Indirect Lending
Practical Steps to Control Risk and
Avoid or Handle Dealer Conflicts
A NorthLegal Webinar
Recorded November 16, 2006

Program Description
Indirect lending has brought phenomenal growth and opportunity to credit unions and convenience to credit union members across the country. Few credit unions that have instituted indirect lending programs regret doing so.

At the same time, credit unions are experiencing unprecedented problems with automobile dealerships too, often (but not always) arising out of their indirect lending relationships. Fraud, undelivered titles, misunderstandings -- and litigation -- can cost credit unions tens of thousands of dollars and embarrassing publicity. Many of these losses are absolutely avoidable with careful planning.

Credit union attorney Eric North has spent more than 20 years assisting credit unions with, among other things, setting up indirect lending programs, negotiating dealer contracts, establishing lending policies, and enforcing credit union rights.  Prior to becoming an attorney his responsibilities as a consumer lender included reviewing and purchasing automobile sales contracts from dealers, and his responsibilities as the finance manager at an automobile dealership included preparing and selling those contracts to financial institutions.

On November 16, Eric will present a 90-minute webinar designed to help credit unions understand some of the risks inherent in purchasing indirect loans, and the steps they can take to minimize those risks and to increase their chances of recovery when problems arise!  This program is not offered to discourage indirect lending, but to help credit unions make wise choices and have productive partnerships when they engage in this business opportunity.  You will learn about:

• What the "Holder Rule" is, and how it affects you
• Important provisions to have in Dealer Agreements
• How to respond when conflicts with dealers arise
• Warning signs of faltering dealers
• Practical tips for limiting cramdowns in bankruptcy
• Limiting "preferences" in bankruptcy
• Preventing straw purchases
• Verification of Identity under the USA PATRIOT Act
• The advantages and disadvantages of establishing dealer relationships   through middlemen

and much more.

To register for this program, visit http://culaw.webex.com or just click here.  For additional information, contact The North Law Firm at 408.279.8800.

NOTE: This program is intended for employees of credit unions. If you are not a credit union employee, please contact The North Law Firm to obtain approval before registering.

Cost/Registration
The registration fee for this program is $125.00 per telephone/Internet connection if paid by credit card (online or by telephone), $135.00 if paid by check. (Checks must be received at The North Law Firm prior to the beginning of the program. Sorry, but we cannot invoice for this event.) For that single price, you may have as many participants as you wish listen (over a single telephone line and Internet connection) in a conference room or office! To register, click here or telephone The North Law Firm at 408.279.8800.

Regions Affected
This program is not state-specific, and will be important to credit unions from around the country.

Co-Hosts
Although credit unions from any state may attend this program, this program is jointly hosted by The North Law Firm and by the following organizations:

The Arizona Credit Union System
The California Credit Union League
The Delaware Credit Union League
The Hawaii Credit Union League
The Iowa Credit Union League
The Louisiana Credit Union League
The Massachusetts Credit Union League
The Mississippi Credit Union League
The Montana Credit Union League
The Nevada Credit Union League
The New Hampshire Credit Union League
The North Dakota Credit Union League
The Northwest Credit Union Collectors Council
The Credit Union Association of Oregon
The Pennsylvania Credit Union Association
The Rhode Island Credit Union League
The South Dakota Credit Union League
The Utah League of Credit Unions
The Utah Credit Union League
The Washingon Credit Union League
The West Virginia Credit Union League

(Credit unions do not have to be members of any of those leagues or associations in order to attend.)

How to Attend an Archived NorthLegal Webinar
To attend this program you will need access to an Internet connection and a PC with a sound card.  Both the audo portion and the video display are provided over the Internet. Here are the steps:

1.  Enroll online, by clicking the "Enroll / Attend" link at the top of this page.  You will need a credit card or a "coupon code" from NorthLegal.  After you enroll, an Access Code will be sent to the email address you provide.  (If you were provided with an Access Code by NorthLegal, you may go directly to Step 2.)

2.  After receiving an Access Code, click the "Program Materials" link at the top of this page to download the materials in PDF format. Contact NorthLegal to obtain the password needed to open the PDF file.

3.  After downloading the program materials, return to the "Enroll/Attend" link at the top of this page, scroll to the bottom, enter that Access Code," and click "Playback."

Contact NorthLegal Training and Publications if you have any questions or suggestions for improvement.

NorthLegal Training and Publications
20280 North 59th Ave., No. 115-334
Glendale, Arizona 85308

Telephone: 623.537.7150
Facsimile: 623.537.7921
Email: northlegal@culaw.com