Pub. 11 2021 Issue 3

6 IADA Chairman’s Message 8 The FTC Safeguards Rule — Perils of Non-Compliance — 4 Key Must-Haves to Avoid These Peril s 10 Working Together Through Our Legal Defense Fund 12 Counselor ’s Corner: Customer Data Breach Security — Dealers Should Ensure Data Security Components Are In Place And Enforced In Existing And Prospective Vendor Agreements 14 Consultant ’s Corner: What to Do in an Inventory-Driven Sales Slow Down 16 Solar Power May Play a Bigger Role for Dealers Illinois Automobile Dealers Association 300 West Edwards Street | Springfield, Illinois 62704 T 217.753.0220 F 217.753.3424 IllinoisDealers.com CONTENTS Vol. 31 No. 3 Chairman Mr. Rick Yemm / 309.344.2727 Yemm Chev-Buick-GMC-Chry-Dodge-Jeep, Inc. 2195 Henderson Street, Galesburg, IL 61401 Vice Chairman Mr. Sean Grant / (217) 862-5300 Landmark Chrysler Jeep & Ford 2331 Prairie Crossing Dr., Springfield, IL 62711 Secretary/Treasurer Mr. David Parkhill / (217) 352-4275 Sullivan Parkhill Automotive Champaign, IL 61822 President Peter J. Sander / 217.753.0220 Illinois Automobile Dealers Association 300 West Edwards, Springfield, IL 62704 Illinois Automobile Dealers Association 300 West Edwards Street, Springfield, IL 62704 T 217.753.0220 • F 217.753.3424 IllinoisDealers.com 2021 OFFICERS ©2021 Illinois Automobile Dealer News | The newsLINK Group, LLC. All rights reserved. Illinois Automobile Dealer News is published four times each year by The newsLINK Group, LLC for the Illinois Automobile Dealers Association (IADA) and is the official publication for this association. The information contained in this publication is intended to provide general information for review, consideration and education. The contents do not constitute legal advice and should not be relied on as such. If you need legal advice or assistance, it is strongly recommended that you contact an attorney as to your circumstances. The statements and opinions expressed in this publication are those of the individual authors and do not necessarily represent the views of the IADA, its board of directors, or the publisher. Likewise, the appearance of advertisements within this publication does not constitute an endorsement or recommendation of any product or service advertised. The Illinois Automobile Dealer News is a collective work, and as such, some articles are submitted by authors who are independent of the IADA. While the Illinois Automobile Dealer News encourages a first-print policy, in cases where this is not possible, every effort has been made to comply with any known reprint guidelines or restrictions. Content may not be reproduced or reprinted without prior written permission. For further information, please contact the publisher at: 855.747.4003. 8 12 16