Is Your "Road to the Sale" Process Really Compliant?
Dealers are forced to balance their customers' demands for a quick "sales process" with their obligation to assure that their customers' personal, non-public information is safeguarded against any unauthorized release. Safeguarding this information begins with the first piece of customer information obtained and ends long after the transaction is completed. Non-compliance with the federal mandates of the FTC's "Privacy" and "Safeguards" Rules-regulations enacted to implement the customer privacy provision of the Gramm-Leach-Bliley Financial Services Modernization Act of 1999 ("GLB" Act)-can result in fines of $40,000 per violation (i.e. each time there's an unauthorized release of a consumer's personal, non-public information.)
What if there was a cost-effective solution that assures your dealership's Privacy and Safeguards obligations, without slowing down the sales process…a solution that guarantees that each member of your sales team follows the same "safeguarding procedures" for each customer, every time?
Now there is! NJ CAR and Digital Safeguard Solutions (DSGSS) offer a valuable Digital Compliance Enforcement Program that allows dealers to balance the speed and efficiency demanded by customers, with the compliance demands of the FTC's Privacy and Safeguards Rules.
Training and audits are a great start, but nothing beats consistent enforcement of established policies and practices for all dealership sales employees.
The DSGSS Digital Compliance Enforcement Program guarantees policies are followed in every sales and lease transaction. The platform assures that, from the time a customer enters the showroom through completion of the "sales process", their personal, non-public information is controlled and safely protected against unauthorized release in a "digital deal jacket." This eliminates potential sales process shortcuts or inconsistencies that open the door to compliance concerns and provides dealers with an automated layer of immediate control and protection.
For more information or to schedule a brief demonstration, please contact:
Judy Vann Karstadt
President, JV Solutions LLC
Director, NJ CAR Academy
Gail B. Caputi
NJ CAR Programs Coordinator