In January 2020 Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger appointed a taskforce on Federal Consumer Financial Law to explore and make recommendations on ways to improve consumer protection in the marketplace.
As operating in the coronavirus environment is the new normal, the Occupational Safety and Health Administration’s (OSHA) Safe + Sound Week, the week of August 10 to 16, is a good time to evaluate a dealership’s new operating procedures and optimize them for the long haul.
The action represents the latest recognition by a diverse and growing number of public and private groups of the value of the optional NADA fair credit program as an effective mechanism to address fair credit concerns while preserving competition in the marketplace.
Due to the coronavirus, new-vehicle sales have plummeted 34% in March…hundreds of showrooms are dark, with 22 states enforcing restrictions on in-person sales…and many businesses have shuttered under numerous shelter-in-place measures. Under these circumstances, dealers are rightly turning to online sales.
The new law provides certain eligible employees with potential coronavirus-related emergency paid sick leave, emergency family and medical leave, and expanded unemployment insurance.
There have been many reports from healthcare providers, pharmacies, grocers, retailers, utility companies, banks, credit unions and financial service providers, among others, that routine, important customer service calls from are being blocked by the providers because of this protocol. NADA has recently received reports that dealers have also now begun to face these issues on calls made from their dealership.
“This is a great victory for military service members and their families. It is critically important for members of the military to have the ability to purchase valuable credit-related products such as optional GAP Waiver protection when they finance the purchase of a new vehicle.”
NADA Show Legal and Regulatory education sessions will address the latest hot topics for dealers and provide the information you need to stay up-to-date with dealership processes.
With the new year less than a month away, it is a good time for franchised new-car dealers to evaluate their websites for accessibility and reaffirm our commitment to website accessibility.