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Learning Management System (LMS)

Get the required training your dealership needs to remain compliant with every transaction and avoid costly fines

Can you afford to pay penalties for non-compliance?

Dealers are fined millions of dollars every year for not following the proper government regulations around the accessing and handling of customer’s sensitive credit data.

As the largest reseller of credit reports from all three bureaus – Experian, Equifax and TransUnion – 700Credit has always strived to provide a comprehensive and automated compliance solutions to keep you compliant with every credit report pulled.

To further our efforts in providing the best compliance and risk mitigation services to our clients, we are pleased to introduce our new web-based, self-paced LMS which will provide the required training your dealership needs to remain compliant with every transaction and avoid costly fines.

This new training platform includes the

following 8 modules:

Adverse Action

This course helps to identify when information in a consumer report results in an adverse action and requires a proper notice to be provided to the customer as required by the Fair Credit Reporting Act (FCRA) and Equal Credit Opportunity Act (ECOA).

IRS Rule 8300

This course helps identify which transactions are considered cash transactions that require submission of an IRS Form 8300.

Paper Flow

This course reviews the importance and necessity of properly handing and retaining paperwork as required by GLB and the FTC Safeguards and Disposal Rules.

Privacy

The goal of this course is to provide you with enough information so that you will know how to protect customers’ non-public information (NPI) as required by the Gramm-Leach-Bliley Act (GLB).

Red Flags Rule

This course helps dealership employees identify the red flags of identity theft and fraud, and to help prevent fraudulent conduct.

Risk Based Pricing Rule

This course describes the risk-based pricing rule and best practices you need to follow at your dealership to comply.

UDAAP

Unfair, Deceptive, or Abusive Acts or Practices (UDAAP)

This course provides information on avoiding acts and practices that can be unfair, deceptive, or abusive – and illegal.

OFAC

This course will help your dealership comply with the Office of Foreign Asset Controls (OFAC) requirement that car dealers check customer names against a database of known dangerous organizations and individuals.

This LMS meets the guidelines set forth by the 3 major credit bureaus on the rules and regulations all business must follow when pulling a credit report and is required for every dealership that uses our credit report solution.

Additional Compliance Training Courses

In partnership with ComplyNet, 700Credit is offering dealerships additional training courses that cover other areas
of compliance that are useful for their business. “FE” courses are available for $299/month/store for up to 20 users.
Please contact us for “BE” course pricing.

GCA FE courses include:
  • An assigned compliance consultant to guide the sales and finance departments to a culture of compliance
  • On-demand access to compliance consultants for compliance-related questions
  • A cloud-based compliance management system
  • Online assessments
  • Written policies and procedures
  • Virtual compliance meetings hosted by a compliance consultant
GCA FE Courses

 

GCA FE Course Name

Description

CAN-SPAM

How to comply with the CAN-SPAM Act when sending unsolicited business emails and text messages

Cooling-Off Period

This course identifies vehicle transactions that could constitute "door to door" sales that provide a consumer with an opportunity to rescind the transaction after a "cooling off period"

Co-Signor Notice and Late Fees

This course explains the proper notices that must be provided to co-signors for joint and several liability on an obligation

Disparate Pricing

This course identifies how offering varying pricing and interest terms can have a disparate impact that is discriminatory and illegal, and how to avoid engaging in such disparate conduct

Disposal Rule

This course explains the proper ways of disposing of customer information that is no longer needed for legitimate business purposes

Do Not Call

This course describes how to comply with the Telemarketing Sales Rule using the Do Not Call Registry

Ethics

This course identifies conduct that is considered unethical and how to avoid such conduct

ECOA Reg B

This course identifies the obligation that applies under the Equal Credit Opportunity Act and Regulation B

FCRA

This course identifies the obligations that apply under the Fair Credit Reporting Act

Financial Privacy Rule

This course identifies how financial institutions can collect and disclose customers' personal financial information

First Payment Pencil Quotes

This course discusses the proper way to use first payment pencil quotes when negotiating a vehicle transaction

Fraud Alerts

This course discusses the importance of identifying and properly responding to fraud alerts on a credit report

GAP

The course identifies the nuances between various GAP waiver products and GAP insurance products

Holder in Due Course Rule

This course identifies the necessary disclosures that must be made to a consumer for assigned credit contracts under the Holder in Due Course Rule

Non Public Information

This course identifies what constitutes non-public personal information that requires protection under the FTC Safeguards and Disposal Rules

Red Flags Rule

The course identifies identity theft protection obligations under the Red Flags Rule and methods for complying

Regulation M

This course identifies the disclosure requirements under Regulation M when advertising and leasing a motor vehicle

Regulation Z

This course identifies the disclosure requirements under Regulation Z when advertising and selling a motor vehicle

Safeguards Rule

This course identifies how the safeguards that must be taken by financial institutions to protect customer information

Used Car Rule

This course identifies the FTC Buyers Guide posting and notice requirements when offering a used motor vehicle for sale

Vehicle Insurance

This course discusses the vehicle insurance standards that may be required by lienholders and lessors

GCA BE Courses

 

GCA BE Course Name

Description

Hazard Communication

This course provides fixed operations employees information about the hazards, conditions, and chemicals that they may be exposed to in the work environment; safety data sheets; personal protective equipment; and appropriately reacting to a hazardous situation

General Safety

Training employees on the inherent dangers present at automotive facilities

Lift Safety

This course is for automotive service center workers on how to properly operate various vehicle lifts

Safe Driver

This course focuses on the safe operation of motor vehicles

Bloodborne Pathogens

This course discusses preventing and reacting to potential exposures to microorganisms in the blood that can cause infectious diseases

DOT Hazardous Material

This course trains fixed operations employees in properly shipping, receiving, transporting, and handling hazardous materials

DOT HazMat for Haz Waste & Disposal

This course discusses properly managing, storing, and handling hazardous materials at automotive facilities

Spill Prevention Countermeasure and Containment

This course fulfills the Environmental Protection Agency's requirement for automotive facilities regulated by the Clean Water Act, and the best practices for spill control for fixed operations employees 

Forklift Operation

The course provides you with important information about operating a forklift safely.  Before operating a forklift on your own, you must first become certified.  Certification requires practical training and a successful practical evaluation under the direct supervision of a person who has the knowledge, training, and experience to train forklift operators and to evaluate competence.

What our Customers are Saying

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I really like the new compliance-based learning management system that 700Credit provides us at the dealership. The courses provide a lot of valuable information that was new to me at the dealership. I will start to incorporate all the newly learned best practices into our current compliance practices. It is also great that I can always retake and refresh myself throughout the year. I strongly recommend this for all dealerships.

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5
Meagan Jensen
Finance Manager
Young Powersports Centerville

Ready to get control of compliance?

700Credit stands ready to help your dealership succeed. Fill out our questionnaire and a member of our team will reach out to you shortly.

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I really like the new compliance-based learning management system that 700Credit provides us at the dealership. The courses provide a lot of valuable information that was new to me at the dealership. I will start to incorporate all the newly learned best practices into our current compliance practices. It is also great that I can always retake and refresh myself throughout the year. I strongly recommend this for all dealerships.

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5
Meagan Jensen
Finance Manager
Young Powersports Centerville
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