The 100% Rule
Your process for total compliance and F&I sales should be designed to meet a common goal.
Your process for total compliance and F&I sales should be designed to meet a common goal.
The FTC took action against two dealer groups it targeted in 2012 for deceptive advertising. They were charged with violating the FTC's orders prohibiting them from deceptively advertising the cost of financing or leasing a car.
In addition to paying civil penalties and reimbursements to the state, the owners of the dealerships must work to resolve 45 consumer complaints. This is the second such settlement the dealers have reached with the state.
A coalition of consumer-protection groups asked the FTC to investigate CarMax for selling recalled vehicles. CarMax officials claim the chain is doing the best it can with a broken system.
Auto Dealer TV's Jennifer Nebrich reports on the NADA's memo regarding biweekly payment products, the FTC's settlements with Nissan and 10 dealers, and setbacks for Tesla in Missouri and with Toyota.
The FTC has approved final consent orders involving the deceptive advertising practices of 10 dealerships. The cases were part of Operation Steer Clear, a nationwide sweep focusing on misleading advertising.
As part of the settlement, the six dealerships must reform their advertising practices and pay fines of up to $15,000. A seventh dealer was served with a statutory notice of the attorney general’s intention to file a lawsuit.
By unanimous vote, the Federal Trade Commission approves final orders settling charges against two dealers for deceptive advertising.
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