Wolters Kluwer Financial Services Partners with CNCDA to Offer Installment Contracts
MINNEAPOLIS — Wolters Kluwer Financial Services recently announced that it has partnered with the California New Car Dealers Association to develop and market Wolters Kluwer Financial Services' automotive retail installment sale contracts.
The company noted that it markets its retail contracts under the Bankers Systems brand name.
Form Source, the forms reseller division of the CNCDA, will offer the new paper contracts for sale to its 1,350 member dealers. The contracts are also available in an electronic format through Wolters Kluwer Financial Services' Web-based DocOne document engine, or in a single laser printer format.
Monitoring regulatory changes that impact the motor vehicle industry can be cumbersome and time-consuming for auto dealers and lenders alike, officials pointed out.
Wolters Kluwer Financial Services' legal and compliance experts monitor these changes, helping relieve this burden facing the indirect lending market. Basically the company said its retail installment contracts are created and maintained using the in-house compliance content, which is built upon more than 50 years of experience and knowledge behind its Bankers System product line.
"Because of Wolters Kluwer Financial Services' regulatory monitoring capabilities, we are able to provide our members access to retail contracts that will help ensure their retail credit transactions meet stringent federal and California state laws, as well as the business needs of the dealership," said Peter Welch, CNCDA president.
"This is yet another way we can help our members find the tools and services they need to maintain and grow their business in a regulatory environment that is constantly changing," he continued.
Kevin Kopp, director of Indirect Lending at Wolters Kluwer Financial Services, added, "Wolters Kluwer Financial Services delivers the compliance expertise and tools needed to help lenders and dealerships meet changing regulatory needs, which allows them to focus on growing their business.
"Our partnership with the CNCDA will allow greater access to these tools for auto dealerships within the California market," he concluded.
For more information, visit www.WoltersKluwerFS.com.