Ever wonder how an auction views the CFPB guidelines for its consigning partners? It’s simple: government regulations need to be followed, and auctions need to comply to insure both its partners and the consumers it represents have adequate protections.

However, let’s also not assume that the auctions should be dictated to on how to run their businesses nor have specific recommendations passed down under the guise of a white paper. Auctions have a long history of both serving their customers and their communities and following all city, state and federal guidelines that apply to its businesses, and its employees, and should not let the CFPB — under the guise of consumer protections — insert themselves into that process.

As consumers, all of us believe our personal information should be secure, and as business people we create the safeguards, both internal with our staffs and external with our software firewalls, to insure this process occurs. As a result, giving away our privacy rights in blanket contracts related to audits and record keeping beyond the scope of specific repossession customer information complaints, shows disrespect for the incredible job that this industry does for our consigning partners.

What I recommend is that our industry associations, such as IARA and NAAA, along with others related to the finance industry, take a unified and proactive stance toward Congress through our PAC’s (political action committees) or other avenues, to show this industry in a positive light and to make it clear that we will support the rights of all consumers that we are engaged with — without violating any of the rights inherent to our own businesses and that of our own employees.

It’s time for partnerships and driving respect for our industry and its value to this country, and it is also time that our partners realize these controls to help them run their businesses have costs that need to be addressed and are not just a series of rules that need to be complied with and do not reflect that side of the issue.

Jim DesRochers is vice president at Dealers Auto Auction of the Southwest.

Editor’s Note: As with any contributed content, the opinions expressed in this and other editorial columns are solely that of the author’s and do not necessarily reflect those of Auto Remarketing or its parent company.