Although dealers won an exemption last year from tougher federal oversight of consumer financing, they still should be wary of an agency given somewhat more authority over dealer-assisted loans, dealership advocates said.
As part of a sweeping regulatory overhaul, the U.S. Federal Trade Commission got streamlined rule-writing authority, making it easier for the agency to set standards.
Last month the FTC began collecting dealership-finance information in a roundtable with dealer advocates, consumer activists and state regulators.
Consumer activists called for a flat fee to replace interest-rate markups on car loans. Others sought beefed-up FTC enforcement of government prohibitions against dealer abuses.