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Dealers must be careful they don’t run afoul of the law when it comes to such deceptive practices, as there are many cases pointing to the potential bad ends of such deals.
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The used-car dealer is accused of selling vehicles with mechanical defects, charging illegal fees and repossessing vehicles without the required legal notices. Twenty-two formal complaints were made against the dealer by the time the suit was filed.
Read More →A memo released by the NADA this week states that the CFPB’s proposed method for eliminating fair lending risk in the auto lending arena would do no such thing. Instead, dealers would still have discretion when it comes to selecting a finance source for their customers.
Read More →Tomorrow, RouteOne will discuss discretionary dealer markup practices during a complimentary compliance webinar.
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Fifth Third Bancorp revealed in a regulatory filing this month that its indirect auto loan portfolio is being examined by the Department of Justice to determine whether the finance source engaged in discriminatory practices.
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In a statement posted on its website, Tesla denounced the last-minute addition of wording to legislation in Missouri that would effectively ban the automaker from selling directly to consumers in the state.
Read More →Senate Bill 686 would make it illegal for used-car dealers and rental car companies to sell used cars with unrepaired recalls issues. Senator Hannah Beth Jackson held a press conference about the bill this week.
Read More →The U.S. Department of Labor has filed a lawsuit against a former dealer who refuses to administer the business’ 401(k) plan, leaving participants without access to their money.
Read More →The FTC has approved final consent orders settling charges that Nissan North America Inc. and an advertising agency deceptively advertised a Nissan Frontier truck pushing a dune buggy up a steep hill, something the truck cannot do.
Read More →Anne P. Fortney, a partner in the firm’s Washington, D.C., office, was recognized by the American College of Consumer Financial Services Lawyers with the prestigious Senator William Proxmire Lifetime Achievement Award.
Read More →Biweekly payment providers continue to react to the memo the NADA issued last week. This week, Economic Advantages Corp. offers its take on the alert.
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