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EFG Companies Featured

Enterprise Financial News Volume 13

Dealer Blog EFN CoverHot Off The Press

Get a new perspective on how to maximize your dealership profitability while staying compliant with the experts from EFG Companies.

EFG Companies knows how to turn your entire team into an F&I and sales driving machine! Contact us today to find out how.

Download the 13th volume of Enterprise Financial News Magazine.

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EFG Companies Featured

EFG Companies Receives National Recognition for Holistic Approach to Customer Service and Client Development

EFG Honored with Gold American Business Award and BenchmarkPortal Top Contact Center Designation

Last week, EFG was recognized in the 15th Annual American Business Awards, receiving:

  • Gold in Communications Department of the Year
  • Bronze in Communications or PR Campaign of the Year under the Reputation/Brand Management Category
  • Bronze in Marketing Campaign of the Year under the Financial Products and Services Category

With more than 3,600 entries this year, the American Business Awards is the nation’s premier business awards program. More than 190 professionals worldwide participated in the judging process to select this year’s award winners. These judges found EFG’s campaigns and initiatives to be comprehensive, measurable, and holistic.

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Compliance

CFPB Upheaval

Contributing Author: Steve Roennau Vice President Compliance EFG Companies
Contributing Author:
Steve Roennau
Vice President
Compliance
EFG Companies

The Consumer Financial Protection Bureau (CFPB) had a busy first quarter of 2017 defending itself. In Q4 of 2016, the U.S. Court of Appeals for the District of Columbia ruled the CFPB “unconstitutionally structured”. In Q1 of this year, the CFPB began the appeal process and it’s not looking too good for them.

Among those supporting the unconstitutional ruling are:

  • The Department of Justice (DOJ)
  • 15 state Attorneys General
  • American Financial Services Association (AFSA)

The DOJ stated that the ruling should be upheld in its entirety, including the remedy to give President Trump full authority to remove the CFPB’s director at will. In addition, the AFSA submitted a list of other suggested regulatory reforms for the CFPB to the Trump administration.

While the CFPB has been granted a rehearing of the initial case that determined the unconstitutional ruling, the regulatory agency has still had its powers significantly curbed, specifically in the case of Texas Department of Housing and Community Affairs v. Inclusive Communities Project, Inc.

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