Archive November 2023

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FTC Amends Safeguards Rule, Requires Non-Banking Institutions to Report Data Security Breaches

In a significant move to bolster consumer data protection, the Federal Trade Commission (FTC) has approved an amendment to the Safeguards Rule, reinforcing the measures that non-banking financial institutions must take to secure their customers' sensitive information. This amendment also introduces a crucial provision compelling these institutions to report specific data breaches and security events to the FTC. This development underscores the FTC's commitment to transparency and safeguarding consumers' financial data.


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Repossessions: A Law Enforcement Point of View

In the Buy Here Pay Here (BHPH) industry, TIADA receives frequent calls from frustrated lienholders grappling with the same question: Why won't the police help retrieve a customer's hidden vehicle? It's a scenario that beckons a closer look into the complexities of vehicle repossession within a legal framework.


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