In Very First FTC Circumstances Against Automobile Title Lenders

In Very First FTC Circumstances Against Automobile Title Lenders

Organizations did not reveal skills for “Zero Percent” Loan Offers

The Federal Trade Commission has had action for the time that is first two vehicle name loan providers, reaching settlements which will need them to avoid their utilization of misleading marketing to promote title loans.

An automobile name loan is normally a high expense, short-term loan, guaranteed using the consumer’s automobile title. The FTC charged that the companies advertised, both online and in print, zero percent interest rates for a 30-day car title loan without disclosing important loan conditions or the increased finance charge imposed after the introductory period ended in administrative complaints issued against two title lenders, First American Title Lending of Georgia, LLC, and Finance Select, Inc. Continue reading “In Very First FTC Circumstances Against Automobile Title Lenders”