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Consumer Portfolio Services CEO Charles Bradley laid out the lender’s compliance efforts during a quarterly earnings call last week. The finance source’s subprime lending activities are currently being investigated by Department of Justice.
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.
Read More →Moody’s expects the performance of new and outstanding auto loan ABS deals to suffer temporarily due to current regulatory activity, but it does see a silver lining in the increased scrutiny of the auto finance marketplace.
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.
Read More →RouteOne attorney Joseph Karam and National Business Development Manager Jesse Pappas will discuss the forthcoming scrutiny of F&I products by the CFPB and the FTC during a webinar on July 23.
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A coalition of consumer-protection groups asked the FTC to investigate CarMax for selling recalled vehicles. CarMax officials claim the chain is doing the best it can with a broken system.
Read More →The FTC has approved final consent orders involving the deceptive advertising practices of 10 dealerships. The cases were part of Operation Steer Clear, a nationwide sweep focusing on misleading advertising.
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The Federal trade Commission issued a letter last week in support of legislation that would overturn Illinois’ long-standing ban on Sunday car sales. Dealers in the state, however, remain steadfastly opposed to the bill.
Read More →After being warned that it was failing to adhere to the FTC’s Used Car Rule, the Abernathy Motor Co. was charged with not displaying a Buyers Guide on used vehicles offered for sale. Each violation could result in a civil penalty of up to $16,000.
Read More →By unanimous vote, the Federal Trade Commission approves final orders settling charges against two dealers for deceptive advertising.
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