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Upcoming (December) FTC Regulations

Tallcool1

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Mar 17, 2014
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We are starting to hear more about the new FTC Regulations. There seems to be some overlap or discrepancy between proposed Federal Regulations and existing State Regulations.

Does anyone or has anyone dug into these new regulations and simplified it to the point that you have actually made decisions regarding what changes you will be adopting? This goes for Dealers and Vendors alike. I am interested in this.
 
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@tomkline brought a few to our attention on RefreshFriday a few weeks ago. Some of this is due to the Graham Leach Bliley Act. From what I can tell, dealers will need to hold their vendors accountable for how data is shared. Vendors are going to have a butt-ton of work to do. Especially CRM companies.

In the end, this is going to generate more costs for everyone. It probably won't change a damn thing in regards to data security as the criminals are still going to commit the same old cyber crimes with the same data that will still get into their hands. This will only hurt the law-abiding.... who the government always targets the hardest.

You can watch Tom's RefreshFriday where he discusses some of this:
 
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Reactions: Jeff Kershner
@tomkline brought a few to our attention on RefreshFriday a few weeks ago. Some of this is due to the Graham Leach Bliley Act. From what I can tell, dealers will need to hold their vendors accountable for how data is shared. Vendors are going to have a butt-ton of work to do. Especially CRM companies.

In the end, this is going to generate more costs for everyone. It probably won't change a damn thing in regards to data security as the criminals are still going to commit the same old cyber crimes with the same data that will still get into their hands. This will only hurt the law-abiding.... who the government always targets the hardest.

You can watch Tom's RefreshFriday where he discusses some of this:

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Follow John Huetter's articles on Automotive News. John Huetter on Automotive News. Here are a few to start with:


He's covering things for them, and @tomkline has been referencing him too.
 
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We are starting to hear more about the new FTC Regulations. There seems to be some overlap or discrepancy between proposed Federal Regulations and existing State Regulations.

Does anyone or has anyone dug into these new regulations and simplified it to the point that you have actually made decisions regarding what changes you will be adopting? This goes for Dealers and Vendors alike. I am interested in this.

Tallcool1,

How can I help?

Can you be more specific in your questions, please?

I’m happy to support your inquiry.

Cheers,

Tom
 
Tallcool1,

How can I help?

Can you be more specific in your questions, please?

I’m happy to support your inquiry.

Cheers,

Tom
Tom

I am specifically interested in seeing the exact "rules" as they pertain to CRM, both dealer side and vendor side. I have tried to research this, and beyond the predatory dealer practices have not had much luck.
 
Tom

I am specifically interested in seeing the exact "rules" as they pertain to CRM, both dealer side and vendor side. I have tried to research this, and beyond the predatory dealer practices have not had much luck.

In short, all data must be encrypted both at rest and in transit.

If you are interested in further information, please reach out by email to me at [email protected] and I will send you NADA's Guide to the new regulations.

Happy to answer any other questions.

Cheers, Tom
 
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