Does it ever feel like once a year, compliance rears back up to take over the headlines, only to die down again? Well compliance is back and it is making waves.
At the end of 2023, the Federal Trade Commission (FTC) announced the Combating Auto Retail Scams (CARS) Rule, targeting unwanted products, services and so-called ‘junk fees’ added on to a car purchase.
The CARS Rule specifically provides protection for military and active-duty service members who, according to the FTC, are frequently targets for vehicle scams. The FTC states that service members have an average of twice as much auto debt as civilians.