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.
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.
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.
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.
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.
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.
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.
By unanimous vote, the Federal Trade Commission approves final orders settling charges against two dealers for deceptive advertising.
The NADA issued at its annual convention an addendum to the dealer data guidance it released this past summer. It includes a sample vendor agreement that lays out limitations on what data tech vendors can access from dealers.
The magazine’s legal expert found several common mistakes in the paperwork for his new car, each of which could cause trouble for the dealer.
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