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Cybersecurity

FTC Safeguards Rule for Auto and Truck Dealers: A 30-Day Readiness Plan

If you arrange or extend financing on vehicle sales (auto, light-duty truck, or heavy-duty truck), the FTC considers you a "financial institution" under the Gramm-Leach-Bliley Act and the Safeguards Rule applies. Cash-only sales operations are out of scope, but almost every dealership that runs a finance office is in scope. The 2023 amendments raised the bar significantly. This post is the 30-day phased plan we walk new clients through.

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