FTC’s Auto Dealer Rule Promises Sweeping Industry Changes
| 12 min
On December 12, the FTC issued the Combating Auto Retail Scams Rule (“CARS Rule”) which will broadly regulate sales activities of motor vehicle dealers. Authorized by Congress through the Dodd-Frank Act and promulgated under the Administrative Procedure Act (as opposed to the FTC’s more cumbersome Magnusson-Moss authority), the final rule will take effect on July 30, 2024.