How the FTC’s Proposal Would Toughen Auto Finance Rules

By David Monteiro, Nicholas Gess and Eamonn Moran (July 7, 2022, 5:41 p.m. EDT) — On June 23, by a vote of 4 to 1, the Federal Trade Commission issued a Notice of Proposed Rulemaking that is squarely aimed at changing how auto dealerships interact with customers in the auto finance process – with an incidental but important impact on finance companies, both those affiliated with OEMs and others.

The proposed rule follows multiple FTC enforcement actions and consent orders over the past two years, particularly the Bronx Honda, Tate Auto, and Napleton enforcement cases, which predicted nearly every provision of the rule. proposed.

If the regulations pass as proposed, the potential effects on…

Stay one step ahead

In the legal profession, information is the key to success. You need to know what’s going on with customers, competitors, practice areas and industries. Law360 provides the intelligence you need to stay an expert and beat the competition.

  • Access to case data in articles (numbers, filings, courts, nature of lawsuits, etc.)
  • Access to attached documents such as briefs, motions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and more!

TRY LAW360 FREE FOR SEVEN DAYS

About Yvonne Lozier

Check Also

Maximize ROI of Blockchain Technology

As blockchain technology continues to become mainstream, it is poised to impact every aspect of …