Staff continues to pursue wholesale dealer inspections.
Dealers found to be in violation of regulations during inspections are being encouraged
to attend the traveling education class.
A wholesale dealer was fined for consigning vehicles to a retail dealer for sale
to the public through a public auction. The associated retail dealer was fined under
a consent agreement.
A retail dealer was fined for conducting sales at an unlicensed location and for
rebuilding without a rebuilders license.
Staff suggested that, if the commission pursues legislation for multi-year licensing
authority, a fee increase be enacted at that time.
Commissioners directed staff to initiate effort to change used dealer metal plate
usage language to mirror that of the new dealer.
Commissioners directed staff to review the floor plan / consignment agreement currently
being promoted by a dealership with the objective of clarifying the governing rule’s
language regarding consignments.
Commission received update on three bills:
SB 1588 to abolish the Commission will not be pursued.
SB 792 to regulate car crushers is active.
HB 3368, Vehicle Condition Disclosure Act, will not be pursued this year but may
be revisited in 2015.
First enforcement under amended Rule results in $1.9 Million Settlement
12/19/2013 - Time Warner Cable, Inc. has agreed to settle FTC charges that the company
violated the Risk-Based Pricing (RBP) Rule, which requires creditors (including car
dealers) to give notice to consumers who are provided less favorable credit terms
based on information in their credit reports.
According to the FTC, if the credit report contains negative information, Time Warner
Cable may require the consumer to pay a deposit or pre-pay the first month’s bill.
Consumers with more favorable credit histories are not required to pay a deposit
or the first month’s bill. The FTC’s complaint alleges that Time Warner Cable failed
to provide the required risk-based pricing notices to consumers.
The RBP Rule derives from the Fair Credit Reporting Act (FCRA)