Wolters Kluwer Financial Services Introduces CompliSource for Buy Here, Pay Here Dealer Financing
Compliance Tool Helps BHPH Dealers Manage Laws Governing Financing and Collection of Motor Vehicles
Baton Rouge, LA (Mar. 22, 2010) – Wolters Kluwer Financial Services has added a new resource for buy here, pay here (BHPH) auto dealers to its CompliSource solution, an online tool for managing compliance with the state laws that govern direct and indirect lending.
CompliSource for Buy Here, Pay Here Financing offers comprehensive compilations of information available about current state laws and regulations, as well as pending legislation, related to the financing and collection of motor vehicles by BHPH dealers. CompliSource provides interpretive summaries of the laws and links to the complete statutory text. Content is continuously updated by Wolters Kluwer Financial Services’ dedicated team of legal and compliance professionals and covers various topics, including requirements surrounding licensing, repossession, third-party liens, lien perfection and debt collection.
“By offering information specific to buy here, pay here financing, we can help more dealerships understand what they must do to remain compliant, enabling them to proactively address new laws and regulations,” said Lee Domingue, CEO of Indirect Lending at Wolters Kluwer Financial Services. “This in itself can subsequently reduce the amount of time and money spent tracking legislative changes, and help minimize risks for litigation and costs for outside legal counsel.”
For more information about CompliSource for Buy Here, Pay Here Financing, visit www.wolterskluwerfs.com/complisource.
About Wolters Kluwer Financial Services
Wolters Kluwer Financial Services provides best-in-class compliance, content, and technology solutions and services that help financial organizations manage risk and improve efficiency and effectiveness across their enterprise. The organization’s prominent brands include Bankers Systems, VMP® Mortgage Solutions, PCi, AppOne®, GainsKeeper®, Capital Changes, NILS, AuthenticWeb™ and Uniform Forms™. Wolters Kluwer Financial Services is part of Wolters Kluwer, a market-leading global information services company focused on professionals with annual revenues (2009) of €3.4 billion ($4.8 billion), approximately 19,300 employees worldwide and operations in over 40 countries across Europe, North America, Asia Pacific, and Latin America. Visit our website, YouTube or follow @Wolters_Kluwer on Twitter for more information about our market positions, customers, brands, and organization.