Car Dealers Target FTC Over Credit Score Reporting Rule

Law360, New York (September 22, 2011, 8:05 PM EDT) -- The National Automobile Dealers Association on Thursday sued the Federal Trade Commission in Washington federal court, claiming the commission's rules implementing credit score disclosure requirements went beyond Congress' intent in the Fair Credit Reporting Act.

The rules require that dealers who engage in three-party financing transactions — like car dealers, who often work with both the purchaser and a bank providing credit in a sale — provide consumers with risk-based pricing notices and their credit scores, even if the dealers did not use a consumer report...
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