Posted on 07/01/12 by Dana Manner
The Federal Trade Commission recently released an FTC Consumer Alert entitled “Ads for Auto Loan Modifications: You May Be Able to Drive a Better Deal with Your Lender“ There have been several companies advertising on TV and the internet promising car loan modifications, like mortgage loan modifications, and the FTC has filed lawsuits against several [...]
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Posted on 05/25/12 by Dana Manner
Washington, D.C. – U.S. District Judge Ellen Huvelle ruled in her opinion that car dealers that charge high interest rates to buyers based upon negative credit information in their credit report, must give notice to the buyers under Fair and Accurate Credit Transactions Act of 2003 (FACTA). The practice of offering higher rate loans to [...]
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Posted on 03/14/12 by Dana Manner
The Federal Trade Commission issued a press release today that five car dealers from around the US have agreed to a settlement orders that require them to stop running ads where the car dealers promise to pay off a consumer’s trade-in vehicle, no matter what the consumer owes on the vehicle. The dealers named in the FTC’s complaints [...]
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Posted on 03/10/12 by Dana Manner
As part of the Federal Trade Commission’s ongoing project to gather information on consumers’ experiences in the sale, financing and leasing of motor vehicles at dealerships, the agency will continue to seek public comments until April 1, 2012. Interested parties can submit comments online by following the instructions on the web-based form. The FTC held [...]
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