It is our strong belief that every firm involved in automotive service contracts must be fully aware of all applicable laws that regulate their behavior and must fully comply with those rules. We will not tolerate firms in this industry who do not comply with applicable laws and regulations.
Selbyville, DE (PRWEB) July 21, 2009
As part of its ongoing effort to promote regulatory education and compliance in the automotive service contracts industry, the Vehicle Protection Association (VPA) today announced that regulatory training for all member firms will be provided on July 22, 2009 at 2 PM Central, 3 PM Eastern.
VPA regulatory training will cover compliance requirements related to consumer protection and respect for consumer marketing preferences including Do Not Call, Privacy, CAN SPAM, fax laws, registration statutes, UDAP, and other applicable regulatory frameworks.
"Our members are committed to the highest customer service and compliance standards," said Larry Hecker, executive director of the VPA. "It is our strong belief that every firm involved in automotive service contracts must be fully aware of all applicable laws that regulate their behavior and must fully comply with those rules. We will not tolerate firms in this industry who do not comply with applicable laws and regulations."
The automotive service contracts industry helps consumers to protect their vehicles after the expiration of the manufacturer's warranty. Coverage typically includes major repairs, as well as other items such as roadside assistance.
Automotive service contracts give consumers peace of mind, allowing them to know that they will not be at risk for a personal or financial crisis that results from vehicle problems after the manufacturer's warranty expires.
Unfortunately, a handful of bad actors in the industry recently engaged in aggressive telemarketing tactics that involved "robo-calling," the act of calling thousands of consumers with prerecorded voice messages that are often misleading. The VPA and its members have condemned these actions publicly and are actively taking steps to ensure that consumers are protected from these illegitimate and illegal tactics. Regulatory agencies have filed suit against three companies that used these techniques.
"We feel horrible for the consumers that were victimized by these unethical companies. We are all shocked that this occurred and we are angry that this has given the entire industry a black eye," noted Ted Terry, who runs American Auto Shield, a vehicle service contract administrator based in Arvada, Colorado. "The only silver lining is that the industry has come together and we all have agreed that it is in our best interest and the interest of consumers that our industry take a proactive approach in addressing current regulatory concerns."
The VPA regulatory training workshop offered on July 22rd will be the first of many such workshops. In addition to regulatory training, VPA and its members are pursuing other initiatives to protect consumers. This includes outreach to the FTC and Attorneys Generals to inventory and address industry issues, the adoption of industry best practices, the creation of an industry certification program and other initiatives.
About the Vehicle Protection Association
The Vehicle Protection Association (VPA) is a not-for-profit trade association representing firms that are active in the automotive service contract industry. Members include service contract finance companies, marketers, administrators, insurers, and software providers. VPA currently has more than 50 members. The organization is committed to ensuring regulatory compliance among members, educating consumers on their rights, protecting consumers, and otherwise ensuring the integrity of the automotive service contract industry.
For More Information:
Larry Hecker, Executive Director
Vehicle Protection Association (VPA)
Phone: (302) 524-1150