agreements clearly interpret the rights and responsibilities of the parties involved. Chip Zyvoloski offers more than 20 years of experience in the area of consumer compliance and the financial services industry, with emphasis on indirect lending and leasing. As a senior attorney at Wolters Kluwer Financial Services, he researches and monitors relevant legislation and regulations affecting the indirect lending community, and advises of pending changes and potential impact on lenders and dealers. He has worked in various legal roles at Wolters Kluwer Financial Services for the past 20 years, where his responsibilities have included legal product development and maintenance, and providing customization of services for the company’s customers. He created the company’s standard motor vehicle lease contract product line and has experience with a wide-range of corporate legal matters, including intellectual property issues, customer contracts and negotiation, software and service licensing matters, and human resources legal support.