Pain Point: Need to Adopt New Model Privacy Notice by Dec. 31!
Resolution: For quick, intensive learning, see archived webinar, "Transitioning to the New Model Privacy Notice."
Privacy law requires dealers to notify consumers about their information-sharing practices and to inform them of their opt-out rights. The FTC and the federal banking agencies have released a new model privacy notice form that makes it easier for consumers to understand how dealers and other financial institutions collect and share information about consumers. The new notice is the only notice that will afford dealers safe harbor protection beginning December 31, 2010. Watch the video to learn more about the new notice and what's at stake.