Car Dealer Lawyer

Do you remember when you were in school, and you worked really hard on a project to turn it in on time - then the teacher let everyone off the hook by moving back the deadline?  That’s how I felt today when I learned that the FTC delayed enforcement of the Red Flags rule for another six months.  Apparently the FTC discovered that a lot of businesses (who don’t read CarDealerLawyer.com) didn’t know that the Red Flags Rule applied to them.  Maybe the FTC thought that its enforcement people would lose their edge if they were hunting fish in a barrel.  As luck would have it, I just finished installing Red Flags programs in three dealerships - sorry about that guys!  I also ran into a guy today from Reynolds & Reynolds who was selling Red Flags compliance forms.  Tomorrow will probably be an interesting day for him.

All kidding aside, car dealers have enough on their plates now without implementing new programs.  A lot of good dealers are fighting for their lives.  Basically, our government has spent the last month telling us that our economic system is on the verge of collapse - not exactly the kind of talk that makes you want to go out and buy a new car.  Apparently, people don’t want to fix cars either.  In any event, this isn’t the right environment to impose a new regulatory burden, so I applaud the FTC for backing off for awhile.

FTC News Release