Democratic Senator Edward Markey wants the FTC to take a more active role in policing auto dealer sales practices.  Because Dodd-Frank bars the CFPB from directly regulating auto dealers, the CFPB has targeted the fair lending practices of banks and non-banks purchasing auto finance consumer contracts from auto dealers.  In a letter sent to the FTC on October 23, Senator Markey called on the FTC to investigate whether auto dealers are using “potentially unfair or deceptive financing practices to sell cars to consumers and then take all appropriate action to address these practices to protect consumers.” … Continue Reading