Tag: John Pappanastos

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EFG Companies Enables Dealers to Achieve Greater Compliant Profitability with Common Sense Compliance

Compliance Platform Breaks Through Legalese with Practical, Actionable Information

Common Sense ComplianceEFG Companies, the innovator behind the award-winning Hyundai Assurance program, today announced the launch of the company’s Common Sense Compliance® platform. The Common Sense Compliance platform was designed to ease the challenges facing retail automotive dealers and take the difficulty out of compliance by presenting the principles of compliance in an easy-to-understand manner, using layperson language with practical recommendations. For more information, visit http://bit.ly/2mjbvlI.

“We are in a period of immense change, with shifting consumer demands, a technology revolution and increased compliance oversight,” said John Pappanastos, President and CEO of EFG Companies. “This Common Sense Compliance platform better enables us to help dealers take ownership of the management of a compliant yet profitable business. At EFG, we pride ourselves in advancing the industry through our client engagement model.  This platform marks another step towards achieving that goal.”

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EFG Companies and Northwood University Announce F&I Innovator of the Year Competition Winner

Team Vigilance Meets Consumer and Dealer Demands with 401Karrs

EFG Companies, the innovator behind the award-winning Hyundai Assurance program, together with Northwood University, today announced the selection of Team Vigilance as the winner of the 2016 Innovator of the Year Award competition, and the recipient of $25,000.

Team Vigilance utilized their millennial mindset, ongoing dealership research, and F&I mentor input to create “401Karrs”. The product addresses Millennial and Gen Z concerns around financial security, and delivers on dealership goals around customer retention. In addition to the team’s monetary reward, they will potentially see 401Karrs developed by EFG for market availability. Team Vigilance is made up of three team members:

  • Alec Bond from Lindin, MI
  • Houston Huff from Tuscon, AZ
  • Lucas Myrhe from Austin, TX

“We want to thank all the teachers and mentors from this competition and across Northwood who’ve been a huge inspiration and motivation throughout this project,” said Lucas Myrhe.  “With their guidance, we were able to deliver a product that is beneficial to customers and dealerships, increasing dealership profit, retention, and customer satisfaction.”

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Compliance Featured

EFG Companies Advances Compliance Initiative with Consumer Credit Compliance Certification

Steve Roennau Vice President Compliance EFG Companies
Steve Roennau
Vice President
Compliance
EFG Companies

EFG’s Compliance Oversight Rated as Top Area of Performance by Dealer Partners

EFG Companies, the innovator behind the award-winning Hyundai Assurance program, today announced the Consumer Credit Compliance Certification of EFG Compliance Vice President, Steve Roennau.

The National Automotive Finance Association (NAF) specifically designed the Consumer Credit Compliance Certification Program to address the challenges faced by consumer finance companies in maintaining legal compliance in an environment characterized by ever-changing federal and state regulatory requirements. It provides compliance professionals with a deep working knowledge of the federal laws and regulations that govern consumer credit along with an overview and general examination of state consumer credit law.

naflogoCoupled with EFG’s AFIP certification of its dealer services field team, this certification further demonstrates EFG’s commitment to addressing the number one “stay-awake” issue for dealers. Going forward, EFG will utilize these certifications to help its clients create a governance model to assure ongoing compliance. This will include acting as a facilitator, training on compliance best-practices, educating clients on the magnitude of what lenders are facing, and preparing them for future compliance initiatives.

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