The FTC’s Proposed CARS Rule in 600 Words
In an exclusive to F&I and Showroom, attorney, former regulator and longtime Reynolds and Reynolds executive Terry O’Loughlin offers a history and summary of the Federal Trade Commission’s proposed new Combatting Auto Retail Scams Rule.
Referred to as the “Vehicle Shopping Rule” by the National Automobile Dealers Association and other groups that have challenged it, O’Loughlin warns the CARS Rule “could transform the car business.”
“It is not yet law, but dealers need to prepare because it could become effective early this year,” he writes. “There is much to study in the VSR, and this short article can provide only a summary of the central issues.”
