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Federal Board Charges Auto Makers in Deceptive 6 Percent Plans
The Federal Trade Commission charged numerous auto manufacturers and financing firms with false and misleading representations about 6 percent financing on deferred payment plans. Twenty-one respondents including Nash, Reo, Packard, General Motors, Chrysler, Ford, and financing outfits face complaints alleging a 12 percent equivalent rate despite a 6 percent label. Respondents have 20 days to answer.
MENTIONED IN THIS ARTICLE
Washington
INS
Federal Trade Commission
General Motors Corp
Chrysler Group
Nash Motors Company
Kenosha
Wis
General Motors Corporation
Detroit
Chrysler Corporation
Graham-Paige Motors Corporation
Hudson Motor Car Company
Ford Motor Company
Dearborn
Mich
Reo Motor Car Company
Lansing
Packard Motor Car Company
General Motors Acceptance Corporation
New York City
Commercial Credit Company
Baltimore
Universal Credit Corporation
Commercial Investment