The National Automobile Dealers Association submitted renewed objections to the Federal Trade Commission’s proposed Safeguards Rule amendments, which beef up requirements for financial institutions to protect consumer data. In a periodic review of its data protection guidelines, the federal watchdog proposed in March 2019 several amendments governing what steps financial …
Read More »Remote car deals could trigger atypical FTC rule, experts say
Stay-at-home orders and social distancing requirements during the COVID-19 pandemic are prompting more auto retailers than ever to knock on doors to finish deals. But the practice could expose dealerships to a 45-year-old federal regulation that allows consumers to cancel sales that take place in driveways or third-party locations other …
Read More »Pentagon reverses guidance on Military Lending Act rule
The Department of Defense reversed its guidance on the Military Lending Act, clearing confusion that has prevented automotive dealers from selling guaranteed asset protection, or GAP, to military members and covered relatives. The Pentagon said Thursday it was withdrawing part of a previously amended Q&A published in the December 2017 …
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