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Red Flags

NADA Seminar Takes ‘Deeper Dive’ Into FTC Red Flags Rule

March 02, 2009

NADA Regulatory Affairs Director Paul Metrey and attorneys from the Federal Trade Commission (FTC)’s Division of Privacy and Identity Protection — which drafted and enforces the Red Flags Rule — will present a virtual seminar “A Deeper Dive into the FTC Red Flags Rule” on March 26 from 1 to 3 p.m. EST.

With the revised May 1 enforcement date approaching, dealers should ensure that their required identity theft prevention programs incorporate all of their covered accounts, include all relevant Red Flags, contain effective response and detection procedures, address all the rule’s other requirements, and are tailored to their particular operations. It's a daunting task in view of the rule’s general provisions that encompass all types of financial institutions and creditors.

To assist dealers in understanding how the rule applies to dealership operations, FTC attorneys will join NADA Regulatory Affairs Director Paul Metrey to recap the required elements of the Red Flags and Address Discrepancy Rules and examine implementation considerations for dealers. After the presentation, dealers will have an opportunity to participate in a Q-and-A session with the FTC attorneys.

Dealers are encouraged to bring their copies of NADA's “A Dealer Guide to the FTC Red Flags and Address Discrepancy Rules.”

The fee for this seminar is $199 per computer connection. To register, visit www.nada.org/seminars or call (800) 252-6232, ext. 2.

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