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FTC | RIN: 3084-AB72 | Publication ID: Fall 2023 |
Title: Motor Vehicle Dealers Trade Regulation Rule | |
Abstract:
On July 13, 2022, the Commission issued a Notice of Proposed Rulemaking (NPRM) soliciting public comment on a proposed Rule regarding unfair or deceptive acts or practices under its authority with respect to motor vehicle dealers described in section 1029(d) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, Public Law No. 111-203. 87 FR 42012 (July 13, 2022). The proposed rule would prohibit motor vehicle dealers from making certain misrepresentations in the course of selling, leasing, or arranging financing for motor vehicles, require accurate pricing disclosures in dealers’ advertising and sales discussions, require dealers to obtain consumers’ express, informed consent for charges, prohibit the sale of any add-on product or service that confers no benefit to the consumer, and require dealers to keep records of advertisements and customer transactions. The public comment period closed on September 12, 2022. The staff is reviewing the public comments. |
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Agency: Federal Trade Commission(FTC) | Priority: Section 3(f)(1) Significant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Proposed Rule Stage |
Major: Yes | Unfunded Mandates: No |
CFR Citation: to be codified at 16 CFR 463 (To search for a specific CFR, visit the Code of Federal Regulations.) | |
Legal Authority: 15 U.S.C. 5519(d) |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: Undetermined | Government Levels Affected: None |
Small Entities Affected: Businesses | Federalism: Undetermined |
Included in the Regulatory Plan: No | |
International Impacts: This regulatory action will be likely to have international trade and investment effects, or otherwise be of international interest. | |
RIN Data Printed in the FR: No | |
Agency Contact: Daniel Dwyer Attorney Federal Trade Commission 600 Pennsylvania Avenue NW, Bureau of Consumer Protection, Division of Financial Practices, Washington, DC 20580 Phone:202 326-2957 Email: ddwyer@ftc.gov |