On June 21, 2023, the American Financial Services Association (“AFSA”) asked the House Appropriations Committee to include language in the Financial Services and General Government appropriations bill that would prevent the Federal Trade Commission (“FTC”) from finalizing or implementing the Motor Vehicle Dealers Trade Regulation Rule (the “Proposed Rule”).

In a letter to Representative Steve Womack, the Chairman of the Subcommittee on Financial Services and General Government, AFSA criticized the Proposed Rule as a limitation on consumers’ ability to purchase voluntary protection products, such as service contracts, guaranteed asset protection (“GAP”) coverage, tire and wheel protection, and other products that protect vehicles. … Continue Reading