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2014-12-16 Workhop Profiles

BHPH Best Operating and Compliance Practices Conference

Dual-Track Workshop Profiles - January 18-20, 2015


The NABD BHPH Best Operations and Compliance Practices Conference features 11 dual-track interactive workshops covering practices, tips and techniques every BHPH operator can use to compete more successfully today. The tracks are concurrent and provide important information on best operating and compliance practices. If you brought two or more attendees, we encourage you to participate in both tracks. Bring your questions and get answers during these interactive sessions.

After the workshops, you can see all the latest products and services in our "sold-out" Exhibit Hall. The workshop sessions begin at 2:00 PM on Sunday afternoon and conclude at 6:00 PM on Monday. On Tuesday morning, the single-track General Education Sessions begin for all attendees and the Conference will conclude by 1:00 PM to facilitate return travel by attendees.

Conference Workshop Profiles

Sunday, January 18, 2015 – Track 1

"How to Succeed in BHPH Today"

2:00 PM – 2:45 PM

In this session, Ingram Walters explains the critical decisions you must make to succeed in BHPH today. Whether you have been in the business for several years or are just starting out, this session will help you avoid fatal mistakes that could cost you millions of dollars. NABD has included a "Critical Decisions Checklist" in this Workbook for your reference after the Conference. You will get the answers to all these critical decisions during this Conference. Your first critical decision is to attend this session!

"Website Best Practices"

3:00 PM – 3:45 PM

Online marketing plays an important role in BHPH success today. Given increased competition, operators must retain and regain their best customers. Michael Jackson of Auto Search Technologies, a leading developer of BHPH web sites, will discuss tips and best practices from the most successful sites. Michael is a nationally recognized expert on search engine optimization and will show you how to improve your online placement. Don't miss this session if you want to dominate online!

"Competing Successfully for the Best Customers"

4:00 PM – 4:45 PM

Would you like to increase your annual profits by at least $100,000 for just a few weeks' worth of work? How are you going to set yourself apart now that tax season is here? Bill Neylan with Tax Max will discuss how to attract and sell customers, steal market share, increase revenue, and reduce overall risk over the next 2-6 weeks. This session will also discuss the importance of capturing that all-important tax refund customer before they spend their entire tax check within 24-48 hours of receiving it.

"Selling Contracts - What to Consider"

5:00 PM – 6:00 PM

An important and often overlooked source of capital is the sale of contracts from your portfolio. Even a long distance runner takes a drink along the way and maybe BHPH operators should do the same! Learn about the recent changes in the market. How can you get the highest price for your contracts? What are the typical recourse provisions and best ways to handle them? What business model brings the best price? A panel of leading contract purchasers explains what they are looking for. If you want to find "the gold" in your portfolio, don't miss this session!

Sunday, January 18, 2015 – Track 2

"Compliance Management Systems - What's Needed?"

2:00 PM – 2:45 PM

The term "Compliance Management System" or CMS is one the BHPH industry is increasingly hearing about. What exactly is it? Why should BHPH dealers care about it? How does a BHPH get one? These are the types of questions we’ll be answering at this session. We’ll talk about why it’s important to have one, what the different components of one are and how to establish one. The CFPB is expecting that BHPH dealers have a CMS – come find out more about them! Patty Covington of Hudson Cook, LLP is here to give you the answers during this session.

"IRS Update"

3:00 PM – 3:45 PM

In this session CPA's Ken Shilson and Steven Goldberg (specialists in BHPH tax matters) will update you on all the latest IRS issues. Audits of used car dealers have increased dramatically during the last twelve months and you must be prepared. What are they looking for? How can you prepare? Does an RFC increase your audit risk? Should you issue 1099c's? When should you deduct bad debts? Bill Neylan with Tax Max will explain why the tax refund season has changed and what you should expect in 2015. In this session you will get tax answers - without an invoice!

"Handling Customer Complaints Efficiently and Effectively"

4:00 PM – 4:45 PM

As the CFPB begins its oversight and investigation of the Buy Here Pay Here industry, dealers must institute a Compliance Management System. One of the elements of such a program is a consumer complaint protocol. BHPH dealers should have a written plan and procedure to 

resolve consumer complaints. Even if the CFPB didn’t exist, such a protocol helps a BHPH dealer avoid problems and avert potential for regulatory intrusions, private lawsuits, and monetary damages. In addition, resolving complaints helps operators retain good customers. This session will review this issue, and provide efficient, common-sense solutions.

"Payment Device Compliance Training"

5:00 PM – 6:00 PM

Are you using a Payment Assurance or GPS Device now? Do you understand the applicable state and federal laws? Corrine Kirkendall of PASSTIME and Eric Johnson, attorney for Hudson Cook, LLP will answer your questions about disclosure, compliance, and the internal controls you need over these devices. The CFPB and FTC are closely monitoring the use of these devices by dealers, so you want to understand the issues and what they expect. These devices mitigate losses but must be used properly to avoid regulatory challenges. This session will help keep you out of regulatory problems when using these devices.

Monday, January 19, 2015 – Track 1

"How to Read an Automotive Customer's Credit Report"

9:00 AM – 9:45 AM

In the highly competitive subprime auto finance market of today you need to identify the good customers from the bad. Jennifer Reid of Equifax will explain what you can learn about a prospective customer and how to interpret the credit information in an automotive credit report. These reports are a vital resource in validating customer stipulation information gathered during the underwriting process. Equifax and NABD have recently conducted a survey on the use of credit reports in BHPH, which will be discussed in this session. If you aren't running credit bureau reports, you should be. This session will show you why!

"Acquiring the Right Inventory"

10:00 AM – 10:45 AM

Brian Geitner, President of NextGear Capital, the nation's largest floor planner, will explain the changes in the used vehicle inventory market. Learn what tools are available to source the best vehicles for your inventory. Brian will explain how to utilize floor plans properly and why they are such an important part of your capital structure. The used vehicle market has changed and you need to understand why by attending this session. You can't sell them until you acquire them! This session is a must-attend!

"Payment Devices and BHPH Customers"

11:00 AM – 11:45 AM

NABD has conducted three national surveys covering the use of payment devices and authored three "white papers" on the findings. Our conclusion is that there are two types of operators in the BHPH industry: those who already use these devices and those who should be! A panel of leading experts will explain why NABD reached this conclusion. Your workbook contains a payment device checklist to help guide you through the decision process after the Conference.

Are you using the right device now? How can you improve your collection results and efficiency? Attend this session and you will get these answers.

"Monitoring Performance / Benchmarks Update"

2:30 PM – 3:15 PM

NABD founder and President of Subprime Analytics, Ken Shilson, CPA, will explain the latest trends and patterns in the BHPH market during 2014. When does less really equal more? Where is the competition coming from? What can you do to retain and regain customers? Ken has compiled new lease here, pay here benchmarks, which will be disclosed for the first time! How does a LHPH model perform relative to traditional BHPH? Is it the "silver bullet"? If you are using LHPH now, or considering it in the future, don’t miss this session. After the Conference, use the updated benchmarks to evaluate your own 2014 performance against your peers. Get prepared for 2015 by attending this workshop.

"Lowering Reconditioning Costs"

3:30 PM – 4:15 PM

Lee Fitts of AutoZone and Kris DeWolfe of Alldata will discuss ways to reduce parts costs and reconditioning expenses. Learn how to incorporate a vehicle repair history into your acquisition decisions. Should you use salvage or new parts when reconditioning? Why? How do the costs differ and how do warranties affect your decision? With down payments and repayments declining you must make every recon expenditure count. Controlling reconditioning costs is essential to BHPH success and in this workshop you will learn new ways to do it!

"Technology Solutions for Success!"

4:30 PM – 5:15 PM

A panel of technology experts will discuss all the latest developments that will make you more efficient and profitable. Learn how integrated DMS solutions can make you more competitive in the challenging environment of today. What should you consider when selecting the right DMS software? NABD provides you with a comprehensive checklist that you can use as a reference after the Conference. Network with users and see all the latest products in our Exhibit Hall. If you are looking for new technology or considering a change, this session is for you.

"Capital Solutions - Lines of Credit / Floor Plans"

5:15 PM – 6:00 PM

"It takes money to make money," and the BHPH business is very capital intensive. Operators need lines of credit and floor plans to supplement internal cash flow and fund growth. What do these capital providers look for and how do you qualify? How much equity do you need? What advance rate can you expect? Capital is the gas that drives the BHPH engine so don't miss this session.

Monday, January 19, 2015 – Track 2

"Pursuing Recoveries - Yes or No?"

9:00 AM – 9:45 AM

Nationally recognized manhunter Ron Brown will moderate a panel of the nation's leading recovery experts. Learn how to stay compliant while maximizing recoveries. "When the vehicle stops running, customers stop paying." However, don't let them "walk away" from their contractual obligations! Industry losses are increasing, so you must mitigate them with an improved recovery operation. In this session, you will learn from the best in the business. You can't afford to ignore recoveries, or to miss this workshop!

"Technology Compliance Solutions"

10:00 AM – 10:45 AM

Technology is the foundation for a good compliance management system. In this session, you will learn why your DMS must be the "hub" of the compliance wheel. What can your DMS provider do to help you get compliant? Can you utilize payment devices without the fear of adverse regulatory problems? Can you rely on your DMS provider to give you compliant forms? What is your responsibility? This session will focus on how to utilize technology to implement an efficient BHPH compliance system.

"Handling a Regulatory Investigation / Responding to a CID"

11:00 AM – 11:45 AM

We are pleased to have Gerald Sachs, who is of counsel in the Global Banking and Payment Systems practice at Paul Hastings' law firm in Washington, D.C., conduct this session. Prior to joining this firm, Paul was Senior Counsel for Policy and Strategy of the Consumer Financial Protection Bureau (CFPB). At the CFPB he assisted the office with strategic planning, internal policies and procedures, coordinating state and federal regulators, and directing supervisory exams that focused on auto finance. In this session, you will learn how to respond to an investigatory demand. What are your rights and how can you protect yourself? Given the current regulatory environment, this session is a must-attend!

"Regulatory Update"

2:30 PM – 3:15 PM

Nationally recognized attorneys Tom Hudson and Shaun Peterson join NIADA Executive Director Steve Jordan to discuss all the latest regulatory developments during an interactive panel discussion. What are industry leaders doing to protect the interests of BHPH? What should you be doing to avoid regulatory scrutiny? What new regulatory challenges should you expect in 2015? How does the large participant role impact BHPH? What's next? You won't need a crystal ball if you attend this session.

"Legal Q&A - Fair Lending Practices"

3:30 PM – 4:15 PM

A panel of legal experts including nationally recognized attorneys Tom Hudson and Shaun Peterson discuss fair lending practices which are on the regulators' "hot list". Former regulator Chris Larche (who recently joined the compliance team of Equifax) and Ron Brown, ACA Director and recovery expert, are on this panel. During this session these experts will discuss and answer your questions on laws, regulations, and policies including the Equal Credit Opportunity Act (ECOA), Fair Debt Collection Practices Act (FDCPA), and other applicable regulations you need to understand in order to avoid regulatory pitfalls. You can't afford to make legal and regulatory mistakes in 2015!

"Add-On's - Regulatory Challenges"

4:30 PM – 5:15 PM

Add-on products like CPI and service / warranty contracts provide valuable benefits to your customers. Despite their value the regulators are scrutinizing disclosure, market penetration, and pricing. In this session CPI expert Chris Kirwan and attorney Gerald Sachs will discuss the things you must know if you are using these products in your operations. What can you and can't you do to avoid regulatory challenges? What is the future of these products and what comes next? This session will give you the answers!

"Compliance Best Practices - A Different Perspective"

5:15 PM – 6:00 PM

A panel of industry compliance officers and experts will provide practical tips and techniques to help you get compliant now. This panel includes operators both large and small so every operator can relate to their suggestions and comments. This session is interactive so you can ask questions and get different responses. What tools are available to get you started? How expensive will compliance be? What is the cost of non-compliance? Does the CFPB care about small, remotely located operations? Can you ignore compliance until a regulator contacts you? How do these experts deal with customer complaints? In this session, learn how to get BHPH compliant now!