January 8, 2020
Partner Eric Johnson gives BHPH predictions for 2020
BHPH Report, a publication for the pre-owned industry, recently published 2020 predictions for the industry, gathered by Dealer Profit Pros president Kenny Atcheson. Partner Eric Johnson joined five other industry professionals in giving dealers several things they should be thinking about and planning for in the upcoming year.
Eric spoke about the Consumer Financial Protection Bureau Director Kraninger's continued top priority of consumer education, although he cautioned that the supervision and enforcement staff will continue its regulation by enforcement. Eric warns dealers that continued Congressional pressure on the Bureau could lead to more consumer refunds and enforcement actions in 2020. He also noted that lawsuits involving the Americans with Disabilities Act (ADA) will increase, particularly relating to website accessibility.
Eric Johnson assists national and state banks, savings associations, credit unions, mortgage bankers, other licensed lenders, motor vehicles dealers and automotive finance companies in the development and maintenance of nationwide consumer mortgage and automobile finance programs; online motor vehicle sales programs; litigation funding programs; and electronic payment programs.
Click here to listen to Eric's predictions.