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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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On Dec. 29, the Federal Trade Commission announced plans to conduct a qualitative survey of consumers who have purchased and financed an automobile from a dealer within the last six months. If issues are revealed, the agency said it may consider enforcement initiatives or rulemaking.
Read More →The original lawsuit, filed last May, charged TrueCar with acting as a dealer and a broker when it does not have a dealer or broker license. The new amendment asks the court to declare that TrueCar continues to act as a 'dealer' and 'broker” without license.
Read More →The General Motors Board of Directors has unanimously elected Mary Barra as its next chairman, effective immediately. She succeeds Theodore Solso, who will serve as the board’s lead independent director.
Read More →The complaint was filed on Monday and alleges that nearly 600,000 diesel engine vehicles were equipped with illegal devices designed to cheat emissions testing.
Read More →F&I product provider GWC Warranty announced today that it has surpassed $375 million in claims paid to date.
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.
Read More →IHS Inc., the company that purchased CARFAX in 2013, has purchased CARPROOF Corp. for approximately $460 million. The Canadian company is a provider of vehicle history reports, vehicle appraisals and valuations.
Read More →KAR Auction Services has hired Toby Hahn as vice president of total rewards and promoted Brad Jokovich to vice president of human resources.
Read More →The AFIP’s executive director gives thanks to the regulators and the regulations they enforce. He explains why dealers should do the same.
Read More →The new law mirrors the model act developed by the Guaranteed Asset Protection Alliance and clarifies how the product may be offered in the state. But the law contains restrictions on when the protection can be sold.
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