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The CFPB and DOJ announced two actions against Fifth Third Bank on Monday, one of which requires the finance source to pay $18 million in restitution to minority auto loan borrowers, as well as limit its dealer partners’ ability to markup interest rates on auto loans.
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Ahead of her appearance at the Innovate 2015 conference, the FTC official who led Operation Ruse Control has released a list of advertising sins that have put dealers on her regulatory radar.
Read More →New York Attorney General Eric T. Schneiderman announced two separate actions this week against a 22-store dealer group and a Hyundai dealership, both related to deceptive advertising practices.
Read More →Two auto dealers in Las Vegas agreed to settle FTC charges that they used deceptive ads to promote the sale or leasing of their vehicles, including advertising heavily discounted prices that were not generally available to consumers.
Read More →The Texas Department of Motor Vehicles Enforcement Division has pulled back on its plan to fine dealers with listings on CarGurus.com after the department and the shopping site discussed revisions to CarGurus’ advertising practices in a call yesterday.
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Last week, the Texas Department of Motor Vehicles Enforcement Division issued a cease-and-desist letter to CarGurus and the state’s dealer association, threatening dealers with fines up to $10,000 a day if the shopping site does not revise its advertising practices.
Read More →The New Jersey Division of Consumer Affairs has filed a lawsuit against a used-car dealership accused of selling used cars without disclosing prior damage and selling vehicles “as is” when they qualified for a warranty, among other things.
Read More →The FTC unanimously approved a final order settling its deceptive advertising complaint against Dallas-based Trophy Nissan, which was charged on Dec. 23 with violating the FTC Act, the Consumer Leasing Act and the Truth in Lending Act.
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Your process for total compliance and F&I sales should be designed to meet a common goal.
Read More →The FTC took action against two dealer groups it targeted in 2012 for deceptive advertising. They were charged with violating the FTC's orders prohibiting them from deceptively advertising the cost of financing or leasing a car.
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