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FTC Paper Looks at Service Members Buying Cars

FTC Paper Looks at Service Members Buying Cars Featured

A new paper by the Federal Trade Commission’s Bureau of Consumer Protection examines financial issues that can affect military consumers, including service members, veterans, and their families, when they are purchasing and financing a car, dealing with debt collectors, or making credit decisions, as well as their legal rights and remedies, and strategies to promote financial literacy and capability.The FTC Staff Perspective summarizes key takeaways from a workshop the agency held in July 2017 on military consumer financial protection, which brought together military consumer advocates, consumer groups, government representatives (local, state, and federal), military legal services and legal clinics, and industry representatives.The staff perspective notes that panelists at the workshop discussed how service members face a number of challenges in auto transactions – particularly when buying or leasing a vehicle for the first time. It also describes the unique issues that service members face if they fall behind on their financing payments and have to deal with debt collectors.
Last modified on Tuesday, 06 February 2018 18:00