Archive March 2023

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Guidance on Electronic Signatures: Here's What You Need to Know

Recently, a dealer contacted TIADA about using electronic signatures because they heard conflicting guidance from other sources. Electronic signatures are generally allowed under Texas and federal law. The federal E-Sign Act, 15 U.S.C. §§ 7001–7006, includes electronic disclosures and signatures requirements. The E-Sign Act allows disclosure to be made electronically only if the consumer consents to an electronic disclosure using a specified procedure demonstrating the consumer's ability to receive the disclosure electronically. 15 U.S.C. § 7001(c)(1)(A).


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TIADA Appoints John Frullo as Executive Director

The Texas Independent Automobile Dealers Association (TIADA) is proud to announce the appointment of John Frullo as its new Executive Director. Frullo, a former Texas State Representative from Lubbock, and longtime advocate for small business, will assume the position effective March 20. After earning a Bachelor of Science in Accounting from the University of Wyoming, he went on to become a CPA and spent the next ten years working in the financial, operational, managerial, and regulatory aspects of various businesses.  More recently, Frullo has owned and operated a successful and award-winning print, design, and promotional products company.


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Optional Products: Rules and Best Practices

State and federal agencies are strictly reviewing dealers’ optional protection products. The CFPB has focused on servicers failing to request refunds from third-party administrators for “unearned” fees related to products and the amounts charged. As such, now is a good time to review your internal policies.


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OCCC Addresses RFC and MVSF License Requirements

TIADA recently learned of some confusion regarding the necessity of a motor vehicle sales finance license (MVSF) for a related finance company, so we reached out to the Office of Consumer Credit Commissioner to verify our understanding was correct that a dealer with a related finance company needed a separate license for each business.


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Email Phishing Scam Targets TxDMV Temporary Tag System

TxDMV has implemented numerous temporary tag controls and shut down most of the illegal sale of temporary tags in the past year. However, fraudsters have recently shown they are still looking for new ways to access temporary tags. Specifically, fraudsters are resorting to sending phishing emails. TxDMV recently received two separate reports of email-fraud posing as TxDMV. Both of the emails appear to be sent from using ‘TxDMV eLICENSING’ as the email account name.


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