In recent months, a multitude of companies have experienced data security breaches.  Data security must be top of mind for every company that interfaces with user data.  Companies today need to dedicate resources to help ensure the safety and security of the data it holds.  PassTime takes data security very seriously and has maintained stringent company procedures.

SVR Tracking reportedly had a serious security breach that leaked more than 500,000 records online, including logins, passwords, email addresses, and vehicle information. As reported by numerous outlets including Gizmodo, Mashable, and MacKeeper Security, The Kromtech Security Center identified the information was publicly accessible on a misconfigured server.

How PassTime Keeps Data Safe

PassTime maintains data within its own private cloud, hosted by Zayo Holdings Group, a top-tier provider of communications infrastructure services, including fiber and bandwidth connectivity, colocation and cloud infrastructure.  Zayo is a secure SSAE16/ SOC 1 Type 2, SOC 2 Type 2 and SOC 3 certified data center.

Password Encryption

PassTime uses Advanced Encryption Standard (AES-256) for the encryption and storage of passwords, which is a symmetric block cipher chosen by the U.S. government to protect classified information.

Proactive Approach

PassTime has take a proactive approach to its overall data and network security.  It periodically contracts cybersecurity companies to perform security audits and penetration testing of its networks to ensure the protection of all critical data.

Are you the one putting your business at risk?  Yes, really – it might be you.  Despite the record sales you’ve brought in – despite the cost saving measures you’ve put in place – despite the efficiency of the organizational procedures you’ve implemented. If you’re the person putting GPS tracking devices on the vehicles you’re selling – without disclosing it to the consumer – then you might be putting your business at risk.

The use of GPS devices to help mitigate the risk for creditors in the subprime auto finance industry has been around for a long time.  Yet, even after all this time, there are GPS providers – and dealers or creditors – who STILL operate without obtaining written disclosure from the consumer when using this type of technology.

Let’s not kids ourselves.  It is not the technology that’s the problem.  It’s your choice not to disclose the use of that technology or failure to comply with state and federal regulations that is the problem.  This decision could make you a threat to your own business.

Why should you be disclosing?

Well, depending upon your state, it might be illegal not to.  Several states including California, New Jersey and Nevada have recently passed laws REQUIRING disclosure of GPS devices to the consumer.  The laws vary by state on exactly what must be disclosed and exactly how it must be disclosed, but disclosure itself is not an option.

Even if it is not specifically illegal not to disclose in the states you are doing business, by choosing not to disclose the use of GPS devices to your customers, you are still exposing your business to some serious liability.

With Right-to-Cure laws, Consumer Protection Acts, Consumer Privacy Acts, not disclosing the use of the device could open you up to legal issues such as fines or even civil action.

Tom Hudson, partner at law firm Hudson Cook LLP encourages dealers to disclose the use of devices, stating, “Every state that has legalized devices by statute has also required a dealer or finance company to disclose that a vehicle has been equipped with a device. Further, more than one state has fined dealers for failing to disclose the devices for engaging in an unfair, deceptive or abusive act or practice.  You’d have to be brain dead not to disclose the presence of the device.”

What might happen if you don’t disclose?

Of course, the CFPB could take notice of your position not to disclose.  If you think you’re too small to get the attention of the CFPB, I wouldn’t count on it.  Just look at Y King S Corp., which does business as Herbies Auto Sales, in Colorado.  Last year, the company was ordered to pay $700,000 in redress to consumers for what the CFPB called violations in the Truth in Lending Act and the Dodd-Frank Wall Street Reform and Consumer Financial Protection Act.  Would the CFPB consider failing to disclose the use of GPS technology a violation as well?

It is fair to say that having a customer sign a written disclosure about the existence of a device, how it operates, and how it will be used by the creditor, helps reduce the liability of your company that could prevent a lawsuit or other type of consumer complaint.

So, if your GPS provider is saying you don’t need to disclose – maybe you should ask them if they are also offering to cover your legal fees or a potential fine from the CFPB or a class-action lawsuit for invasion of privacy down the road.

PassTime, an industry leading GPS provider offers technology that is compliant with state and federal regulations.  Additionally, the company employs a certified compliance officer and offers advice and recommendations along with free webinars with the Hudson Cook law firm to its customers.

Does your provider do that?

Click here for more info on PassTime’s compliance efforts.

The Texas Independent Auto Dealers Association (TIADA) has awarded Bill Murphy of CP Insurance Associates the 2017 Presidential Award.

The award was given at the TIADA Conference and Expo in July.

TIADA’s press release announcing the award stated, “The Presidential Award, which is not presented every year, honors those individuals who over the years have given more than just time, money or resources to support the association. A presidential award winner is an individual who contributes for many years at all levels.”

Murphy has been greatly involved in the industry, specifically in Texas including education, lobbying efforts, consulting and other contributions.

Additionally the press release stated, “Bill has been a fixture in our organization helping us to not only serve our members but also the entire industry for many years,” TIADA Executive Director Jeff Martin said. “We are excited to honor him for his many contributions to TIADA.”

Congratulations Bill!

PassTime VP of Financial Services, Kevin Carr recognized by Subprime Auto Finance News in its recent Movers & Shakers edition.

Each year, Subprime Auto Finance News highlights some of the best of the best professionals who lead the way in keeping finance companies and service providers successful.

On this year’s list is Kevin Carr, PassTime’s VP of financial services.  Carr joined PassTime nearly two years ago to be vice president of financial services, leveraging his time with Credit Acceptance into “tremendous success” with the device company, thanks to intimate knowledge of finance companies.

“Throughout his time at PassTime, Kevin has had the opportunity to better understand the needs of his clients and the ability to provide solutions that meet those needs,” his nomination said. “Additionally, Kevin has strengthened his relationships and the trust of both prospects and customers by taking an approach of consulting and educating, a method PassTime has utilized for decades.

Carr has helped PassTime build a new company segment focused solely on working with finance companies, credit unions and banks. “Kevin is always willing to share his knowledge with his colleagues as well as learn from them, making the company, himself and his colleagues better able to serve its customers,” the nomination said.

To view the entire Movers & Shakers edition, click here.

The All New PassTime Override App allows consumers to request a disable override command directly from their smartphone

PassTime has launched the new PassTime Override App – breakthrough technology making it even easier for consumers using PassTime’s patented Automated Collection Technology.

Consumers can now request override commands directly through the PassTime Override App for iPhone and Android without the need to use the remote or call the customer care center.  Since its inception, PassTime has included override commands to help ensure a consumer could drive their vehicle, even if it was disabled, in the event they needed to, like an emergency.  With the new App, consumers can quickly and easily request an Override Command in the event their vehicle is disabled.

For more information on the PassTime Override App or download it, click here.