Movement highlights challenging auto dealer market
Published by: Sean Brown
September 21, 2022 | Regulatory
As your credit union seeks to put people over profit and help members thrive, other industries may impact the ability for people and communities to meet kitchen table realities, like purchasing an affordable and safe vehicle. To further highlight the ongoing challenges Ohio credit unions voiced when assisting members purchasing a vehicle, the League commented on a recent Federal Trade Commission (FTC) proposed rule related to potentially harmful, predatory, or misrepresentative actions of motor vehicle dealers. Restricted financing options and strained market dynamics disrupt the ability for credit unions to help members make the best financial choice. People need transparent and clear finance options to make empowered choices regarding their finances and well-being, and the League used examples provided by Ohio credit unions to encourage the FTC to prioritize the importance of consumer affordability and financial optionality in the motor vehicle dealer financing process.
Read the comment letter and connect with League Regulatory Affairs Director Sean Brown for any questions or concerns regarding this FTC proposal.
Contact Sean Brown for questions or assistance.
