Tag Archive | "AFIP"

AFIP’s Robertson Joins PALS Roster


LAS VEGAS — Organizers of the annual P&A Leadership Summit have announced that David Robertson, longtime executive director of the Association of Finance & Insurance Professionals (AFIP), will serve as a featured speaker at the event, which is scheduled for Aug. 30–31 at Paris Las Vegas.

“In his training, Dave’s primary focus is on personal integrity and accountability, but the value of the products AFIP-certified F&I professionals sell is not far behind,” said David Gesualdo, show chair and publisher of P&A magazine. “His message is an important one, and we are honored to bring him to the PALS stage.”

Robertson’s address, “Carrying the Torch to Light the Flame,” will begin at 10:00 a.m. on Wednesday, Aug. 31. He is expected to discuss the role of F&I product providers and agents in delivering and maintaining a positive message about the many benefits products such as vehicle service contracts, GAP coverage and appearance protection, among others, bring to car buyers.

“My presentation is a call to action that identifies grassroots initiatives and collective public awareness campaigns to ensure that car buyers continue to look first to the selling dealer for these time-tested services,” Robertson said.

To register for the 2016 P&A Leadership Summit, click here. Attendees who register by midnight tonight, Aug. 5, will enjoy a $100 discount.

To inquire about sponsorship and exhibition opportunities, contact David Gesualdo via email hidden; JavaScript is requiredor at 727-947-4027.

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GSFSGroup’s Field Force Completes AFIP Certification


COLLEYVILLE, Tex. – The Association of Finance & Insurance Professionals (AFIP) announced that Gulf States Financial Services Group’s entire dealer-support cadre completed the AFIP Certified F&I Professional program in 2015. David Robertson, AFIP executive director, conducted a review and proctored the certification exam in the final round of testing at the firm’s Houston home office in December.

According to Robertson, “This group’s 100% first-time pass rate is indicative of the organization’s longstanding commitment to regulatory competence. A large number of the GSFS candidates moved up to Senior and Master Certification status.”

Commenting on the latest round of testing, Steve Amos, GSFSGroup’s president, said, “Nothing speaks more to GSFS’s commitment to our values and concern for the regulatory health of our organization than AFIP certification. We are very proud of our team’s test results and their commitment to excellence.”

AFIP Certification provides F&I professionals with a comprehensive working knowledge of the federal and state laws that govern in-dealership financial services, with an emphasis on best practices and ethical conduct. “The Certified F&I Professional program’s primary objective,” said Robertson, “is to place as many individuals with a working knowledge of state and federal regulations governing the vehicle purchase, funding, leasing, and owner protection processes as close to car-buying consumers as possible.”

The two-tier process calls for the certification of in-dealership financial services officers, backed by regulation-savvy dealership support personnel. In the last 25 years, AFIP has certified more than 50,000 in-store employees, field operatives of captive and institutional lenders and aftermarket product vendors, and independent general agents. “The result has been a dramatic reduction in breaches of consumer trust,” said Robertson.

“GSFS will work to convince dealers to have their F&I personnel certified,” said Amos. “With the CFPB presence today, it makes good sense to know your team has a clear understanding of the right thing to do.”

For the past 33 years, GSFSGroup has provided a contemporary and comprehensive mix of vehicle owner protection products and services, backed by committed customer service, basic and recurrent training, hands-on mentoring and oversight through its direct and general agent distribution channels. Its objective is to enhance the vehicle ownership experiences of car buyers in its core states of Texas, Oklahoma, Louisiana, Mississippi and Arkansas, and throughout the U.S.

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Robertson to Offer Glimpse Into Future at Dealer Summit


TAMPA, Fla. — Organizers of Dealer Summit announced that David Robertson, longtime executive director of the Association of Finance & Insurance Professionals (AFIP), will present a session dedicated to regulatory compliance at the 2016 event, which will be held May 3–5 at the Sheraton Tampa Riverwalk Hotel.

“Dave Robertson brings both wit and wisdom to the Dealer Summit stage,” said David Gesualdo, show chair and publisher of Auto Dealer Today and F&I and Showroom. “We are counting on him to shed some light on the current and future state of the F&I office and set the stage for the compliance sessions that will follow.”

Robertson is a 45-year automotive industry veteran and, in 1989, was among the founders of AFIP. He will present the F&I Keynote Address, “A Look to the Foreseeable Horizon,” at 9:10 a.m. on Wednesday, May 4. He is expected to comment on the wave of recent developments in the F&I segment and how dealers, agents, finance companies and OEMs have responded.

“While there are exceptions, the impetus for F&I-related innovation typically germinates from the bottom up,” Robertson said. “Unfulfilled consumer needs are first recognized at the dealership level, with the general agent corps and aftermarket product providers acting as first responders. Once the viability of a new product or service is established, the captive and institutional lenders and manufacturers follow suit.”

Registration for Dealer Summit is now open at the event’s website. Dealers who register by April 1 will enjoy a $100 early-bird discount.

For information about exhibition and sponsorship opportunities, contact David Gesualdo via email hidden; JavaScript is required or at 727-947-4027.

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AFIP Issues Guidance on Reg. Z and M Dollar Thresholds for 2016


COLLEYVILLE — The Association of Finance and Insurance Professionals issued guidance this week on the Federal Reserve Board and the Consumer Financial Protection Bureau’s Nov. 25 announcement that 2016 dollar thresholds for Regulation Z (Truth in Lending) and Regulation M (Consumer Leasing Act) exemptions will remain unchanged in 2016.

Protections under the TILA and CLA will apply to consumer credit transactions and consumer leases of $54,600 or less in 2016, according to the agencies, the same thresholds that applied in 2015, reports F&I and Showroom.

“The $54,600 threshold will remain the same for 2016, as well the accepted practice for processing transactions in excess of that amount.”

The $54,600 maximum amount to qualify for installment sale and consumer lease protection under TILA and CLA, respectively, is not based on the selling price of the vehicle, but on the “amount financed” for a credit sale and the “total contractual obligation” for a lease, Robertson added. The total contractual obligation includes non-refundable amounts a lessee is contractually obligated to pay under the lease, but excludes the residual value, purchase option price and amounts such as taxes, license and registration fees collected by the lessor, but paid to third parties.

“However, most dealers treat all consumer transactions as if they fall under TILA and CLA, regardless of the dollar amount involved,” Robertson noted. “Under the two regulations, a consumer transaction is one in which the vehicle is used ‘primarily’ for household, family or personal use. Consumer transactions exceeding the $54,500 threshold may be recorded on a TILA compliant installment sale agreement or a Consumer Leasing Act compliant lease agreement.”

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AFIP’s Robertson Heads to Austin


AUSTIN — Organizers of the upcoming Texas Compliance Summit have announced that David Robertson, executive director of the Association of Finance & Insurance Professionals (AFIP), will serve as a featured speaker at the event, which will be held Nov. 16–17, 2015, at the Hilton Austin Airport.

“David Robertson’s professionalism and strict code of ethics is a perfect fit for Compliance Summit,” said David Gesualdo, show chair and publisher of Auto Dealer Today and F&I and Showroom. “His appearance is a credit to our event.”

Robertson will serve as the featured speaker for the “Easy-to-Implement Processes and Controls” portion of the agenda, which begins at 3:40 p.m. on Tuesday, Nov. 16. In his address, “Knowledge of the Law Keeps You Out of Trouble and Closes Deals,” he is expected to explain how a compliant sales and finance process generates profits by ensuring customers are treated fairly and equally, introduced to every available protection product and compelled to return.

More information about Texas Compliance Summit, including the full agenda, will be available soon. Registration is open at the event’s website. Attendees who register on or before Oct. 26 will enjoy a $100 discount. For sponsorship and exhibition opportunities, contact Eric Gesualdo via email or at 727-612-8826.

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AFIP’s Robertson Joins Midwest Compliance Summit


CHICAGO — Organizers of Compliance Summit have announced that David Robertson, executive director of the Association of Finance & Insurance Professionals, will speak at the Midwest event, which is scheduled for April 20–21, 2015, at the DoubleTree Chicago O’Hare in Rosemont, Ill.

“Dave brings the experience of training and certifying countless F&I professionals to our stage,” said David Gesualdo, publisher of Auto Dealer Monthly and F&I and Showroom magazines. “He sets high standards for front-end compliance as well as personal accountability for AFIP-certified finance managers and directors.”

On Tuesday, April 21, Robertson will present “Knowledge of the Law Keeps You Out of Trouble and Closes Deals,” which will kick off the Easy-to-Implement Processes and Controls portion of the agenda. Compliance Summit will also include sessions dedicated to Rules and Regulations and Your Responsibilities as well as an open-forum discussion titled “Is it Compliant?”

“When it comes to regulatory compliance, dealers are looking for help,” Robertson said. “I’ll make certain you don’t leave empty handed.”

More information about Compliance Summit, including registration and travel information, is available at ComplianceSummit.com. For sponsorship and exhibition opportunities, contact Eric Gesualdo via email hidden; JavaScript is required or call 727-612-8826.

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