The FTC recently proposed amendments to its Gramm-Leach-Bliley Act (GLBA) rules requiring motor vehicle dealers to send their customers an annual privacy notice. The amendments would allow motor vehicle dealers to notify their customers that a privacy policy is available on their website, subject to certain conditions. Comments on the proposal are due on or before August 31, 2015.
While Dodd-Frank transferred primary jurisdiction over the GLBA to the CFPB, the FTC retained authority over motor vehicle dealers predominantly engaged in the sale and servicing of motor vehicles, the leasing and servicing of motor vehicles, or both. The FTC’s proposal closely reflects the final rule issued last year by the CFPB for financial institutions subject to the CFPB’s GLBA rulemaking authority.
For more on the FTC’s proposal, see our legal alert.