Our Services
Could your dealership afford a fine or penalty in the $100,000s and the reputation risk of an advertising, sales or f&i compliance violation that a regulator or consumer attorney files against you? Could you remain in business if your customer data is wrongfully accessed or taken and you need to respond and remedy a data breach? The CFPB, FTC, and State Attorneys General have vehicle dealers in their headlights. Let us work with you to implement policies and best practices so your dealership is not the next headline in your community for failing to engage in fair and transparent practices or protect your customers.
Advertising
The FTC has brought over 40 dealer advertising enforcement actions since 2012 (all resulting in 20-year consent decrees and many resulting in six and seven figure fines) and State Attorneys General have brought many more. Let us review your advertising for compliance with FTC guidelines and regulations so you don't become the next target. If you have entered an FTC consent decree, it is even more important that you have your advertising reviewed as the FTC is watching.
The FTC has brought over 40 dealer advertising enforcement actions since 2012 (all resulting in 20-year consent decrees and many resulting in six and seven figure fines) and State Attorneys General have brought many more. Let us review your advertising for compliance with FTC guidelines and regulations so you don't become the next target. If you have entered an FTC consent decree, it is even more important that you have your advertising reviewed as the FTC is watching.
Data Security and Mitigating the Risk of a Data Breach
A security breach of your customer information is the biggest financial risk you face as a dealer. An Experian study found that 60% of small to mid-size business that experienced a data breach went out of business within six months. And three out of every five data breaches target small businesses. We can provide help with best data security practices to help reduce your chances of being the next victim and how to respond if you are. Randy spoke on this very issue at the NADA National Convention. With data breaches on the rise, there is no more important issue for your dealership.
A security breach of your customer information is the biggest financial risk you face as a dealer. An Experian study found that 60% of small to mid-size business that experienced a data breach went out of business within six months. And three out of every five data breaches target small businesses. We can provide help with best data security practices to help reduce your chances of being the next victim and how to respond if you are. Randy spoke on this very issue at the NADA National Convention. With data breaches on the rise, there is no more important issue for your dealership.
Required Consumer Notices:
Do you know when to send an adverse action notice? A risk-based pricing notice? What does your privacy notice look like? We can review this issue and help you become compliant. We can also help you with digital marketing notices and marketing campaigns so you don't fall out of compliance.
Do you know when to send an adverse action notice? A risk-based pricing notice? What does your privacy notice look like? We can review this issue and help you become compliant. We can also help you with digital marketing notices and marketing campaigns so you don't fall out of compliance.
FTC & CFPB Compliance:
The FTC has become increasingly active in bringing enforcement actions against dealers, adopting the CFPB's "regulation by enforcement" approach especially in advertising and unfair and deceptive practices. The CFPB has made clear its intention to try to indirectly regulate automobile dealers by bringing enforcement actions against lenders--especially for disparate impact credit discrimination--and making the lenders police dealer activity. We closely follow both the FTC and CFPB and can provide ways to best protect your dealership from being a target
The FTC has become increasingly active in bringing enforcement actions against dealers, adopting the CFPB's "regulation by enforcement" approach especially in advertising and unfair and deceptive practices. The CFPB has made clear its intention to try to indirectly regulate automobile dealers by bringing enforcement actions against lenders--especially for disparate impact credit discrimination--and making the lenders police dealer activity. We closely follow both the FTC and CFPB and can provide ways to best protect your dealership from being a target
|
|