From his perspective as National Vehicle Leasing Association president, Tarry Shebesta recently pinpointed two main issues facing his constituency coming out of the conferences in Las Vegas hosted by other trade organizations.

After spending 11 days in Las Vegas mingling with other attendees at the respective conferences hosted by the American Financial Services Association and National Automobile Dealers Association as well as the AIMExpo that focuses on the powersports market, Shebesta said the common message involved the proposed CARS Rule from the Federal Trade Commission and fraud prevention.

“Fraudulent loan applications were among the most common types of identity theft related complaints,” Shebesta wrote in a blog post on the NVLA website. “With the increasing digitization of the auto financing process, there are emerging concerns about digital fraud, including online identity theft. However, advances in fintech and analytics give lenders powerful tools to identify and help prevent auto loan fraud.

“NVLA is also following the recent FTC CARS rule that is scheduled to take effect this summer,” he continued. “Although primarily aimed at dealers, lenders and leasing companies need to be familiar with how it affects quoting monthly payments. More updates and communication from NVLA will be forthcoming.”

Shebesta reiterated that NVLA is remaining diligent to help members with these matters along with compiling other resources to help their businesses.

“Our NVLA Education Committee is working hard on an educational program for lenders and dealers to help increase their lease penetration in the marketplace. Franchise dealers should aspire to a 90% lease penetration. If not, NVLA will provide an education program later this year that will help you achieve these goals,” Shebesta said.