A federal judge says auto dealers who use consumers' bad credit
histories to charge them more interest on car loans must tell buyers
they have negative information on their credit report, even if the loan
is farmed out to a bank or finance company.
That ruling came Thursday from U.S. District Judge Ellen Huvelle in a
battle between the National Automobile Dealers Association and the
Federal Trade Commission. The law says auto dealers who agree to extend
financing have to tell buyers that their bad credit history is being
used to charge them more interest.
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Like they don't know anyhow. After not paying previous obligations most people are smart enough to realize it's going to cost them in the future. Like anything else people try to get free, it's gonna get paid for.
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