Auto lenders should prepare now for new privacy rules

In response to a rise in cyberattacks and data breaches, the Federal Trade Commission decided to amend the Safeguards Rules under the Gramm-Leach-Bliley Act. These amendments are designed to safeguard customer privacy and prevent security infringements. This means financial institutions, including auto lenders, will be required to demonstrate a robust security system and close any holes.

Here’s why this matters and how auto lenders can prepare themselves to meet the new legal requirements without compromising efficiency or customer experience.

Source link

Leave a Comment

Your email address will not be published. Required fields are marked *

Shopping Cart