Are you complying with the Red Flags Rule?

The Red Flags Rule requires many businesses and organizations to implement a written Identity Theft Prevention Program designed to detect the warning signs – or “red flags” – of identity theft in their day-to-day operations. Are you covered by the Red Flags Rule? Read Fighting Fraud with the Red Flags Rule: A How-To Guide for Business to:

* Find out if the rule applies to your business or organization;
* Get practical tips on spotting the red flags of identity theft, taking steps to prevent the crime, and mitigating the damage it inflicts; and
* Learn how to put in place your written Identity Theft Prevention Program.

http://www.ftc.gov/redflagsrule

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FTC Extends Enforcement Deadline for Identity Theft Red Flags Rule

At the request of Members of Congress, the Federal Trade Commission is delaying enforcement of the “Red Flags” Rule until June 1, 2010, for financial institutions and creditors subject to enforcement by the FTC.

CAR DEALERS WILL HAVE UNTIL JUNE 1, 2010 TO MEET RED FLAG RULES COMPLIANCE

The Rule was promulgated under the Fair and Accurate Credit Transactions Act, in which Congress directed the Commission and other agencies to develop regulations requiring “creditors” and “financial institutions” to address the risk of identity theft. The resulting Red Flags Rule requires all such entities that have “covered accounts” to develop and implement written identity theft prevention programs to help identify, detect, and respond to patterns, practices, or specific activities – known as “red flags” – that could indicate identity theft.

The Commission previously delayed the enforcement of the Rule for entities under its jurisdiction until November 1, 2009. The Commission staff has continued to provide guidance to entities within its jurisdiction, both through materials posted on the dedicated Red Flags Rule Web site (www.ftc.gov/redflagsrule), and in speeches and participation in seminars, conferences and other training events to numerous groups. The Commission also published a compliance guide for business, and created a template that enables low risk entities to create an identity theft program with an easy-to-use online form. FTC staff has published numerous general and industry-specific articles, released a video explaining the Rule, and continues to respond to inquiries from the public. To assist further with compliance, FTC staff has worked with a number of trade associations that have chosen to develop model policies or specialized guidance for their members.

On October 30, 2009, the U.S. District Court for the District of Columbia ruled that the FTC may not apply the Red Flags Rule to attorneys. Today’s announcement that the Commission will delay enforcement of the Rule until June 1, 2010, does not affect the separate timeline of that proceeding and any possible appeals. Nor does it affect other federal agencies’ ongoing enforcement for financial institutions and creditors subject to their oversight.

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beginning june 1, 2010

every car dealer must have a written red flag rules program

within their dealership with a designated red flag compliance officer

if the dealership does not have the red flag rules program in place

the dealership faces a fine of $ 2500. per car deal after june 1, 2010

the FTC is the new sheriff in town

the FTC are the folks who years ago brought you the buyers guide

( remember, the federal buyers guide is the MANDATORY statement posted in the side window describing warranty / no warranty on every car offered for retail sale in america )

dmv compliance requires the buyers guide and now the red flag rules

our program will make you red flag compliant quickly

$ 500. for our red flag dealer class

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BEWARE OF SPOT DELIVERY!
DON’T BE PUT “ON THE SPOT.”

So you purchased a beautiful new car, signed all the necessary paperwork and drove it right off the lot with a big smile on your face. The dealer got you approved on the “spot”. Or so you thought.

A few days or weeks later, the dealer calls and asks you to return to “sign a few more papers”. “Mr. Smith”, they say, “we couldn’t get the car financed and you need to sign a new loan with another bank” or “you need someone to co-sign”, or “give us another $1000 and we can do the deal”, or “Mr Smith, we need to increase your monthly payment to get this done”. The dealer may even have delayed paying off a traded vehicle loan or refused to mail registration papers, all to place additional pressure on the consumer to do as they are instructed or to face dire consequences to their credit.

Sound familiar? It gets worse.

If you refuse, the dealer may threaten to repossess the car, tell you that you have no legal entitlement to keep it or even make you wait for hours at the dealership under some excuse, to wear you down. This situation is most common involving consumers with bad credit, since dealers perceive that such people are vulnerable and easy to take advantage of.

Most consumers assume the dealer is telling the truth and will do whatever the dealer says, resulting in higher payments, additional money being spent over the life of the loan and/or thousands of dollars in increased “hidden” costs. Those who refuse, see their cars repossessed.

What is happening here? It’s a Scam. Dealer Fraud. Unlawful. Illegal. Call it what you will. The industry has given it a name: Spot Delivery, a description which refers to the dealer placing a consumer in a car “on the spot”, to get the sale, only to “yo-yo” them back at a later date for additional funds. Played to perfection, a dealer can reap thousands of dollars in unearned fraudulent gain.

What to know about Spot Delivery: If you signed purchase documents and registration applications and if you obtained insurance for the vehicle, had a new license plate put on the car and/or had your old plate transferred, the car belongs to you.

Spot Delivery happens to unsuspecting consumers throughout the United States. It is very popular with dealers in Pennsylvania, New Jersey and Delaware. If you find yourself in this situation, the chances are good that you have legal remedies available to right this wrong.
Tools to Protect Yourself from Spot Delivery or Dealer Fraud:

* Remember that if you have signed papers, you own the car, regardless of whether the vehicle has been financed.
* Your credit was good or the dealer would not have delivered the car to you at the price you agreed to pay
* A finance document showing payments, deposit, interest rate and other financial items is a binding contract, giving you specific legal rights.
* You own the car subject to making payments only. The dealer cannot change that once you take possession.
* Keep all copies of your paperwork and anything else associated with the sale (including calendars, photographs, advertisements). If the finance manager asks for your papers at any time for any reason, refuse! Keep these documents in a safe place, not the car.
* If you are called back to the dealership to sign additional papers, either do not go or do so in a different car than the one you bought.
* Have a friend or spouse drive you and witness whatever is being told to you. This will prevent the dealer from taking your car as hostage, an all too common happening.
* If a dispute arises with the dealer over the contract and the dealer demands the car is returned, park it in a garage or remote location until the matter is resolved, to prevent it from being taken against your wishes.
* Put together a complete timeline of everything that happened from the time you thought of purchasing the car until the car was taken away. Try to remember specific names of dealership personnel and any statements that were made to you during conversations with the sales and finance staff.
* Keep track of all monies you had invested into the purchase, including registration, insurance, down payment and trade. Never pay cash and always get a receipt!

If you believe you are a victim of a Spot Delivery scam and wish to discuss it with a consumer attorney, call 1-800-LEMON-LAW (1-800-536-6652) or contact us by e-mail. Remember to leave a daytime telephone number where you can be reached. Based on the information you provide us, an attorney will meet with you to discuss your claim. If we do decide to represent you, the process will be cost-free.

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Auto Dealer Fraud FAQ

Q: What is “auto dealer fraud”?

A: “Auto dealer fraud” is a term that describes deceptive and unlawful practices used by automobile dealers, at almost any stage of the vehicle purchase process — from advertising, to negotiation of vehicle pricing and financing terms. Examples of auto dealer fraud include “bait and switch” advertising practices, deceptive inflation of vehicle prices, and failure to disclose information about a vehicle.

Q: How does a “bait and switch” occur?

A: “Bait and switch” sales tactics are a form of false or deceptive advertising, in which a car dealer lures potential buyers to the dealership by advertising one vehicle at a certain price, then tells the customer that the particular vehicle is no longer available before using aggressive tactics to sell a different, more expensive vehicle (or the advertised vehicle at a price higher than the advertised price).

Q: What kinds of things must used car dealers disclose about a used vehicle that is being offered for sale?

A: In most states, car dealers must disclose whether a used vehicle has incurred significant damage in an accident, has been designated “salvaged”, or has been flood-damaged.

Q: What is a mileage “rollback”?

A: A form of auto dealer fraud, a “mileage rollback” or “odometer rollback” occurs when the odometer of a used vehicle (which indicates the total miles the vehicle has been driven) is altered (or “rolled back”) to display a number that is lower than the vehicle’s actual mileage.

Q: How do auto dealer fraud cases differ from Lemon Law cases?

A: Although both involve motor vehicles, auto dealer fraud cases are very different from Lemon Law cases. In auto dealer fraud cases, improper tactics used by a car dealer during the vehicle sale process are the focus, while lemon law cases arise from problems or defects with the vehicle itself.

Q: Should I contact the dealer if I feel that a car salesman committed fraud when I bought a car?

A: You may be required to do so. In many states, you (or your attorney) must contact the auto dealer and give them an opportunity to correct the problem to your satisfaction, before taking any legal action for possible auto dealer fraud. This contact should be in writing, and should clearly illustrate both the problem (i.e. the dealer’s failure to disclose certain financing charges), and what steps you would like the dealer to take to resolve the problem (i.e. a partial refund of the vehicle purchase price).

Q: Can I file a lawsuit for auto dealer fraud?

A: In most cases, yes. If you recently purchased a vehicle and you suspect that the dealer may have committed fraud in the sales process, you may want to speak with an experienced Auto Dealer Fraud Attorney. An Auto Dealer Fraud attorney will evaluate all aspects of your case and explain all options available to you — including filing a lawsuit for your damages — and will work with you to ensure the best possible outcome for your case. Remember that in some states, you are required to contact the dealer and give them an opportunity to correct the problem before you take any legal action.

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good car dealer education helps reduce car dealer license fraud

to file a complaint against a car dealer license holder in california:

http://www.dmv.ca.gov/forms/inv/inv172.htm

to speak with a dmv attorney regarding car dealer license fraud:

www.civilizedlaw.com

to check the current license status of any california dealer:

https://mv.dmv.ca.gov/olinq2/welcome.do

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autogodfather.com

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rexhead.net

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ezdealerbond.com

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gotplates.com

===============================
WE MAKE IT SIMPLE FOR YOU
800-901-5950
thx

charlotte

we make red flag compliance simple for you + 800-901-5950

FTC Extends Enforcement Deadline for Identity Theft Red Flags Rule

At the request of Members of Congress, the Federal Trade Commission is delaying enforcement of the “Red Flags” Rule until June 1, 2010, for financial institutions and creditors subject to enforcement by the FTC.

CAR DEALERS WILL HAVE UNTIL JUNE 1, 2010 TO MEET RED FLAG RULES COMPLIANCE

The Rule was promulgated under the Fair and Accurate Credit Transactions Act, in which Congress directed the Commission and other agencies to develop regulations requiring “creditors” and “financial institutions” to address the risk of identity theft. The resulting Red Flags Rule requires all such entities that have “covered accounts” to develop and implement written identity theft prevention programs to help identify, detect, and respond to patterns, practices, or specific activities – known as “red flags” – that could indicate identity theft.

The Commission previously delayed the enforcement of the Rule for entities under its jurisdiction until November 1, 2009. The Commission staff has continued to provide guidance to entities within its jurisdiction, both through materials posted on the dedicated Red Flags Rule Web site (www.ftc.gov/redflagsrule), and in speeches and participation in seminars, conferences and other training events to numerous groups. The Commission also published a compliance guide for business, and created a template that enables low risk entities to create an identity theft program with an easy-to-use online form. FTC staff has published numerous general and industry-specific articles, released a video explaining the Rule, and continues to respond to inquiries from the public. To assist further with compliance, FTC staff has worked with a number of trade associations that have chosen to develop model policies or specialized guidance for their members.

On October 30, 2009, the U.S. District Court for the District of Columbia ruled that the FTC may not apply the Red Flags Rule to attorneys. Today’s announcement that the Commission will delay enforcement of the Rule until June 1, 2010, does not affect the separate timeline of that proceeding and any possible appeals. Nor does it affect other federal agencies’ ongoing enforcement for financial institutions and creditors subject to their oversight.

The Federal Trade Commission works for consumers to prevent fraudulent, deceptive, and unfair business practices and to provide information to help spot, stop, and avoid them. To file a complaint in English or Spanish, visit the FTC’s online Complaint Assistant or call 1-877-FTC-HELP (1-877-382-4357). The FTC enters complaints into Consumer Sentinel, a secure, online database available to more than 1,700 civil and criminal law enforcement agencies in the U.S. and abroad. The FTC’s Web site provides free information on a variety of consumer topics.

MEDIA CONTACT:
Office of Public Affairs
202-326-2180

http://www.ftc.gov/opa/2009/10/redflags.shtm

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