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Archive November 2024
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Mandatory webDEALER Use and Training: What Texas Dealers Must Do Now
- By: Stephen Pallas
- On: 11/21/2024 08:01:06
- In: Texas Posts
- Comments: 0
The Texas Department of Motor Vehicles (TxDMV) is rolling out major updates to streamline dealer operations and ensure compliance across the industry. These initiatives focus on preparing dealers for the mandatory adoption of webDEALER by July 1, 2025, and offering valuable training opportunities to help businesses stay informed and competitive. From clarifications on bonding requirements to upcoming webinars and on-demand resources, these updates highlight the tools and timelines every Texas dealer needs to know to stay ahead.
FTC Settles with Dealership for Over $1 Million
- By: Stephen Pallas
- On: 11/20/2024 08:05:06
- In: Federal / National Posts
- Comments: 0
The Federal Trade Commission (FTC) recently targeted one dealership for allegedly charging what the agency calls “junk fees” and engaging in discriminatory financing practices. This resulted in over $1 million in refunds to affected consumers. While consumer protection is an important objective, the FTC’s increasingly aggressive actions raise concerns for dealerships already contending with a complex regulatory landscape.
TIADA Welcomes Greg Reine as President
- By: Stephen Pallas
- On: 11/20/2024 08:02:56
- In: Texas Posts
- Comments: 0
TIADA is proud to announce Greg Reine as the new President of our association. Greg is no stranger to the TIADA community, having served on the Board of Directors since 2017 and contributing tirelessly to the growth and success of the independent automobile dealer industry.
TIADA Advocates for Dealer Efficiency at TxDMV Board Meeting
- By: Stephen Pallas
- On: 11/06/2024 00:13:49
- In: Texas Posts
- Comments: 0
TIADA recently made public comments at the Texas Department of Motor Vehicles (TxDMV) Board Meeting on October 24, 2024. The association's representatives highlighted several critical issues within the proposed rule changes for Chapter 215, Motor Vehicle Distribution, aiming to streamline processes and reduce unnecessary burdens on Texas auto dealers.
TxDMV Revokes Dealer’s License Following Compliance Violations
- By: Stephen Pallas
- On: 11/06/2024 00:04:47
- In: Texas Posts
- Comments: 0
The Texas Department of Motor Vehicles (TxDMV) recently revoked the General Distinguishing Number (GDN) license of a Texas-based dealership for failing to meet recently implemented requirements. This case highlights the critical importance of adhering to the Board’s regulations and maintaining operational integrity.
Are You Ready for Your Next OCCC Exam, Including Their New Safeguards Requirements?
- By: TIADA Compliance
- On: 11/05/2024 09:53:55
- In: Texas Posts
- Comments: 0
The Texas Office of Consumer Credit Commissioner (OCCC) has announced it will incorporate specific requirements from the Federal Trade Commission’s (FTC) Safeguards Rule into its dealer examinations. With enforcement beginning soon, Texas dealers are advised to assess their information security programs to ensure compliance. The updated Safeguards Rule (16 C.F.R. pt. 314) mandates non-banking financial institutions to adopt stronger protections for sensitive customer data, and the OCCC’s upcoming examinations will now scrutinize dealers’ adherence to these standards.