Car Dealerships: Dealers Must Bolster Data Security Under New FTC Rule
The Federal Trade Commission has recently updated the 2003 Gramm-Leach-Bliley Act ‘Safeguards Rule’ to create new standards and procedures that will apply to auto dealerships and go into effect in December 2022. The Safeguards Rule outlines the standards required for the protection of consumer data. The new updates create stricter criteria and procedures that car dealers will need to implement, both to reduce the risk of a data breach and to better protect customer data.