** ADVERSE ACTION NOTICES NOW JUST $1 - STAMP & SMILE INCLUDED!
(Provided through our Compliance Partner: 1ST STOP COMPLIANCE)
Many dealership owners and GM's think they are compliant with the Red Flag Rules
because a "Compliance" company or an expert charged your dealership several hundred
dollars for an Identity Theft Prevention Program (ITPP) that you can file in a drawer.
BUT that is not what the Red Flag Rules are about. The FTC is very adamant that the
purpose of the Red Flag Rules is to prevent identity theft at the time of the transaction.
To be compliant, dealerships must have a process in place in these 6 areas:
If your Program does not have a policy in place in each of these 6 areas, then YOUR dealership's program is NOT complaint.
It’s that simple.