Kentucky measure follows similar Florida statute aimed at protecting consumers from unscrupulous practices.
Borrowers seeking to buy vehicles despite affordability issues were the top culprits last year as newer methods increase.
New application helps dealerships meet today’s standards.
Lawsuit alleges its actions cost consumers more than $10 million.
Identity fraud has increased at 84% of dealerships, with 60% losing three or more vehicles in the last year; dealers blame increasing digitization of deals.
In the U.S., 2021 marked the end of government stimulus programs and pandemic related lockdowns. It also marked the beginning of a new era in fraud.
Point Predictive reports lenders saw record levels of fraud in the past year. Learn how to spot the red flags of fraud to reduce its affects.
These scams and schemes could impact any dealership’s profits and put their reputations with lenders on the line.
With advanced analytical insights, dealers and lenders have more power to reach consumers on a personalized level while also protecting against the threat of fraud.
The multi-point program includes real-time call and repair order monitoring and auditing, in-depth training, proprietary claims system lockdown protocol, and cutting-edge virtual claims inspections.
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