Proteris Compliance Solutions provides compliance services related to the sale and financing of finance and insurance (F&I) products in the automotive, marine, and powersport industries.
We review consumer contracts for guaranteed asset protection (GAP), vehicle service contracts (VSCs), prepaid maintenance plans (PPM), tire and wheel protection (T&W), key replacement, excess wear and use waivers (EWU), appearance protection, and theft protection. We also create and update minimum business requirements, consolidate consumer forms, and provide custom solutions for our clients.
When a consumer finances the purchase of a car, boat, or ATV and buys protection products (also known as ancillary products or optional products) as part of the purchase, those products are included in the financing of that car, boat, or ATV. This creates headaches for lenders because they need to ensure the contracts for those protection products comply with the lender’s minimum business requirements and applicable state laws. This process also creates headaches for providers of protection products because they are required to submit their consumer forms for review by each lender from which they want financing.
Proteris Compliance Solutions streamlines the consumer form approval process by acting as an outsourced compliance review of providers’ forms on behalf of lenders. Lenders that utilize our services can be comfortable knowing that they approve the financing of only those products that meet their standards. Providers that utilize our services can streamline the consumer form approval process by seeking the approval of various lenders at the same time through Proteris Compliance Solutions.
We provide the highest level of service to lenders and providers alike and we use fair and transparent pricing for our services. We are available to our lender and provider clients who want to discuss topics such as current regulatory priorities of the federal agencies and state regulators, new and proposed state laws, and industry standards for minimum business requirements or contractual language.
Our platform leverages technology to streamline consumer form submissions to lenders, consolidation of consumer forms by providers, updates to minimum business requirements, and more. Simplicity and efficiency are the central tenets of everything we do.
