2017 Compliance Guide Insights: Unfair and Deceptive Acts and Practices Laws
Unfair and Deceptive Acts and Practices laws are designed to protect consumers from unfair and deceptive trade practices in the marketplace, including false or misleading advertising.
While these laws and regulations cover merchants of goods and services generally, not just auto dealers, it’s important to know auto dealer liability risks for UDAP practices under the FTC Act, the Dodd Frank Act, and state UDAP laws. As these laws are a “catch all” for bad conduct, they present a substantial risk for a variety of misdeeds in selling vehicles to, or financing vehicles for, consumers. Check out the following best practices tips, and then log onto the 2017 Compliance Guide for more vital information about UDAPs: