Federal Regulations
WE HAVE GUIDELINES FOR COMPLYING WITH THE FEDERAL RED FLAGS RULE
The FTC delays Red Flag's Rule enforcement date six months. For more information click here.
The Federal Trade Commission and federal financial institution regulatory agencies have published final rules on identity theft “red flags.” The Red Flags Rule, effective January 1, 2008 requires mandatory compliance by November 1, 2008. All dealers must comply by November 1, 2008! The general counsel for the NIADA has prepared templates and guidelines for use by members of the FIADA.
Members must sign in to receive further information.
WE have the template to develop Safeguards Rule policies
The Federal Trade Commission’s (FTC) Safeguards Rule became effective on May 23, 2003. The Rule specifically requires every dealer, regardless of the size of the dealership, to develop, implement and maintain a comprehensive written information security plan that describes the dealership’s program to protect customer information. It also requires them to ensure that affiliates of the dealership maintain appropriate safeguards and that their service providers are capable of maintaining appropriate safeguards for the customer information the dealership shares. The Dealership’s written information security plan must include:
Members must sign in to receive further information.
Federal Labor Laws
Did You Know that Sales People and Mechanics are Exempt from Overtime? Based on an inquiry from a member, we contacted our CPA firm who confirmed that sales people and mechanics who work at auto dealerships are exempt from receiving overtime pay. Click on the link and carefully read the U.S. Department of Labor publication. Contact your CPA for specific questions or application of this law.
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