Dealerspan News

Michael Benoit collaborates with Dealerspan on Red Flag Regulations

Dealerspan, LLC is pleased to announce that it has engaged Michael Benoit of Hudson Cook, LLP to assist Dealerspan in its development of an automated Red Flags Rule compliance system. Hudson Cook is a leading provider of legal compliance services to the financial services industry, and Michael is a well known speaker and author on this and other compliance matters, and he brings a wealth of experience and knowledge to the regulation that can be interpreted and implemented many ways.

This new rule applies to all dealers, big and small, who provide financing in the dealership or through 3rd parties to consumers, and has a mandatory compliance date of November 1st of this year. For more information on how we can assist your dealership with implementing an effective Red Flag Identity Theft Prevention Program click here.

Michael A. Benoit is a partner in the Washington DC office of Hudson Cook, LLP. He advises banks, sales finance companies, auto leasing companies, mortgage lenders, auto dealers, and other creditors and technology providers on a wide range of consumer financial services law, including the Truth In Lending Act and Regulation Z, the Consumer Leasing Act and Regulation M, the Equal Credit Opportunity Act and Regulation B, the Red Flag Regulations, the Fair Credit Reporting Act, the Gramm-Leach-Bliley Act, the Electronic Signatures in Global and National Commerce Act, the Uniform Electronic Transactions Act and the USA Patriot Act. In addition, his practice covers matters involving federal and state laws relating to electronic commerce and online lending, privacy, fair lending, telemarketing, personal and real property financing, and leasing and collection practices.