If you’re in the auto finance business, you know how tough it can be to keep up with all those regulations. Federal and state rules are always updating, and each one needs to be followed to the letter (literally) to keep things compliant. It’s not just about building trust with your customers by ensuring transparency and fairness in every communication, it is about avoiding hefty fines that could severely impact your business. 

Keeping track of every regulatory change manually? That can be a real headache. It usually involves a lot of back and forth with IT and legal teams, not to mention the hassle of updating communication templates every time a new regulation rolls out. There is a better way... 

We recently launched Compliance Hub+, a solution that has been specifically engineered to address the unique needs of the Auto Finance industry. Developed with the attorneys of Hudson Cook, LLP, the platform provides access to a suite of compliant letter templates essential for auto financing, such as Notices of Intent (NOI), Right to Cure (RTC), and Post-Sale Explanations. These templates are rigorously updated and reviewed by legal professionals, ensuring they meet specific industry regulations.  

Compliance hub+ facilitates the integration of regulatory updates directly into your communication processes. Here’s how it transforms your approach: 

Proactive Regulatory Updates: Our partner, Hudson Cook LLP, is proactive in identifying and managing statutory and regulatory requirements, so that you have access to the latest compliant templates, complete with redlines and detailed legal memoranda. No more frantic last-minute updates or fear of missing out on a new regulatory requirement. 

Customizable Templates: Besides offering standard compliant templates like Notices of Intent (NOI) and Right to Cure (RTC), Compliance Hub+ also allows you to customize other letter templates to better fit your specific needs. This customization is handled through an intuitive platform that simplifies content management, reducing your dependency on external IT support. 

Operational Efficiency: By cutting out the need for constant manual updates and reducing reliance on external vendors, Compliance Hub+ frees up your team to focus on what really matters—serving your customers and growing your business. Plus, less dependency on IT and external consultants means significant cost savings. 

Efficient Print and Delivery: When you choose Compliance Hub+, you're not just investing in superior communication compliance management; you're also streamlining your print and delivery processes. This comprehensive management of both content and logistics not only meets the immediate communication needs but also strategically positions your business to handle ongoing changes and updates in compliance requirements efficiently. 

Optimized Audit Trail and Reporting: Compliance Hub+ provides a thorough audit trail, tracking version history, edit/approval actions, and milestone processing. Users can use the bulk search function to locate and export any information required as a PDF. 

 So, if you want to make sure your auto finance communications are not only compliant but also clear and effective and delivered on time, it might be time to consider Compliance Hub+.

Interested to see how Compliance Hub+ works?