Implementing the Consumer Leasing Act/ Regulation M Initiative for Auto Dealerships

If you engage in lease transactions, you must comply with The Consumer Leasing Act and its implementing regulation, Regulation M. Regulation M is primarily a disclosure law that sets forth the federal disclosure requirements for leases. Even the slightest variation from these federal disclosure requirements can create expensive compliance problems for the company.

Implementation Steps in this Guide

1. Edit and Distribute the Consumer Leasing Act/ Regulation M Policy

2. Distribute the Consumer Leasing Act/ Regulation M Assessment

Edit and Distribute the Consumer Leasing Act/ Regulation M Policy

Edit the policy

1. Click on the Library tab
2. Search for "Consumer Leasing Act/ Regulation M Policy" and click on it
3. Click on the Edit button to view the list of versions
4. Click Create Draft to the right of the latest published version
5. Click Edit next to the Draft version that you just created
6. Make desired changes to the policy
7. Click Publish when you have finished editing the policy

Schedule the activity for distribution

1. Click on the Workspaces tab
2. Click on the Consumer Finance workspace
3. Click on the Consumer Leasing Act/Regulation M initiative
4. Click on the Consumer Leasing Act/ Regulation M Policy
5. Click on Groups and assign to the appropriate groups, such as management, controller, sales, finance and insurance, and anyone who participates in the sales process.
6. Click on Schedule and set an annual schedule based on the Hire Date. We recommend that you set the Immediate Distribution option to Yes. 
7. Click Save

Distribute the Consumer Leasing Act/ Regulation M Assessment

Schedule the activity for distribution

1. Click on the Workspaces tab
2. Click on the Consumer Finance workspace
3. Click on the Consumer Leasing Act/Regulation M initiative
4. Click on the Consumer Leasing Act/ Regulation M Assessment
5. Click on Groups and assign to the appropriate groups, such as management, controller, sales, finance and insurance, and anyone who participates in the sales process.
6. Click on Schedule and set an annual schedule based on the Hire Date. We recommend that you set the Immediate Distribution option to Yes. 
7. Click Save