Lax Hygiene Greatest Risk of Dealership Data Breach

2024—Terry Dortch, a seasoned expert with 25 years of experience as the CEO of Automotive Risk Management Partners, advocates that human eyes, hands, and experience remain a primary strategy against identity theft crimes in auto dealerships. “No dealership can be 100% secured from compliance lapses and data breaches, even where computer systems oversee digital networks, but in my 25 years …

How to Satisfy the CARS Rule

To maintain a healthy stance on the Combating Auto Retail Scams (CARS) Rule, consider conducting a "temperature" check of your dealership. The CARS Rule must be at the top of your temperature checklist because it is essential to your operating well-being. Your compliance position with other rules I’ll mention here helps you solve CARS Rule issues. The Federal Trade Commission …

F&I tip: Protect consumer information with physical audits as well as cybersecurity, compliance CEO says

Cybersecurity is an important and high-profile component of the federal Safeguards Rule requiring dealerships and other financial institutions to protect customer information. But Terry Dortch, CEO of compliance company Automotive Risk Management Partners, recommended dealerships also conduct frequent physical audits of their companies. "While data and cybersecurity breach prevention are undeniably crucial for dealerships, it’s important to note that much …

Knuckle Under the CFPB

Best be certain your dealership complies absolutely with Consumer Financial Protection Board (CFPB) regulations, as any doubt to its constitutional authority was nixed by the U.S. Supreme Court a few days ago. For dealers, the message is to continue sound consumer financing practices that might otherwise expose them to undue risk of CFPB violations. With a 7 to 2 favorable …

Physical Audits Support Compliance Software in Thwarting CARS Rule Violations and Other Auto Dealership Cyber Crimes

CRYSTAL LAKE, IL, May 22, 2024 – As cyber crimes against auto dealerships escalate, dealers must recognize the importance of conducting frequent physical security audits to supplement any software-driven compliance tool they may be using. This advice comes from Terry Dortch, a leading dealership compliance expert at Automotive Risk Management Partners, whose knowledge in this field is unparalleled. The need …