DealerTrack Names Experian Executive to New Compliance Advisory Council
02 3월 2006 - 11:50PM
PR Newswire (US)
Marc Kirshbaum of Experian joins as Founding Member of Council LAKE
SUCCESS, N.Y., March 2 /PRNewswire-FirstCall/ -- DealerTrack
Holdings, Inc. (NASDAQ:TRAK) today announced that Marc Kirshbaum,
President of Experian's Fraud Solutions division, has joined
DealerTrack's Compliance Advisory Council as a founding member. The
Council was recently formed to assist DealerTrack in its efforts to
educate dealers about compliance issues and to develop additional
products that help dealers better manage their compliance risks.
Other founding members include Thomas B. Hudson of Hudson Cook, and
representatives from DealerTrack's legal and management team;
additional members will be announced in the near future. "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." "DealerTrack's
Compliance Advisory Council is positioned to play a leadership role
in helping dealers to better understand the compliance risks they
face and the concrete steps they can take to protect their
businesses," said Marc Kirshbaum, President of Experian's Fraud
Solutions division. "Risks such as fraud and identity theft are
growing rapidly, and I look forward to contributing as the Council
strives to mitigate those risks." Mr. Kirshbaum, who has been head
of Experian's Fraud Solutions division since 2004 and with the
company for nearly four years, brings a wide variety of business
and legal experience to the Council. His background includes
strategic and financial planning, business development, product
marketing, corporate law, operations and sales, and he was also a
practicing attorney. 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. For a copy of
the guide, contact DealerTrack at 866-339-5723. DealerTrack also
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://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 DATASOURCE:
DealerTrack Holdings, Inc. CONTACT: Liz Zale, DealerTrack, Inc.,
+1-516-734-3758, ; Jen Malloy, RF|Binder Partners, +1-212-994-7542,
Web site: http://www.dealertrack.com/
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