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HANOVER, Md. — The recent Consumer Financial Protection
Bureau bulletin focused on dealer reserve, an element that usually doesn't
affect most buy-here, pay-here stores.

But Hudson Cook's legal team recommended that BHPH dealers
keep watch on developments as the agency continues to ramp up its look at auto
lending.

After reviewing the guidance, firm chairman Tom Hudson said,
"That part of the industry certainly needs to see what the bureau is doing
here.

"In that part of the financing world (BHPH), finance
companies don't pay dealer participation," Hudson continued. "It works exactly
the opposite that finance companies buy contracts at a discount. This sort of
guidance doesn't apply very well to that model. But I think what we'll see is
the bureau will figure out other ways to analyze those models."

SubPrime Auto Finance News shared more analysis of the
bulletin here.

Hudson Cook likely will be discussing this topic and more
during this year's National Alliance of Buy-Here, Pay-Here Dealers National
Conference at the Wynn in Las Vegas on May 21—23. The event's theme is "Operating
Successfully in the Current BHPH Environment."

A breakout session on compliance and regulatory issues and
solutions is one of a dozen on tap for this year's event. The program features 12
concurrent workshops also covering:

—Accounting/tax update

—Capital

—Finding the best customers

—DMS systems

—Inventory acquisition and reconditioning

—Maximizing recoveries

—Payment devices

—Interpreting customer credit reports

In addition, the single-track general education sessions
will feature a motivational and leadership presentation by Joe Gibbs, Hall of
Fame NFL coach and NASCAR racing organization champion.

Other general session presentations include integrating
special finance, a dealer best practices panel, current developments,
benchmarks and trend information, and how to implement a compliance management
system.

The general sessions conclude with an open forum for all
attendees to discuss important operating best practices, strategies and
compliance topics.

An agenda is available online at www.bhphinfo.com.

NABD has secured $179 per night room rates at the Wynn —
with no resort fees — while supplies last.

NABD also announced that it will hold its third annual BHPH
Dealer Training Academy at the Wynn on May 19—21 prior to the National
Conference.

The Academy is designed to provide comprehensive BHPH
training for those new to the industry, key employees seeking to expand their
knowledge, and operators "who are really serious" about improving performance,
according to NABD founder Ken Shilson.

Space at the Academy is limited so interested attendees are
encouraged to register soon in order to obtain early registration discounts.

Continue the conversation with SubPrime Auto Finance News on LinkedIn and Twitter.


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