DECEMBER 17, 2010

CADA Open Road, Special Issue:
IMPORTANT DEALER
COMPLIANCE ALERT!

CALENDAR OF EVENTS
– Upcoming Events

– CADA Office Holiday Hours

– 2011 Digital Marketing Strategies Conference

– NADA Convention and Expo

– Denver Auto Show

ARCHIVES

CLICK HERE for Open Road
e-newsletter archives.

CLICK HERE for an Index of Regulatory
& Legal Articles from the Open
Road e-newsletter.

CLICK HERE for Bulletin archives.

CLICK HERE for Colorado Auto
Outlook archives.

CLICK HERE for Denver Auto
Outlook archives.

ONLINE REGISTRATION

CLICK HERE to register online
for various CADA seminars & events.

MEMBERSHIP RESOURCES

CLICK HERE for details on the
Speaker and Educational
Resources.

CLICK HERE for a list of current
Endorsed Vendors/Programs.

CLICK HERE for a list of current
Allied Members.

CLICK HERE for an order form for
CADA forms.

CLICK HERE for information on all member services.

www.nada.org


www.aiada.org

CLICK HERE for NADA
Regulatory Affairs information.

STATE GOVERNMENT RESOURCES

CLICK HERE for the Auto Industry
Division of the Colorado Dept.
of Revenue.

CLICK HERE for the Title and
Registration section of the
Colorado Dept. of Revenue,
Motor Vehicles Division.

CLICK HERE for the Colorado
Department of Labor &
Employment website.

Visit us at www.coloradodealers.org.

CADA Hours of Operation
Monday to Thursday, 7 a.m. to 5 p.m.
Friday, 7 a.m. to 4 p.m.

CADA STAFF

CLICK HERE for a CADA staff listing

If you have questions
or suggestions regarding this
e-newsletter, please
contact Lauren Stadler at
lauren.stadler@coloradodealers.org

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ENDORSED VENDOR/PROGRAMS

CLICK HERE for information about the
Endorsed Vendors/Programs.

If you have trouble viewing any of the links or documents in this e-newsletter, please CLICK HERE to access the web-based version.

* * * IMPORTANT * * *
DEALER COMPLIANCE ALERT

New Model Privacy Forms & Risk Based Pricing Notices Effective January, 1 2011

I. MODEL PRIVACY FORM CHANGES

UNDERSTANDING THE NEW MODEL PRIVACY NOTICE
By: Shawn D. Mercer, Esq.*

Model privacy forms are available for dealerships to use to meet the content requirements and in some cases, opt-out notice required under federal law. The model forms are standardized documents developed by the Federal Trade Commission (FTC) and the Federal Reserve Board (FRB) that contain very specific required page layout, content, format, style, pagination and shading. These forms are intended to replace the privacy notices currently used by dealerships, and offer a “safe harbor” protection for those who use the proper form. It is highly advisable for all dealerships to choose the appropriate model privacy form from the six available and begin using the new form no later than January 1, 2011.

<CLICK HERE for full guidance/summary>

* Shawn D. Mercer is a Partner/Shareholder in the Raleigh office of Bass Sox Mercer.

Need Assistance? 
For those who need assistance selecting the appropriate model privacy form or guidance for particular situations, please complete this Questionnaire and return to Shawn Mercer as indicated—he will review your situation, recommend a model form as appropriate, and provide an estimate if your situation requires more in-depth consultation.  Shawn can complete the opt-out and sharing sections for you, and will forward the appropriate form to CADA to add-in the basic contact fields and for printing.

> See attached ORDER FORM if you have not yet updated your privacy notice forms!
[NOTE:  Orders should be placed BY DEC. 27TH for delivery by Dec. 31st; turnaround is 3-4 days].

II. RISK BASED PRICING NOTICES
The Risk Based Pricing Notice is a new requirement that also takes effect January 1, 2011. To meet the new federal mandate, most dealerships will be providing an Exception Notice (two versions based on whether credit score is available) to all consumers who apply for credit. Typically credit bureaus and related companies that handle credit applications will be providing these notices to dealerships at no cost—check with your service providers. If needed, CADA can also print these customized forms for dealerships as well (if two-part copies and/or signature versions are still needed, for example)
Contact us if interested for pricing or to place an order.

For questions or more information, contact:

Compliance:
Tammi McCoy / Direct: 303.282.1449
tammi.mccoy@coloradodealers.org

Billing/Place an Order:
Lauren Stadler / Direct: 303.457.5123
lauren.stadler@coloradodealers.org

DISCLAIMER: CADA is not authorized to dispense legal advice. The information contained in this weekly email is intended to provide important updates and reminders regarding statutes, litigation, and regulations. CADA always advises that dealers should consult legal counsel on the specifics of any laws or regulations to ensure proper compliance.

As car dealers our visions are always beyond the present and embedded in the future. With new car sales on the rise and crippling legislation prevented, we, as dealers can certainly see a Bright Future Ahead!

To learn more about this Future and to explore all the possibilities it can contain, be sure to attend this year’s NADA Convention and Expo in San Francisco. We have so much in store for you! To name a few things headed your way:

• New on Friday night!  A NADA welcome reception co-sponsored by JD Power and Associates
• One stop registration and housing online with immediate confirmation!
• A compact 3 day Convention that wraps up on Monday at 5:00
• New workshops by Google, Ritz Carlton and JD Powers!
• General Sessions to be held on the third level in Moscone West, eliminating the busing to Civic Auditorium
• Advance registration open right up to Friday!
• Early Bird discounted registration fees
• New ID card scanners to replace the expo cards
• Optional badge mailing to your home enabling streamlined credential pickup.

Visit www.nadaconventionandexpo.com for more details!

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