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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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Earlier this month, Evergreen Bank Group issued a statement about its decision to move to a flat fee pricing model. The move was in response to a low FDIC rating and alleged violations of the ECOA.
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Rep. Jeb Hensarling, on behalf of the House Financial Services Committee, released a video Monday calling on the CFPB to make its advisory council meetings open to the public.
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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 →Jeffrey Langer will be stepping into Richard Hackett’s former role as assistant director of installment and liquidity lending markets for the bureau.
Read More →The New Jersey Motor Vehicle Commission voted unanimously to ban the direct sale of vehicles to consumers, effectively shutting down Tesla’s showrooms in the state.
Read More →A Virginia woman is suing a dealership there for allegedly forcing her to buy a car. She is seeking $400,000 in damages, the Virginia-Pilot reports.
Read More →Three Republican lawmakers are requesting information from the CFPB regarding employee performance reviews after reports surfaced last week about possible racial disparities related to its internal management practices.
Read More →The magazine’s resident legal wiz revisits the FTC’s standard for deception in response to the agency’s crackdown on false advertising.
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Strong words at NADA 2014 and the Vehicle Finance Conference indicate that both sides of the rate participation debate are preparing for a long, drawn-out battle.
Read More →The New Mexico’s attorney general is facing three separate lawsuits from state associations and individual dealers over a rule that requires inspections and damage disclosures for used vehicles.
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