The Federal Trade Commission is poised to take action reining in predatory auto lending. PIRG will be a part of a large, detailed coalition comment that outlines specifics for how the agency can protect consumers from unscrupulous car dealerships looking to make customers pay more for their cars and for their loans.
But the agency doesn’t just want to hear from experts and advocates – they want to hear from anyone who has been pressured, swindled or misled at the dealership. If you have a story, share it with the FTC here. You can learn more about the proposed rule here.
The FTC has special authority to write rules regulating the auto finance industry on a faster timeline than most FTC rulemaking processes. PIRG is excited to see the agency finally act on this authority 12 years after receiving it.