Our Director of Compliance Terry O’Loughlin recently joined Adam Crowell, Vice President of Legal and Corporate Development at KPA, to present a webinar addressing the automotive industry’s ever-evolving regulatory environment.
The session focused on a variety of important topics, with each one highlighting the importance of staying vigilant and proactive regarding compliance efforts. Key points included:
-
FTC Budget Cuts: Despite a $42 million reduction in budget, the FTC remains active in enforcing rules regarding pricing and fee transparency.
-
State Agencies: Federal regulatory action has slowed, but state agencies and consumer advocacy groups are filling the gaps.
-
FTC Safeguards Rule: Recent updates to the rule emphasize the importance of accurate privacy notices.
Dealers should not assume reduced federal activity means reduced compliance risk. Regulators and advocacy groups are still focused on the automotive industry and ignorance isn’t a strong defense in court.
Click below to watch the full webinar and learn more about how regulators are focusing on dealerships and the steps you can take to protect yourself and your business.
After watching the webinar, make sure to return to our website and fill out a contact form to get in touch with your dedicated consultant to discuss a free F&I Document Review.