DealerTrack Forms Compliance Advisory Council to Better Serve Dealer Customers
11 2월 2006 - 10:00PM
PR Newswire (US)
Thomas B. Hudson of Hudson Cook to be Founding Member of Council
LAKE SUCCESS, N.Y., Feb. 11 /PRNewswire-FirstCall/ -- DealerTrack
Holdings, Inc. (NASDAQ:TRAK) today announced the formation of the
DealerTrack Compliance Advisory Council, which will assist the
company in its efforts to educate dealers about compliance issues
and in developing additional products that help dealers better
manage their compliance risks. "Dealers face an ever-increasing
challenge in identifying and interpreting the myriad of regulations
that impact their business every day," said Mark O'Neil, chairman
and chief executive officer of DealerTrack. "By forming our
Compliance Advisory Council, we are bringing together experts with
a broad range of perspectives and experience in automotive
compliance issues, to help support our dealer customers with this
critical area." "Within the dealer community, there is a serious
lack of information or misinformation about compliance," said
Thomas B. Hudson, partner in Hudson Cook, LLP. "I am pleased to be
part of DealerTrack's innovative approach in proactively supporting
dealers on complex compliance issues." Mr. Hudson has spoken and
been published extensively on the topics of compliance laws and
consumer leasing. He is president-elect and a founding member of
the American College of Consumer Financial Services Lawyers, and
also has served as chairman of the American Bar Association's
Subcommittee on Personal Property Finance. Compliance Advisory
Council members will lend their expertise in areas such as new laws
and regulations, current dealership practices, activity by state
and national associations, relevant new case law, and
compliance-related products and services. In addition, council
members will periodically review and assist in updating
DealerTrack's recently introduced Compliance Guide. DealerTrack's
new Compliance Guide is a free booklet designed to educate dealers
about issues related to compliance, and to offer recommended
practices that dealers should engage in on every deal. The guide,
available in both printed and electronic formats, covers the
following areas: Consumer Privacy, Data Security & Identity
Theft; Credit Applications and Contracts; Aftermarket Selling; and
Recordkeeping & Destruction. It also contains a glossary
explaining key compliance terms. DealerTrack recently introduced
two new compliance products: DealWatch(TM), a tracking and
reporting solution that enables dealers to securely monitor, store
and manage deal documents and information; and ExactID(TM), a tool
that enables dealers to verify a customer's identity and check it
against the government's OFAC database. About DealerTrack
(http;//http://www.dealertrack.com/) DealerTrack is a leading
provider of on-demand software and data solutions for the
automotive retail industry in the United States. DealerTrack
utilizes the Internet to link automotive dealers with banks,
finance companies, credit unions and other financing sources, and
other service and information providers, such as the major credit
reporting agencies. DealerTrack has established a network of active
relationships with over 21,000 automotive dealers, including over
80% of all franchised dealers; over 200 financing sources,
including the 20 largest independent financing sources in the
United States and nine captive financing sources; and a number of
other service and information providers to the automotive retail
industry. DealerTrack's credit application processing product
enables dealers to automate and accelerate the indirect automotive
financing process by increasing the speed of communications between
these dealers and their financing sources. DealerTrack's integrated
subscription-based software products and services enable automotive
dealer customers to receive valuable consumer leads, compare
various financing and leasing options and programs, sell insurance
and other aftermarket products, document compliance with certain
laws and execute financing contracts electronically. Safe Harbor
for Forward-Looking and Cautionary Statements Certain statements in
this press release are "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. These statements
include the expected benefits of DealerTrack's new products for
DealerTrack's customers. These statements involve a number of
risks, uncertainties and other factors that could cause actual
results, performance or achievements of DealerTrack to be
materially different from any future results, performance or
achievements expressed or implied by these forward-looking
statements. Factors that might cause such a difference include:
increased competitive pressure from other industry participants and
the inability to execute any element of DealerTrack's business
strategy, including selling additional products and services to
existing and new customers; risks associated with DealerTrack's
systems and networks, including security breaches and events beyond
DealerTrack's control; the impact of the automotive retail industry
on DealerTrack's business; the impact of Federal and state
legislation on DealerTrack's business; DealerTrack's success in
expanding its customer base and product and service offerings as
well as in pursuing acquisitions and strategic alliances. Other
factors which could materially affect such forward-looking
statements can be found in DealerTrack's filings with the
Securities and Exchange Commission, including the risk factors
included in DealerTrack's Registration Statement on Form S-1 (File
No. 333-126944). Investors, potential investors and other readers
are urged to consider these factors carefully in evaluating the
forward-looking statements and are cautioned not to place undue
reliance on such forward-looking statements. The forward-looking
statements made herein are only made as of the date of this press
release and we undertake no obligation to publicly update such
forward-looking statements to reflect subsequent events or
circumstances. CONTACT: Liz Zale DealerTrack, Inc. (516) 734-3758
Jen Malloy RF/Binder Partners (212) 994-7542 First Call Analyst:
FCMN Contact: jen.malloy@rfbinder.com DATASOURCE: DealerTrack
Holdings, Inc. CONTACT: Liz Zale of DealerTrack, Inc.,
+1-516-734-3758, ; or Jen Malloy of RF/Binder Partners for
DealerTrack Holdings, Inc., +1-212-994-7542, Web site:
http://www.dealertrack.com/
Copyright
(MM) (NASDAQ:TRAK)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024
(MM) (NASDAQ:TRAK)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024