Brittany-Marie Swanson
Associate Editor
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Almost a month after launching a campaign critical of rate markups, Space Coast Credit Union has pulled all ads and associated videos. The campaign had compared rate markups to a restaurant charging customers more for food based on arbitrary physical features.
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Attorney Vince Megna celebrated the $126,836 settlement he reached with Tesla on behalf of a Wisconsin man by posting a humorous video to his YouTube channel. It was the first lemon law case brought against the electric-vehicle maker.
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The percentage of older vehicles on the road has reached its highest level since 2009, and the average age of vehicles on the road is expected to keep rising.
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A coalition of consumer-protection groups asked the FTC to investigate CarMax for selling recalled vehicles. CarMax officials claim the chain is doing the best it can with a broken system.
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During the CFPB’s semi-annual report to the House Financial Services Committee, Director Richard Cordray said the agency will be releasing a white paper on the methodology it uses to determine the presence of discrimination in auto loans.
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This week, New York Governor Cuomo signed a pro-Tesla bill into law. The New Jersey Assembly also voted to allow manufacturers to directly sell zero-emissions vehicles to consumers.
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Seven financial organizations issued a letter to the U.S. House of Representatives on May 29 in support of an amendment to an appropriations bill that would limit Justice Department litigation relying on the disparate impact theory of discrimination.
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Sales at Fla.-based Rick Case Automotive Group were up 28% from last year, with Memorial Day weekend sales surpassing all previous weekend sales records.
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Dealership avoidance is becoming the new normal for car buyers, according to a new study. It showed that one in six shoppers skipped the test drive and nearly half visited one or no dealers prior to making a purchase.
Read More →A memo released by the NADA this week states that the CFPB’s proposed method for eliminating fair lending risk in the auto lending arena would do no such thing. Instead, dealers would still have discretion when it comes to selecting a finance source for their customers.
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