As several dealerships have recently recognized:
A failure to comply with Federal compliance mandates, and/or employee misunderstanding and lack of acknowledgment of regulatory mandates, could be placing the dealership at a perilous risk! Is your dealership truly prepared?
Here is a short reminder:
- Dealerships are required to maintain a dealership compliance manual.
- Dealerships are required to maintain compliance with various federal regulatory rules and regulations and should provide formal employee training, on an annual basis, regarding federal rules, laws, regulations & mandates.
- A documentation of employee compliance training should remain in the employee’s personnel file, and made readily available for potential government audits, and/or potential civil litigation.
- All “New hires” should be provided training, immediately upon hiring, with appropriate documentation of training.
- A recent industry article pointed out that “Several federal agencies and the… Consumer Financial Protection Bureau (CFPB) require and advise all…dealers to perform employee federal compliance training regarding these regulations” and furthermore that “Dealership employees should be retrained on regulations annually”
Let the USCA assist your dealership with these mandates.
If you are already a member of the US Compliance Academy, Click Here, to obtain the Dealership Compliance Manual
at the discounted member rate.
Or, call us at 541-408-4136 to speak with us directly to get more information.