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#933095 - 03/31/08 03:38 PM Referrral Fees and Auto Loans
taknleavofmysenses Offline
100 Club
Joined: Nov 2005
Posts: 183
USA
Does anyone know of an Illinois law that would prohibit us from paying an automobile dealer a referral fee for forwarding car loan business to us and the borrower paying that fee out of the loan proceeds?

Thanks you.

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#944314 - 04/17/08 04:23 PM Re: Referrral Fees and Auto Loans taknleavofmysenses
Dave M_TCA Offline
Platinum Poster
Dave M_TCA
Joined: Oct 2000
Posts: 686
Wherever my most benevolent em...
I asked our indirect auto guy and he said there is nothing that he is aware of, but that it is not a standard practice.
_________________________
David J Mulkerin, CRCM
All opinions expressed are mine and not those of my employer and are not to be taken as legal advice.

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