Important details for the used car manager The Federal trade Commission (FTC) has issued warnings to used car dealerships, advising of potential violations of the FTC’s Used Car Rule, which requires used car dealers to display a “Buyer’s Guide” detailing warranty and other important information on the cars that they sell. Dealers should review procedures… Continue Reading
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Tag Archives: FTC
FTC Charges Georgia Dealer with Violation of Privacy Laws
The Federal Trade Commission has cited a Georgia car dealership for violations of the Gramm-Leach-Bliley Act and Section 5 of the FTC Act by illegally exposing the sensitive personal information of thousands of consumers by allowing peer-to-peer file sharing software to be installed on its corporate computer system. According to the Georgia Auto Dealers Association, this… Continue Reading
FTC on the Prowl – Two Dealers in Florida, Now Five Dealers Elsewhere
All of a sudden car dealers are on the FTC’s radar. We believe this is a result of the recent FTC regional meetings. But now the focus is not just on F&I procedures and spot deliveries, the attention has turned to advertising. Register for FADA’s Legal Tactics for Dealers to learn more about this. … Continue Reading
All dealers have two new form requirements effective January 1, 2011
On January 1, 2011 you must have two new forms for customers to receive and we recommend that you require customers to sign them and you retain them for no less than 5 years (dead deals) and 7 years (consummated deals): 1. New FTC Privacy Forms – While all dealers have used a previously-approved FTC… Continue Reading
Record Retention Guidelines and FTC Disposal Rule
In general, most will not want to commit an answer for how long records should be retained…… Continue Reading
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