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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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A CFPB official disclosed in a June 15 blog post that the administrator of the Ally settlement fund has begun contacting and mailing checks to borrowers who were affected by Ally’s alleged discriminatory auto lending policies.
Read More →The New Jersey Division of Consumer Affairs has reached a $135,000 settlement with Bergen Auto Enterprises, which does business as Wayne Mazda and Wayne Auto Mall Hyundai. The dealerships were accused of engaging in deceptive business and advertising practices.
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Attorney General Eric Schneiderman, which announced on Wednesday a $14 million settlement with three Paragon dealerships, says he intends to file suit against 11 additional dealerships for the unlawful sale of credit repair and identity theft-prevention products.
Read More →The Consumer Financial Protection Bureau has sued auto loan company Security National Automotive Acceptance Company for aggressive and misleading debt collection tactics against military service members.
Read More →Eyewitness Surveillance announced the launch of a beta program for three products designed specifically for dealerships.
Read More →The CFPB finalized last week its proposal to oversee nonbank auto finance companies. The finalized rule, which left out recommendations submitted by an auto finance trade group, will take effect 60 days after publication in the Federal Register.
Read More →An Arkansas auto dealer and its owners have agreed to pay a $90,000 civil penalty to settle Federal Trade Commission charges that they failed to display a “Buyers Guide” on used vehicles offered for sale.
Read More →The CFPB finalized today its proposal to oversee nonbank auto finance companies. The finalized rule will take effect 60 days after publication in the Federal Register.
Read More →Federal prosecutors have accused the general manager of Serra Nissan of directing dealership employees to falsify sales reports to receive incentive payments from the manufacturer. Earlier in the week, the dealership’s controller was arrested for fraud.
Read More →After three months with no response, Attorney General Eric T. Schneiderman has filed a motion to force a New York dealer group to comply with a subpoena issued by the AG’s office in March. The dealer group is accused of “jamming” credit repair contracts into vehicle sales and leases.
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