[Federal Register Volume 61, Number 68 (Monday, April 8, 1996)] [Notices] [Page 15485] From the Federal Register Online via the Government Publishing Office [www.gpo.gov] [FR Doc No: 96-8660] ----------------------------------------------------------------------- FEDERAL TRADE COMMISSION [Dkt. C-3612] Jerry's Ford Sales, Inc., et al.; Prohibited Trade Practices, and Affirmative Corrective Actions
Agency
Federal Trade Commission.
Action
Consent order.
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Summary
In settlement of alleged violations of federal law prohibiting unfair acts and practices and unfair methods of competition, this consent order requires, among other things, three corporations in Virginia and their President and CEO, in any advertisement to promote any extensions of consumer credit, to cease and desist from misrepresenting the terms of financing the purchase of a vehicle, including whether there may be a balloon payment and the amount of any balloon payment. The consent order also requires the respondents, in any advertisement to promote any extension of consumer credit, to cease and desist from failing to state all terms required by Secs. 226.24(b) and 226.24(c) of Regulation Z. The consent order also requires the respondents, in any advertisement to aid, promote or assist any consumer lease, to cease and desist from failing to state all terms required by Sec. 213.5(c) of Regulation M.
Dates
Complaint and Order issues August 29, 1995.\1\
\1\ Copies of the Complaint and the Decision and Order are available from the Commission's Public Reference Branch, H-130, 6th Street & Pennsylvania Avenue NW., Washington, DC 20580. ---------------------------------------------------------------------------
For Further Information Contact
Carole Reynolds, FTC/S-4429, Washington, DC 20580. (202) 326-3230.
Supplementary Information
On Friday, June 9, 1995, there was published in the Federal Register, 60 FR 30546, a proposed consent agreement with analysis In the Matter of Jerry's Ford Sales, Inc., et al., for the purpose of soliciting public comment. Interested parties were given sixty (60) days in which to submit comments, suggestions or objections regarding the proposed form of the order. No comments having been received, the Commission has ordered the issuance of the complaint in the form contemplated by the agreement, made its jurisdictional findings and entered an order to cease and desist, as set forth in the proposed consent agreement, in disposition of this proceeding.
(Sec. 6, 38 Stat. 721; 15 U.S.C. 46. Interpret or apply sec. 5, 38 Stat. 719, as amended; 82 Stat. 146, 147; 15 U.S.C. 45, 1601, et seq.; 1667-1667e; 12 CFR 226) Donald S. Clark, Secretary. [FR Doc. 96-8660 Filed 4-5-96; 8:45 am] BILLING CODE 6750-01-M