Equifax / Credit Bureaus

Tags: Compliance / Legal

Equifax Auto Roundtable The Equifax Auto Roundtable is an annual event that brings together leaders, experts, and innovators from diverse sectors, ranging from finance and automotive to technology and policy. This confluence of great minds serves as a platform for discussing pivotal subjects that have a profound impact on the US economy. The event’s significance lies in its ability to foster dialogue and collaboration among industry leaders, regulatory authorities, and thought leaders.

Dealers / Credit Bureaus / Credit Reports / Legal

Tags: Security / Compliance

How this affects your dealership The Federal Trade Commission (FTC) has updated Safeguards Rules. Dealers are required to implement these guidelines as part of their information security program (ISP). Previously, similar rules provided only general guidance but as of December 9, 2022 FTC has published specific requirements. The FTC can fine violators up to $46,517 per violation. You must have a written information security program that provides the following: to ensure the security and confidentiality of customer information; to protect against anticipated threats or hazards to the security or integrity of that information; and to protect against unauthorized access to that information that could result in substantial harm or inconvenience to any customer.