Important Discussions on Compliance Standards

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• Jun 13, 2019 • ARA News and Events, Recovery Industry NewsComments Off on Important Discussions on Compliance Standards

A Letter from ARA Executive Director, Les McCook

I had the honor of joining a panel of Association Executives at the National Automotive Finance Association conference. I sat alongside Phillip Bohi of American Financial Services Association, Paul D Metrey of National Automobile Dealers Association, and Shaun K. Peterson of National Independent Automobile Dealers Association. Jack Tracey served as the moderator and led our discussion about the challenges each of our respective memberships face on a daily basis.

Jack Tracey and Joel Kennedy, NAF Association leaders, were instrumental in assembling the panel together. Our goal was to discuss strategies on how we can begin to define a minimum compliance standard for our sectors.

After confirming as leaders that we should move forward with the initiative, we successfully brought lenders and clients into agreement on a solution. As individual company owners, you should decide where and how you obtain the training necessary for your employees to meet the many compliance standards as prescribed by our clients.

Looking forward, our next project will be improving the quality of site inspections and then determining the best way to share that information within the community of industry stakeholders.

We always look forward to these discussions, and we want to thank everyone for their time and commitment to such an important project.

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