RouteOne eases dealer compliance burden by automating adverse action notification mailings
(January 22, 2015) — RouteOne has launched an Adverse Action Notice Mailing Service to help ease the compliance burden of dealers. The service automatically prints and mails notices to consumers based on a dealership’s compliance strategy.
“We developed this new service with input from our dealer customers and by observing the substantial effort it takes them to meet compliance requirements,” stated Mike Jurecki, RouteOne CEO. “Rather than relying on manual processes that are time consuming and difficult to enforce, we’ve provided an efficient way for dealers to automate adverse action notifications. Initial reaction has been strong with nearly 100 dealers subscribing in the short time the service has been available.”
The new service proactively monitors transactions conducted on the RouteOne platform for dealers that subscribe to it. For example, the service looks for transactions, such as unapproved credit applications, that match a dealer’s criteria for when an adverse action notice is needed. If a match is found, a notice is generated, populated with the required information and mailed as part of a weekly process. Dealers can also review and override individual transactions as needed, and audit overall activity with detailed reporting.
Dealers interested in the Adverse Action Notice Mailing Service can contact RouteOne at 866.768.8301.
RouteOne was formed in 2002 by Ally Financial, Ford Motor Credit Company, TD Auto Finance, and Toyota Financial Services to create a more streamlined credit application for automobile dealers and their customers. Providing access to thousands of dealers in North America, RouteOne’s web-based system allows automotive dealers to submit credit applications to the largest indirect finance sources, request credit reports, and increase profitability with RouteOne’s free Dealer Reporting Suite. RouteOne’s open integration business model also allows the dealer to integrate with their choice of a wide variety of best-in-class providers, including DSPs, CRM systems, F&I modules, and menu providers. RouteOne offers dealers a common platform for all their credit application financing needs. More information is available at www.routeone.com.