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Truth About Cars

Dealers Behaving Badly: FTC Seeks to Crack Down on F&I

We would wager our combined annual salaries – a sum roughly equal to the value of a half dozen donuts from Krispy Kreme – that every single soul reading this website has a story or three about being blitzed with products in a dealer’s F&I office. Vehicle etching, useless warranties (sorry – this paper only covers mechanical fuel pumps), and p-packs up the wazoo are the bane of most shoppers’ existence when trying to buy a car.
ECONOMY
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CNET

Walmart Turned Blind Eye to Money Transfer Fraud, FTC Says

The Federal Trade Commission on Wednesday accused Walmart of allowing its money transfer services to be used for fraud, resulting in people losing hundreds of millions of dollars. The consumer protection agency wants Walmart to return money to consumers and for a court to impose civil penalties on the retail giant.
RETAIL
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RELATED PEOPLE

The FTC is Suing Walmart For ‘Turning a Blind Eye’ to Fraud Via Its Money Transfer Services

Click here to read the full article. The Federal Trade Commission (FTC) is suing Walmart for “turning a blind eye” to scammers who used the company’s money transfer system to steal from customers. In a complaint filed Tuesday in a U.S. district court in the Northern District of Illinois, the FTC said Walmart allowed its money transfer services to be used to defraud consumers out of “hundreds of millions of dollars” through telemarketing and other scams and has failed to enact policies to prevent these transfers. According to the FTC, Walmart knew that various telemarketing scams — which work by deceiving people...
PERSONAL FINANCE
gmauthority.com

FTC Seeking To Ban Junk Fees And Bait-And-Switch Tactics To Help Car Buyers

Trying to track down the actual price of a new vehicle can be confusing, as many automakers tack on destination freight charges and other associated dealer fees that can drive up the transaction amount. The Federal Trade Commission (FTC) is now looking to put a stop to the practice of implementing hidden fees in new vehicle transactions, this week proposing a rule change that would ban so-called “junk fees,” and other bait-and-switch style tactics.
ECONOMY
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fordauthority.com

Ford Dealers Would Face Even More Scrutiny Under Proposed FTC Rule

2022 is shaping up to be a banner year for Ford dealers. Currently, the automaker is hammering out details that will affect how all the stores within its dealer network will conduct business. Ford is splitting itself into two separate production development divisions – Model e – which will focus on EV efforts – and Ford Blue, which will continue ICE operations – and has asked individual dealers to choose which if they would like to represent one or both, a change that will likely take place by 2023. Ford dealers have gone through “stress tests” to see how they would handle a potential shift, but there are potentially some new stressors on the way, courtesy of the Federal Trade Commission.
ECONOMY
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FTC warns of cattle feed scams amid feed shortages and rising prices

Widespread drought, rising prices, and feed shortages in the Great Plains and West have created a fertile field for cattle feed scammers to take advantage of ranchers working to protect their livestock and their bottom line. In Montana, authorities are warning ranchers to treat with suspicion ads offering cattle feed at below-market prices. Ranchers report […]
MONTANA STATE
ktwb.com

FTC warns of yet another scam: Cattle feed fraud

SIOUX FALLS, S.D. (KELO.com) — Widespread drought, rising prices, and feed shortages in the Great Plains and West have created a fertile field for cattle feed scammers to take advantage of ranchers working to protect their livestock and their bottom line. In Montana, authorities are warning ranchers to treat...
SIOUX FALLS, SD