Potential revisions to federal data security rules could add billions of dollars in costs to U.S. auto dealerships in total, as stores already are slumped under the weight of shrinking margins and slowing new-vehicle sales.
Proposed changes to the Federal Trade Commission's Safeguards Rule, which dictates how financial institutions protect consumer data, would require dealerships nationwide to shell out hundreds of thousands of dollars each annually to comply, on top of what they spend to comply with other regulations, leaders of the National Automobile Dealers Association contend.
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