FTC Presents Enforcement Report to CFPB

By Staff Writer June 02, 2024

The Combatting Auto Retail Scams rule and litigation against marketing firm Traffic Jam Events highlighted the Federal Trade Commission’s annual enforcement activities report presented to the Consumer Financial Protection Bureau last week.

The CARS rule (Combatting Auto Retail Scams) finalized by the FTC in 2023 will require automobile dealers to provide consumers with an offering price, disclose all optional add-ons, and give information about total payment when discussing the monthly payment. Dealers must also get the consumers’ “expressed, informed” consent for any charges as part of the CARS rule. The FTC rule scrutinizes add-ons, which are part of the vehicle purchase.

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Last modified on Thursday, 06 June 2024 11:05