How Can You Get In Trouble At Your Dealership?

To quote the poet Elizabeth Browning, “Let me count the ways.” (I don’t think she was talking about dealerships though.)

* If you are not auditing your deals, how would you know if something criminal is happening at your store?

* Did you know that Chapter 8 of the United States Sentencing Guidelines considers an organization’s “compliance” before a judge imposes jail time?

* Were you aware that the Consumer Financial Protection Bureau (CFPB) requires dealers to have a Compliance Management System (CMS)?

* Does your dealership have a Compliance Officer?

* Have you recently reviewed or audited your cash reporting systems (IRS 8300) for payments in excess of $10,000 cash? (Did you know that “willful non-compliance” may include jail time?)

* Are you complying with the Fair Credit Reporting Act?

Please let us know if you have any enterprise risk questions. We want the money you make to be the money you keep!

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