Industry Updates

FTC Extends Deadline by Six Months for Compliance with Some Changes to Financial Data Security Rule

Financial institutions covered by the Safeguards Rule must comply with certain provisions by June 9, 2023 The Federal Trade Commission announced on November 15, 2022 that it is extending by six months the deadline for companies to comply with some of the changes the agency implemented to strengthen the data security safeguards financial institutions must…
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Protect Your Ride! Motorcycle Thefts are on the Rise for Second Year in a Row.

Motorcycle thefts are up 26%, according to a new NICB report. DES PLAINES, Ill., Aug. 5, 2022 /PRNewswire/ — It might be a beautiful summer day for a ride, but motorcycle owners should know there is a higher chance of theft as they hit the road. Motorcycles have been increasingly targeted for theft, according to the newly…
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Data Breach? Report it.

Texas law requires certain businesses that experience a data breach of system security to notify affected consumers AND also to provide notice of that data breach to the Office of the Texas Attorney General if the breach affects 250 or more Texans. Effective September 1, 2021, the notice you provide to the Texas Attorney General…
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FTC Safeguards Rule: What Your Business Needs to Know

From the Federal Trade Commission… As the name suggests, the purpose of the Federal Trade Commission’s Standards for Safeguarding Customer Information – the Safeguards Rule, for short – is to ensure that entities covered by the Rule maintain safeguards to protect the security of customer information. The Safeguards Rule took effect in 2003, but after public comment, the…
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Fingerprinting Requirement For GDN & Franchised Dealer License Applicants Coming Soon

From Monique Johnston – Director, Motor Vehicle Division… At the June 30, 2022 meeting, the Board of the Texas Department of Motor Vehicles adopted rules requiring certain new applicants and existing dealer license holders to be fingerprinted (43 Tex. Admin. Code § 211.6). Applications submitted on or after September 1, 2022, will be subject to…
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A Note from TMDA Treasurer Trey Sralla

It’s very easy to get caught up in national politics and what the Republicans and Democrats are saying about each other. Networks like Fox News, MSNBC and CNN have made a FORTUNE over the years feeding the public the mud that is constantly being slung in either direction. The fact of the matter is, no matter…
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