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Top News Releases Red Flags Guide

April 22, 2008

Hanover, MD -- LLC, a leading publisher of automobile financing and leasing legal compliance services, has announced the release of A Dealer’s Guide to the Red Flags Rule, by Michael A. Benoit, the first in a new series of compliance manuals. The CARLAW Compliance Series is designed to address legal issues that dealers face every day.

Mandated by the Fair and Accurate Credit Transactions Act of 2003 and issued by the Federal Trade Commission in 2007, the Red Flags Rule was effective January 1, 2008 with a mandatory compliance date of November 1, 2008. A Dealer’s Guide to the Red Flags Rule is a reference tool that provides busy dealers with a step-by-step roadmap to designing and implementing an Identity Theft Prevention Program as required by the new regulations.

The guide addresses the design and implementation of reasonable policies and procedures, including how to:

1. Identify Red Flags in the dealership

2. Detect and evaluate Red Flags at the customer transaction level

3. Respond appropriately to the Red Flags detected

4. Periodically update the Identity Theft Prevention Program as necessary

A Dealer’s Guide to the Red Flags Rule contains strategies for managing the Identity Theft Prevention Program in the dealership, as well as a sample Identity Theft Prevention Program dealers may use as the basis for their own specific Programs. The information is presented in an easy-to-read format, with as little "legalese" and as much useful and practical information as possible, according to the publisher.

“Dealers belong to one of the most highly-regulated industries in the country, and compliance isn’t getting any easier,” said Benoit. “Our goal with the CARLAW Compliance Series is to provide dealers with helpful and timely resources at a reasonable price. As more and more regulation comes out of the federal agencies, we think dealers will welcome resources such as A Dealer’s Guide to the Red Flags Rule as a cost-effective and informative reference.”

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