November 6, 2017 - Industry News
The Southern California-based dealer group was charged with violating a 2014 administrative order prohibiting it from misrepresenting in advertisements how much consumers could pay to finance or lease a vehicle.
Tags: compliance, Consumer Leasing Act, Federal Trade Commission, Norm Reeves, Truth in Lending Act
December 1, 2016 - Industry News
The two agencies announced before Thanksgiving that the dollar thresholds in the TILA’s Reg Z. and the CLA’s Reg. M for exempt consumer credit transaction will remain at $54,600 for 2017.
Tags: compliance, Consumer Leasing Act, leasing, new-vehicle financing, Regulation M, Regulation Z, Truth in Lending Act
December 29, 2015 - Industry News
The FRB and CFPB announced on Nov. 25 that 2016 dollar thresholds for Reg. Z and M exemptions will remain unchanged from 2015. The AFIP says the accepted practice for processing transactions above the threshold will also remain unchanged.
Tags: AFIP, Association of Finance and Insurance Professionals, CFPB, Consumer Leasing Act, Federal Reserve, Regulation M, Regulation Z, Truth in Lending Act
September 28, 2015 - Industry News
A woman who says she was duped into purchasing “void and worthless” GAP coverage has filed a class action suit against the finance source on behalf of Illinois customers who have signed similar contracts.
Tags: Disclosures, F&I products, GAP, Lawsuit, Santander Consumer USA, Truth in Lending Act
February 17, 2015 - Industry News
The FTC unanimously approved a final order settling its deceptive advertising complaint against Dallas-based Trophy Nissan, which was charged on Dec. 23 with violating the FTC Act, the Consumer Leasing Act and the Truth in Lending Act.
Tags: Consumer Leasing Act, Deceptive Advertising, Federal Trade Commission, Regulation M, Regulation Z, Trophy Nissan, Truth in Lending Act
December 12, 2014 - Industry News
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.
Tags: Deceptive Advertising, Department of Justice, Federal Trade Commission, Truth in Lending Act
May 7, 2014 - Industry News
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.
Tags: Deceptive Advertising, Deceptive Practices, Federal Trade Commission, Truth in Lending Act
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