Colo. Auto Brokerage Violated EFTA, Consumers Say

By Dean Seal (September 14, 2018, 4:29 PM EDT) -- Two Colorado residents hit a Colorado Springs auto brokerage with a putative class action on Thursday accusing the car dealer of violating the Electronic Fund Transfer Act by only extending credit if a car buyer agreed to enroll in an automatic payment plan.

Mickey Thrasher and Kimberly Cyr filed their suit in Colorado federal court against Rocky Mountain Auto Brokers Inc., saying their 2017 vehicle purchases were made on credit and that the dealer required them to execute an electronic fund transfer authorization for their monthly car payments, violating the EFTA.

"The EFTA provides: 'No person may … condition the extension...

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