MINNEAPOLIS — This week, Wolters Kluwer Financial Services launched
a new comprehensive fair lending training program targeted to the automotive,
recreational vehicle, marine and powersports dealer industry, one that's been
endorsed by the National Independent Automobile Dealers Association.

Developed as a response to increased lender pressure and
industry scrutiny of fair lending practices within the dealer marketplace, Wolters
Kluwer highlighted the training provides dealers with a comprehensive program
to educate finance department personnel and equip them with fair lending
standards needed to help them ensure compliance and maintain strong lender
relationships.

In March, the Consumer Financial Protection Bureau published
a bulletin regarding indirect auto lending and compliance with the Equal Credit
Opportunity Act. Since then, Wolters Kluwer mentioned the CFPB has issued
subpoenas in an expansive probe into indirect auto lending practices, and the Justice
Department is investigating dealers for their rate markup practices, hinting
that further legal action targeting dealers directly may be on the horizon.

Those developments prompted Wolters Kluwer to conduct a
great deal of analysis, discussion and concern within the network of dealers
and their lender relationships.

"While dealers generally fall outside the jurisdiction of
the CFPB, recent developments have made it clear the lenders they work with
will not escape the scrutiny of regulatory bodies which enforce ECOA compliance.
These lenders are certainly starting to exert pressure on dealers to find ways
to demonstrate that they are in compliance with fair lending regulations," said
Chip Zyvoloski, senior attorney for indirect lending with Wolters Kluwer
Financial Services.

"Our fair lending training is designed to help dealers
comply with the law, protect them from risk and at the same time provide them
with a way to demonstrate ongoing compliance to their lender relationships,"
Zyvoloski continued.

Wolters Kluwer highlighted the training program can educate
and test users on key fair lending regulations and provide them with a
customizable fair lending policy to use in their dealership for ongoing
operational compliance.

The company mentioned the program also can provide dealers
with a template to manage and track standard exceptions for demonstrating
compliance with exception policies to lenders.

NIADA leadership endorsed of the Wolters Kluwer Financial
Services fair lending training program.

"The NIADA holds extremely high standards for its
endorsements and its corporate partners. Being selected as an endorsed provider
of fair lending training is definitely an honor," said Brad Fleener, senior
director and general manager of indirect lending for Wolters Kluwer Financial
Services.

"With deep in-house expertise in this area, our training
will provide NIADA members with the information necessary to help them remain
compliant as well as build and maintain stronger lender relationships in the
process," Fleener continued.

NIADA senior vice president of member services Scott Lilja
added, "We are thrilled to have Wolters Kluwer as our newest endorsed NIADA
National Corporate Partner and Member Training Partner. They represent a
leading compliance training, documentation, software and services provider to
our member dealers, helping ensure their retail operations are prepared for the
ever changing and complex regulatory environment.

"This training opportunity is an excellent new member
benefit for our dealership members," Lilja went on to say.

Wolters Kluwer Financial Services' indirect lending business
monitors pending and enacted legislation that impacts the marine, RV and auto
finance and dealer markets.

The company's compliance documentation, software and
services help both lenders and dealers mitigate risk and ensure new laws and
regulations are embedded within their business operations.

For more information about the fair lending training program
visit www.wolterskluwerfs.com/dealers.

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