Compliance Update: Aggressive Regulators, New Risks and Harsh Penalties for Dealer Conduct
Friday, November 15
8:00 - 9:00 a.m.
, Mosaic Compliance Services, LLC
In this 2019 compliance update, we will discuss: i) recent enforcement actions by the CFPB and FTC in new fields of dealer activity and the CFPB’s citing aftermarket products as a leading item of service member complaints; ii) FTC and state Attorney General UDAP enforcement activity in other key areas including spot deliveries; safety recalls; privacy and safeguards; collection practices and repossessions; and advertising. For advertising, we will review the legal requirements that regulators most frequently look for as well as enforcement actions to show things that regulators have cited in assessing whether an advertisement is unfair or deceptive; iii) increases in penalty amounts for UDAPs and other violations and examples of large penalties imposed on dealers. This presentation will review recent cases, pronouncements, and enforcement actions on both the federal and state levels to assist RV dealers in identifying conduct that may be out of compliance and particularly susceptible to regulatory enforcement or litigation. State Attorneys General are empowered to enforce federal as well as state consumer protection laws against auto dealers and have been active in doing so. We will show who has been most active and discuss plaintiff attorney priorities in trolling for clients as well.
During this workshop, attendees will learn:
- Best practices to comply with the new areas of focus on “regulation by enforcement"
- How penalties for compliance violations have increased substantially
- changes to sales and F&I and how to document and protect your dealership if claims are made