UCDP Ep #46 - What your Dealership Needs to Know in 2023 About FTC Safeguard & Compliance

In this episode of the Used Car Dealer Podcast, Zach interviews Adam Crowell of ComplyNet. They discuss the importance of FTC Safeguard compliance for used car dealers, the proposed rules by CFPB and FTC, safety recalls and non-proper disclosure for dealers, and advice on how to get started with compliance.Some of the questions asked include:Q) Talk about your background on the legal side of automotive and what you guys do for dealers at ComplyNet? Q) What's most important for dealers to understand about FTC Safeguard? Q) What would be a couple examples for context purposes of the technical or admin things that used car dealers might have to do to be in compliance?Q) What's your opinion on the belief held by some dealers that they are not at risk of getting into trouble with FTC Safeguard and other compliance considerations?Q) What were some of your observations as dealers tried to comprehend FTC Safeguard and put into place measures for the Dec 9th deadline (which is now extended until June)? Q) Talk about new proposed rules by CFPB and FTC, which impact used car dealers, especially BHPH? Q) Talk about safety recalls and non-proper disclosure for dealers? Is this another big focus for enforcement coming forward? Q) If you were a used car dealer, thinking about the upcoming June deadline, what advice would you have to get started in moving toward FTC Safeguard compliance? Q) Lastly, Adam, what’s coming down the pipeline from the ComplyNet for 2023?Listen to our other podcast episodes: https://www.sellyautomotive.com/podcastTranscribe of this podcast - https://blog.sellyautomotive.com/blog/adamcrowell2023