Terry O’Loughlin, director of compliance for Reynolds Document Services, is now a Hall of Famer.

Reynolds and Reynolds highlighted this week that O’Loughlin has been inducted into the F&I Hall of Fame by the Bobit Dealer Group.

During the inductee selection process, the committee considered seven criteria, of which Reynolds said that O’Loughlin is a prime example, including:

—Innovation and impact

—Leadership and vision

—Ethics and integrity

—Educational and mentorship contributions

—Regulatory and policy influence

—Community and societal impact

—Career longevity and consistency

“It gives me great pleasure to congratulate Terry on this incredible achievement. We thank him for his dedication to ensuring dealerships have the tools they need to transact with their customers in a compliant and ethical manner,” Reynolds president Chris Walsh said in a news release.

O’Loughlin’s contributions to innovation and impact have led to significant improvements. He participated in redrafting the LAW 553 Retail Installment Sale Contract, arbitration and non-arbitration versions, for all 50 states. He also drafted and redrafted a generic suite of all the consumer-facing documents needed to underwrite a vehicle transaction for dealers.

This suite numbers more than 30 documents and has been the basis for Reynolds’ state-specific suites, which are now offered in all states. He drafted the LAW Universal Lease Contract as well.

Reynolds mentioned that O’Loughlin’s leadership and vision helped him garner acceptance of both universal and custom forms from captive finance companies, financial institutions, and credit unions, positioning the industry at large for future success.

As an investigator for the Florida attorney general’s office, O’Loughlin got his introduction to the car business in 1990 and soon became the state’s point of contact for almost all dealer complaints.

In 1994, he drafted Florida Statute, Chapter 521, Motor Vehicle Lease Disclosure Act, the first lease disclosure statute of its kind, providing basic disclosures. It became law in 1995 and was emulated in other states.

O’Loughlin’s track record of contributions to the education and professional development of others spans more than 30 years.

From a regulatory and policy influence standpoint, Reynolds pointed out that O’Loughlin’s contributions to the development, reform, and interpretation of laws and regulations affecting the finance and insurance industry have been significant. They’re embodied in his membership on:

—The Board of Governors of the Conference on Consumer Finance Law

—The Consumer Financial Services Committee, ABA

—The State Government Affairs and Operations Committees, AFSA

—The Federal Reserve Board Lease Education Committee from 1997 to 2001

He was also an FTC Roundtable participant in 2011.

“Without a doubt, O’Loughlin’s lengthy career has had a positive impact on dealers and the automotive retail industry as a whole,” Walsh said. “His three-plus decades of service to both consumers and dealers has shown him to be a man worthy of honor in the F&I Hall of Fame.”

For this episode of the Auto Remarketing Podcast recorded in Las Vegas at last year’s Vehicle Finance Conference hosted by the American Financial Services Association, we shared another visit with O’Loughlin, who also is one of the industry’s great historians

O’Loughlin gave some historical context about how the Federal Trade Commission has approached automotive regulation.

Listen to the episode in the window below.