Wednesday, Mar. 01, 2017, 04:24 PM UPDATED 4:23 PMBy Auto Remarketing Staff
NEW YORK -
Following the Federal Trade Commission’s move to increase its non-compliance fine and OSHA’s decision to increase max penalties, Total Dealer Compliance (TDC) and Automotive Development Services (ADS) entered into a strategic partnership that provides a comprehensive solution to ADS’ dealers looking to reduce exposure from federal regulations proactively.
“We recognized that meeting the new, stricter F&I standards not only keeps you out of trouble, it makes you more money,” ADS president Mark Nania said in a news release.
“We believe in applying our expertise in training and personnel development to our customers which complements TDC’s modus operandi. Total Dealer Compliance’s on site detailed audit and e-learning platform, which boasts over 20 online courses, will be available to ADS’ network for continual education and certification.”
The fine for non-compliance went from $16,000 to $40,000 and OSHA increased max penalties from $70,000 to $124,709.
“Car dealers are viewed as easy targets by regulators, therefore are excited to help mitigate the risks ADS’s network may face,” TDC president Max Zanan said. “Increased compliance results in transparency and improves the customer experience.”
“By combining our strength and resources, we look forward to providing a comprehensive solution for ADS’ auto dealers to ensure compliance with Federal regulations,” Zanan continued.
ADS is currently working with more than 200 dealers in 11 states.