Braden Perry Discusses Red Flags and Complaints with the Center for Auto Finance Excellence

Braden Perry, partner at Kennyhertz Perry, LLC, recently provided tips on dealer compliance with the Center for Auto Finance Excellence. Complaints to the lender “should be logged and kept as part of their books and records, and the lender should request review of these complaints regularly as part of their compliance program,” he says. And if a regulator comes calling, including the Consumer Financial Protection Bureau, “it is imperative that the lender can provide information in a clear and efficient manner and be able to defend its compliance plan and convey to the regulators that it reviews its dealers and takes consumer protection seriously.”

For auto lenders, monitoring dealer compliance is a must and should be taken seriously. For dealers that fail to measure up, lenders must enforce penalties, which may entail terminating the relationship.

To read the entire article, please visit: http://autofinanceexcellence.org/on-alert-tips-for-monitoring-dealer-compliance/

About Braden Perry
Braden Perry has been featured as a regulator contributor and media source with a variety of financial and legal publications, including Lawyers.com, LawTV, Law360 and Compliance Crossing, among others. A former CFTC senior trial attorney and veteran in regulatory compliance and white collar defense, Braden has expertise and consults with clients throughout the United States in areas of internal investigations, enforcement matters, regulatory issues, and corporate transactions, including advising on highly complex regulatory structures.

About Kennyhertz Perry, LLC
Kennyhertz Perry, LLC is a business and litigation law firm representing clients in highly regulated industries. The firm was founded by two veteran Kansas City attorneys, John Kennyhertz and Braden Perry. Kennyhertz Perry is located in Kansas City, Mo. To learn more about the firm, visit kennyhertzperry.com.