On August 15, 2024, the Federal Trade Commission (“FTC”) and Arizona Attorney General announced a proposed settlement with an Arizona-based vehicle dealership to resolve allegations that the dealership misrepresented prices...more
8/21/2024
/ Anti-Discrimination Policies ,
Arizona ,
Borrowers ,
Car Dealerships ,
CARS Rule ,
Consent ,
Consumer Fraud ,
ECOA ,
Fair Lending ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
FTC Act ,
Motor Vehicles ,
Section 5 ,
UDAAP ,
Unfair or Deceptive Trade Practices
CarShield, a company that sells vehicle service contracts (VSCs), will pay $10 million to settle FTC allegations that its advertisements and telemarketing pitches deceived consumers, the agency announced on July 31....more
8/13/2024
/ Administrative Procedure Act ,
Advertising ,
Automotive Industry ,
CARS Rule ,
False Advertising ,
Federal Trade Commission (FTC) ,
FTC Act ,
Marketing ,
Motor Vehicles ,
Section 5 ,
Service Contracts ,
Telemarketing ,
Unfair or Deceptive Trade Practices
Vroom, the former used car sales website which halted vehicle sales in January 2024, has agreed to a proposed settlement with the FTC over allegations the company misrepresented that it had examined all vehicles before...more
7/17/2024
/ Automotive Industry ,
Car Dealerships ,
CARS Rule ,
Enforcement Actions ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
FTC Act ,
Motor Vehicles ,
Settlement ,
Statutory Violations ,
Unfair or Deceptive Trade Practices
On May 20, 2004, the Federal Trade Commission (“FTC”) sent its annual report to the Consumer Financial Protection Bureau (“CFPB”) highlighting its enforcement actions and initiatives in 2023 under the Truth in Lending Act...more
5/30/2024
/ Annual Reports ,
CARS Rule ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Leasing Act (CLA) ,
Consumer Lenders ,
Dodd-Frank ,
Electronic Fund Transfer Act ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
FTC Act ,
Late Fees ,
Proposed Amendments ,
Proposed Rules ,
Regulation Z ,
Truth in Lending Act (TILA) ,
Unfair or Deceptive Trade Practices
On May 14, 2024, the Federal Trade Commission’s (“FTC”) filed its brief in opposition to Petitioners’ Brief in the legal challenge to the Combating Auto Retail Scams Rule (“CARS Rule”). The petitioners are the National...more
5/22/2024
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Amicus Briefs ,
Automotive Industry ,
Automotive Loans ,
Car Dealerships ,
CARS Rule ,
Chevron v NRDC ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
FTC Act ,
Motor Vehicles ,
Scams ,
Unfair or Deceptive Trade Practices
On December 12, 2024, the Federal Trade Commission (“FTC”) announced its Combating Auto Retail Scams Rule, otherwise known as the “CARS Rule,” setting new requirements on the sale, financing, and leasing of vehicles by motor...more
12/21/2023
/ Add-ons ,
Automotive Industry ,
Automotive Loans ,
Car Dealerships ,
CARS Rule ,
Consent ,
Consumer Financial Contracts ,
Consumer Protection Act ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
Financing ,
FTC Act ,
Holder Rule ,
Motor Vehicles ,
New Rules ,
Offering Price ,
Regulatory Reform ,
Regulatory Requirements ,
Unfair or Deceptive Trade Practices
The Federal Trade Commission and Wisconsin Attorney General have entered into settlements with a group of auto dealerships, their current and former corporate owners, and their general manager for allegedly engaging in...more
11/1/2023
/ Add-ons ,
Attorney General ,
Automotive Industry ,
Car Dealerships ,
Consumer Financial Products ,
Discriminatory Lending Practices ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Services Industry ,
FTC Act ,
Motor Vehicles ,
Settlement ,
Unfair or Deceptive Trade Practices
The New Jersey Attorney General (NJAG) and the Federal Trade Commission (FTC) recently announced settlements in concurrent actions against Sollers College, a for-profit college, its parent company, Sollers, Inc., and, in the...more
10/30/2023
/ Consumer Financial Protection Bureau (CFPB) ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Services Industry ,
For Profit Colleges ,
FTC Act ,
Income Share Agreements ,
Job Offers ,
Misrepresentation ,
Settlement ,
Students
On May 31, 2023, the Federal Trade Commission (“FTC”) requested public comment on a petition for rulemaking it received from six national consumer advocate groups regarding “yo-yo sales,” a term the groups use to refer to...more
6/15/2023
/ Automotive Loans ,
Comment Period ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Federal Trade Commission (FTC) ,
Financial Contracts ,
Financial Services Industry ,
FTC Act ,
Public Comment ,
Regulatory Agenda ,
Regulatory Reform ,
Retail Installment Sales Contracts ,
Rulemaking Process ,
Section 5 ,
UDAP ,
Unfair or Deceptive Trade Practices
On March 23, 2023, the Federal Trade Commission (“FTC” or “Commission”) issued a Notice of Proposed Rule Making (“NPRM”) seeking comment on proposed amendments to the Commission’s Negative Option Rule. The proposed...more
On October 20, 2022, the Federal Trade Commission (FTC) announced that it is issuing an Advance Notice of Proposed Rulemaking (ANPR or Notice) to address “junk fees,” a term used in the Notice to refer to “unfair or deceptive...more
The Supreme Court heard arguments yesterday in Axon Enterprise v. Federal Trade Commission (No. 21-86), as to whether federal courts can hear a challenge to the FTC’s constitutionality by a party in an administrative...more
On November 3, 2022, the Federal Trade Commission (“FTC”) announced that it has entered into a consent order with internet phone service provider Vonage to settle allegations that it imposed “junk fees” on consumers and used...more
On July 29, the Federal Trade Commission (“FTC”) announced a settlement with First American Payment Systems LP, a Texas-based nationwide payment processor, and two of its sales agent affiliates, Think Point Financial LLC and...more