Compliance FAQ

1. How Much Are My Employees Trained?

  • All of your employees will be scheduled for an initial training sessions. This includes personnel in your sales, general office, finance, service, parts and management divisions. In addition, Dealership Development will complete an advanced training program with your Program Coordinator/Compliance Officer.

 

  • Each employee will receive a booklet of the dealership’s policies and procedures along with other relevant information. Each employee will also sign a packet of waivers and a training log acknowledging their participation in the training sessions.

 

  • After the initial training session, ongoing annual training will be conducted with all dealership employees to update any new laws or information and document dealership compliance.

 

  • Any new employees will be trained and tested using our online compliance program.

 

  • All testing will be done online and archived for easy access or review when necessary.

2. What Laws Will My Employees Be Trained On?

What your employees will be trained on will depend on their position and responsibilities within the company.

Compliance Officer and Front End Manager

Sales Personnel

Main Office Personnel

  • Gramm-Leach-Bliley Act
  • Safeguarding Rule
  • Privacy Notice
  • U.S.A. Patriot Act
  • I.R.S. Fin/Cen Reporting Cash Payments
  • O.F.A.C. “Bad Guy” list.
  • Red Flags Rule
  • Truth-in-Lending Act (TILA)
  • Deceptive Acts & Practices (State & Federal)
  • Fair Credit Reporting Act (FCRA)
  • Disposal Rule
  • Pretext Calls
  • Fair & Accurate Credit Transaction Act
  • Equal Credit Opportunity Act
  • FTC Used Car Rule
  • Do Not Call
  • Can-Spam
  • Junk Fax
  • Gramm-Leach-Bliley Act
  • Safeguarding Rule
  • Privacy Notice
  • U.S.A. Patriot Act
  • I.R.S. Fin/Cen Reporting Cash Payments
  • O.F.A.C. “Bad Guy” list.
  • Red Flags Rule
  • Deceptive Acts & Practices (State & Federal)
  • Disposal Rule
  • Pretext Calls
  • Equal Credit Opportunity Act
  • FTC Used Car Rule
  • Do Not Call
  • Can-Spam
  • Junk Fax
  • Gramm-Leach-Bliley Act
  • Safeguarding Rule
  • I.R.S. Fin/Cen Reporting Cash Payments
  • Deceptive Acts & Practices (State & Federal)
  • Disposal Rule

Service and Parts Personnel

  • Gramm-Leach-Bliley Act
  • Safeguarding Rule

Each of your employees will be trained to understand the daily situations and circumstances in which the various

laws apply. Your employees will understand the basics of each law and what their responsibilities are to keep

your dealership compliant. In addition, your designated Program Coordinator / Compliance Officer will be

trained to monitor compliance issues on a daily basis to mitigate liability.

3. What if the Laws Change?

The laws will change, you can count on it. Dealership Development stays abreast of all new and upcoming laws and rules on a daily basis. By keeping our fingers on the pulse of legislation we are able to pro-actively build new training programs for your employees and modify your compliance manual to keep your dealership compliant with current applicable laws.

 

4. What Does Dealership Development Audit?

Dealership Development audits every area and department of your dealership that would fall under the jurisdiction of the applicable laws. Dealership Development does physical inspections of current processes and procedures that the dealer has in place in all departments. Dealership Development will also compile and audit all retail documents used on the sales floor and in the finance department for violations. We compile detailed notes of where your dealership may currently be in violation of the law. We analyze the notes from our audit and build a business plan detailing all changes required to make your dealership compliant. This business plan will contain the policies and procedures that all of your employees must follow. This compliance manual will serve as your Program Coordinator/Compliance Officer’s guide.

5. How Many Times Will Dealership Development Be in My Dealership?

After the initial risk assessment audit, Dealership Development will be in your dealership on a biannual basis or as needed. At each visit a Dealership Development representative, along with the dealership's Program Coordinator/Compliance Officer, will do a physical walk-through audit that will be documented and placed in your compliance manual. In addition, retail documents will be audited to ensure that your completed paperwork is in compliance. This, too, will be documented and corrected with employees if necessary.

6. How Does This Protect Me Against Potential Lawsuits?

Dealership Development’s compliance programs are designed to help build your dealership a defensible position. We help build this position through ongoing audits, solutions, training and documentation. In today’s litigious marketplace, Dealership Development can assist you in taking the target off of your back.

1250 S. Grove Suite 305

Barrington, IL 60010

P. 847-382-1095

F. 847-382-1083

© Copyright 2018  Dealership Development, LLC