What To Expect From the AFIP Boot Camp

The good news: No push-ups, sit-ups, rope-climbing, or drill sergeants screaming in your face. The bad news: you will learn more in 2 days than you ever did in high school and you will never be able to use the excuse that you are too old of a dog to learn any new tricks. The really good news is that all the forms, letters, and lender legalese, will at least make sense to you. You may still disagree with them and complain about government interference, but you will be able to see the over-cautious and redundant behavior from a different vantage point. You will also have fact-based answers for questions that you know you have gotten from your dealer, sales people, and customers. For example, “Why do we have to send Adverse Action Letters to our customers when the lenders already do?” and “What should we do if a customer shows up on the SDN list?” Here are just some of the topics that will be discussed at the AFIP Boot Camp: Regulation Z (Truth in Lending), Regulation B (Equal Credit Opportunity), Fair Debt Collection Practices Act, Regulation M—Consumer Leasing, Fair Credit Reporting Act, Magnuson-Moss Warranty Act, Safeguards Rule, Patriot Act, Co-signing a Loan, and state laws that apply to you. Possibly more relevant to you is how to use the menu so that it can protect you and your dealership. Have you fallen asleep yet? I can only tell you from having taken the class that your attention will be held. One thing Mr. Robertson knows is what it is like to be a Finance and Insurance Manager. He knows that you need real-world application to make these laws and regulations make sense. He also knows that you aren’t used to sitting still for any length of time and he respects your need to move around and stretch. More importantly, he makes what looks dull and dry on paper come alive for you. Since he is responsible to keep updated with anything new that is being discussed and debated at the government level, you will also be taught the most recent changes to the laws. The bottom line is that there is an alphabet-full of government agencies that have something to say about the business of financing automobiles, from the FTC, to the CFPB, to the states’ AGs, and you are one human being who is often times multi-tasking just to get your job done. Mistakes will be made. But the more you know, the less you will err. As always, Jeram Marketing will be there to help you and your dealer decide what changes may need made when you return to your dealership, tired but better educated and possibly a more well-respected member of the management team.