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The Southern California-based dealer group was charged with violating a 2014 administrative order prohibiting it from misrepresenting in advertisements how much consumers could pay to finance or lease a vehicle.
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Hudson plays Chicken Little as two New York dealers face the wrath of allegedly overcharged customers.
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The two agencies announced before Thanksgiving that the dollar thresholds in the TILA’s Reg Z. and the CLA’s Reg. M for exempt consumer credit transaction will remain at $54,600 for 2017.
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When it comes to regulations such as Truth in Lending and Reg Z, there are no technicalities, only violations.
Read More →The FRB and CFPB announced on Nov. 25 that 2016 dollar thresholds for Reg. Z and M exemptions will remain unchanged from 2015. The AFIP says the accepted practice for processing transactions above the threshold will also remain unchanged.
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A woman who says she was duped into purchasing “void and worthless” GAP coverage has filed a class action suit against the finance source on behalf of Illinois customers who have signed similar contracts.
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 →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 →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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Subprime loan programs with automatic interest-rate reductions are great for both dealers and their customers, but could run afoul of TILA standards.
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