Cowboy AG LLC; Analysis To Aid Public Comment, 57982-57984 [2017-26443]

Download as PDF 57982 Federal Register / Vol. 82, No. 235 / Friday, December 8, 2017 / Notices Moana Blvd., Room 5124, Honolulu, Hawaii 96850; and United States Environmental Protection Agency, Region 9, Drinking Water Management Section, 75 Hawthorne Street (WTR–3– 1), San Francisco, California 94105. Documents relating to this determination are also available online at http://health.hawaii.gov/sdwb/publicnotices/ for inspection. Authority: Section 1413 of the Safe Drinking Water Act, as amended, 42 U.S.C. 300g–2 (1996), and 40 CFR part 142 of the National Primary Drinking Water Regulations. FOR FURTHER INFORMATION CONTACT: BILLING CODE 6560–50–P Anna Yen, EPA Region 9, Drinking Water Management Section, at the address given above; telephone number: (415) 972–3976; email address: yen.anna@epa.gov. FARM CREDIT SYSTEM INSURANCE CORPORATION sradovich on DSK3GMQ082PROD with NOTICES SUPPLEMENTARY INFORMATION: Background. EPA approved the State of Hawaii’s original application for PWSSP primary enforcement authority which, following the public notice period, became effective on October 20, 1977 (42 FR 47244, no request for public hearing received). EPA subsequently approved and finalized revisions to the State of Hawaii’s PWSSP on the following dates: May 6, 1993 (58 FR 17892); July 19, 1993 (58 FR 33442); September 29, 1993 (58 FR 45491); March 13, 1995 (60 FR 7962); May 23, 1996 (61 FR 17892); and July 31, 2015 (80 FR 45656). Public Process. Any interested party may request a public hearing on this determination. A request for a public hearing must be submitted by January 8, 2018, to the Regional Administrator at the EPA Region 9 address shown above. The Regional Administrator may deny frivolous or insubstantial requests for a hearing. If a substantial request for a public hearing is made by January 8, 2018, EPA Region 9 will hold a public hearing. Any request for a public hearing shall include the following information: 1. The name, address, and telephone number of the individual, organization, or other entity requesting a hearing; 2. A brief statement of the requesting person’s interest in the Regional Administrator’s determination and a brief statement of the information that the requesting person intends to submit at such hearing; and 3. The signature of the individual making the request, or, if the request is made on behalf of an organization or other entity, the signature of a responsible official of the organization or other entity. If EPA Region 9 does not receive a timely and appropriate request for a hearing and the Regional Administrator does not elect to hold a hearing on his own motion, this determination shall become final and effective on January 8, 2018, and no further public notice will be issued. VerDate Sep<11>2014 20:38 Dec 07, 2017 Jkt 244001 Dated: November 15, 2017. Alexis Strauss, Acting Regional Administrator, EPA, Region 9. [FR Doc. 2017–26535 Filed 12–7–17; 8:45 am] Regular Meeting; Farm Credit System Insurance Corporation Board Farm Credit System Insurance Corporation. ACTION: Notice, regular meeting. AGENCY: Notice is hereby given of the regular meeting of the Farm Credit System Insurance Corporation Board (Board). DATES: The meeting of the Board will be held at the offices of the Farm Credit Administration in McLean, Virginia, on December 14, 2017, from 11:00 a.m. until such time as the Board concludes its business. FOR FURTHER INFORMATION CONTACT: Dale L. Aultman, Secretary to the Farm Credit System Insurance Corporation Board, (703) 883–4009, TTY (703) 883– 4056, aultmand@fca.gov. ADDRESSES: Farm Credit System Insurance Corporation, 1501 Farm Credit Drive, McLean, Virginia 22102. Submit attendance requests via email to VisitorRequest@FCA.gov. See SUPPLEMENTARY INFORMATION for further information about attendance requests. SUPPLEMENTARY INFORMATION: Parts of this meeting of the Board will be open to the public (limited space available), and parts will be closed to the public. Please send an email to VisitorRequest@ FCA.gov at least 24 hours before the meeting. In your email include: name, postal address, entity you are representing (if applicable), and telephone number. You will receive an email confirmation from us. Please be prepared to show a photo identification when you arrive. If you need assistance for accessibility reasons, or if you have any questions, contact Dale L. Aultman, Secretary to the Farm Credit System Insurance Corporation Board, at (703) 883–4009. The matters to be considered at the meeting are: SUMMARY: Open Session A. Approval of Minutes • September 21, 2017 PO 00000 Frm 00036 Fmt 4703 Sfmt 4703 B. Business Reports • September 30, 2017 Financial Reports • Report on Insured and Other Obligations • Quarterly Report on Annual Performance Plan Closed Session • Confidential Report on System Performance • Audit Plan for the Year Ended December 31, 2017 Executive Session • Executive Session of the Audit Committee with Auditor Dated: December 5, 2017. Dale L. Aultman, Secretary, Farm Credit System Insurance Corporation Board. [FR Doc. 2017–26474 Filed 12–7–17; 8:45 am] BILLING CODE 6710–01–P FEDERAL TRADE COMMISSION [File No. 172 3009] Cowboy AG LLC; Analysis To Aid Public Comment Federal Trade Commission. Proposed Consent Agreement. AGENCY: ACTION: The consent agreement in this matter settles alleged violations of federal law prohibiting unfair or deceptive acts or practices. The attached Analysis to Aid Public Comment describes both the allegations in the complaint and the terms of the consent order—embodied in the consent agreement—that would settle these allegations. SUMMARY: Comments must be received on or before January 2, 2018. ADDRESSES: Interested parties may file a comment online or on paper, by following the instructions in the Request for Comment part of the SUPPLEMENTARY INFORMATION section below. Write: ‘‘In the Matter of Cowboy AG LLC doing business as Cowboy Toyota and Cowboy Scion, File No. 172 3009’’ on your comment, and file your comment online at https:// ftcpublic.commentworks.com/ftc/ cowboyconsent by following the instructions on the web-based form. If you prefer to file your comment on paper, write ‘‘In the Matter of Cowboy AG LLC doing business as Cowboy Toyota and Cowboy Scion, File No. 172 3009’’ on your comment and on the envelope, and mail your comment to the following address: Federal Trade Commission, Office of the Secretary, DATES: E:\FR\FM\08DEN1.SGM 08DEN1 sradovich on DSK3GMQ082PROD with NOTICES Federal Register / Vol. 82, No. 235 / Friday, December 8, 2017 / Notices 600 Pennsylvania Avenue NW., Suite CC–5610 (Annex D), Washington, DC 20580, or deliver your comment to the following address: Federal Trade Commission, Office of the Secretary, Constitution Center, 400 7th Street SW., 5th Floor, Suite 5610 (Annex D), Washington, DC 20024. FOR FURTHER INFORMATION CONTACT: James R. Golder, Attorney, (214–979– 9376), Southwest Region, 1999 Bryan Street, Suite 2150, Dallas, TX 75201. SUPPLEMENTARY INFORMATION: Pursuant to Section 6(f) of the Federal Trade Commission Act, 15 U.S.C. 46(f), and FTC Rule 2.34, 16 CFR 2.34, notice is hereby given that the above-captioned consent agreement containing a consent order to cease and desist, having been filed with and accepted, subject to final approval, by the Commission, has been placed on the public record for a period of thirty (30) days. The following Analysis to Aid Public Comment describes the terms of the consent agreement, and the allegations in the complaint. An electronic copy of the full text of the consent agreement package can be obtained from the FTC Home Page (for December 1, 2018), on the World Wide Web, at https:// www.ftc.gov/news-events/commissionactions. You can file a comment online or on paper. For the Commission to consider your comment, we must receive it on or before January 2, 2018. Write ‘‘In the Matter of Cowboy AG LLC doing business as Cowboy Toyota and Cowboy Scion, File No. 172 3009’’ on your comment. Your comment—including your name and your state—will be placed on the public record of this proceeding, including, to the extent practicable, on the public Commission Web site, at https://www.ftc.gov/policy/ public-comments. Postal mail addressed to the Commission is subject to delay due to heightened security screening. As a result, we encourage you to submit your comments online. To make sure that the Commission considers your online comment, you must file it at https:// ftcpublic.commentworks.com/ftc/ cowboyconsent by following the instructions on the web-based form. If this Notice appears at http:// www.regulations.gov/#!home, you also may file a comment through that Web site. If you prefer to file your comment on paper, write ‘‘In the Matter of Cowboy AG LLC doing business as Cowboy Toyota and Cowboy Scion, File No. 172 3009’’ on your comment and on the envelope, and mail your comment to the following address: Federal Trade VerDate Sep<11>2014 20:38 Dec 07, 2017 Jkt 244001 Commission, Office of the Secretary, 600 Pennsylvania Avenue NW., Suite CC–5610 (Annex D), Washington, DC 20580, or deliver your comment to the following address: Federal Trade Commission, Office of the Secretary, Constitution Center, 400 7th Street, SW., 5th Floor, Suite 5610 (Annex D), Washington, DC 20024. If possible, submit your paper comment to the Commission by courier or overnight service. Because your comment will be placed on the publicly accessible FTC Web site at https://www.ftc.gov, you are solely responsible for making sure that your comment does not include any sensitive or confidential information. In particular, your comment should not include any sensitive personal information, such as your or anyone else’s Social Security number; date of birth; driver’s license number or other state identification number, or foreign country equivalent; passport number; financial account number; or credit or debit card number. You are also solely responsible for making sure that your comment does not include any sensitive health information, such as medical records or other individually identifiable health information. In addition, your comment should not include any ‘‘trade secret or any commercial or financial information which . . . is privileged or confidential’’—as provided by Section 6(f) of the FTC Act, 15 U.S.C. 46(f), and FTC Rule 4.10(a)(2), 16 CFR 4.10(a)(2)— including in particular competitively sensitive information such as costs, sales statistics, inventories, formulas, patterns, devices, manufacturing processes, or customer names. Comments containing material for which confidential treatment is requested must be filed in paper form, must be clearly labeled ‘‘Confidential,’’ and must comply with FTC Rule 4.9(c). In particular, the written request for confidential treatment that accompanies the comment must include the factual and legal basis for the request, and must identify the specific portions of the comment to be withheld from the public record. See FTC Rule 4.9(c). Your comment will be kept confidential only if the General Counsel grants your request in accordance with the law and the public interest. Once your comment has been posted on the public FTC Web site—as legally required by FTC Rule 4.9(b)—we cannot redact or remove your comment from the FTC Web site, unless you submit a confidentiality request that meets the requirements for such treatment under FTC Rule 4.9(c), and the General Counsel grants that request. PO 00000 Frm 00037 Fmt 4703 Sfmt 4703 57983 Visit the FTC Web site at http:// www.ftc.gov to read this Notice and the news release describing it. The FTC Act and other laws that the Commission administers permit the collection of public comments to consider and use in this proceeding, as appropriate. The Commission will consider all timely and responsive public comments that it receives on or before January 2, 2018. For information on the Commission’s privacy policy, including routine uses permitted by the Privacy Act, see https://www.ftc.gov/site-information/ privacy-policy. Analysis of Proposed Consent Order To Aid Public Comment The Federal Trade Commission (FTC) has accepted, subject to final approval, an agreement containing a consent order from Cowboy AG LLC, doing business as Cowboy Toyota and Cowboy Scion. The proposed consent order has been placed on the public record for 30 days for receipt of comments by interested persons. Comments received during this period will become part of the public record. After 30 days, the FTC will again review the agreement and the comments received, and will decide whether it should withdraw from the agreement and take appropriate action or make final the agreement’s proposed order. The respondent is a motor vehicle dealer that engaged in substantial Spanish-language advertising, but only provided disclosures in fine-print English. According to the FTC complaint, respondent advertised that consumers could purchase or lease advertised vehicles at certain favorable terms prominently stated in its advertisements. The complaint alleges that respondent violated Section 5(a) of the Federal Trade Commission Act, 15 U.S.C. 45(a), because it misrepresented in its Spanish-language advertisements that (1) consumers could purchase new 2016 automobiles with no down payments, (2) that advertised low monthly payments were available to those who financed automobile purchases, (3) that advertised interest rates, monthly payments, and other terms were available to consumers with bad credit, and (4) that certain new 2016 model year Toyotas were available for purchase in 2017. This information would be material to consumers in deciding whether to visit respondent’s dealership and whether to purchase or lease an automobile from respondent. The complaint also alleges that respondent’s credit sale advertisements violated the Truth in Lending Act (TILA) and Regulation Z by failing to disclose or to disclose clearly and conspicuously required terms. E:\FR\FM\08DEN1.SGM 08DEN1 sradovich on DSK3GMQ082PROD with NOTICES 57984 Federal Register / Vol. 82, No. 235 / Friday, December 8, 2017 / Notices Specifically, respondent’s advertisements prominently stated the amount of the finance charge and the number of payments or period of repayment for certain vehicles—all triggering terms under the TILA—but failed to disclose, or unclearly and inconspicuously disclosed at the bottom of the ad in much smaller type, the required information set forth by the TILA. Finally, the complaint alleges that respondent’s leasing advertisements violated the Consumer Leasing Act (CLA) and Regulation M by failing to disclose or to disclose clearly and conspicuously required terms. Specifically, respondent’s advertisements prominently stated the monthly payment amounts for certain vehicles—a triggering term under the CLA—but failed to disclose, or unclearly and inconspicuously disclosed at the bottom of the ad in much smaller type, the required information set forth by the CLA. The proposed order is designed to prevent the respondent from engaging in similar deceptive practices in the future. • Definition B. of the order defines ‘‘clearly and conspicuously’’ to mean that required disclosures must be difficult to miss (i.e., easily noticeable) and easily understandable by ordinary consumers, including that disclosures must appear in the same language as the representation requiring the disclosure is made (e.g. Spanish advertisement → Spanish disclosure). • Part I.A.1. provides that respondent shall not misrepresent the cost of financing the purchase of an automobile, including by misrepresenting the amount or percentage of the down payment, the number of payments or period of repayment, the amount of any payment, and the repayment obligation over the full term of the loan, including any balloon payment. • Part I.A.2. provides that respondent shall not misrepresent the cost of leasing an automobile, including by misrepresenting the total amount due at lease inception, the down payment, amount down, acquisition fee, capitalized cost reduction, any other amount required to be paid at lease inception, and the amounts of all monthly or other periodic payments. • Part I.B. provides that respondent shall not misrepresent any qualification or restriction on the consumer’s ability to obtain the represented financing or leasing terms, including any qualification or restriction based on the consumer’s credit score or credit history. • Part I.C. provides that respondent shall not represent any financing or VerDate Sep<11>2014 20:38 Dec 07, 2017 Jkt 244001 leasing term, unless the representation is non-misleading, and the advertisement clearly and conspicuously discloses all qualifications or restrictions on the consumer’s ability to obtain the represented financing or leasing term, including any qualifications or restrictions that respondent’s lender, lessor, or any other entity may impose based on a consumer’s credit score or credit history. Additionally, if a majority of consumers likely will not be able to meet a credit score qualification or restriction stated in the advertisement, respondent must clearly and conspicuously disclose that fact. • Part I.D. provides that respondent shall not misrepresent the number of vehicles, makes, or models that are available for purchase or lease. • Part I.E. provides that respondent shall not misrepresent any other material fact about the price, sale, financing, or leasing of any automobile. • Part II of the order addresses the TILA and Regulation Z allegations by prohibiting credit sale advertisements that: A. State the amount or percentage of any down payment, the number of payments or period of repayment, the amount of any payment, or the amount of any finance charge, without disclosing clearly and conspicuously all of the following terms: Æ The amount or percentage of the down payment; Æ The terms of repayment; and Æ The annual percentage rate, using the term ‘‘annual percentage rate’’ or the abbreviation ‘‘APR.’’ If the annual percentage rate may be increased after consummation of the credit transaction, that fact must also be disclosed; or B. State a rate of finance charge without stating the rate as an ‘‘annual percentage rate’’ or the abbreviation ‘‘APR,’’ using that term; or C. Fail to comply in any respect with Regulation Z, 12 CFR part 226, as amended, and the Truth in Lending Act, as amended, 15 U.S.C. 1601–1667f. • Part III of the order addresses the CLA and Regulation M allegations by prohibiting lease advertisements that: A. State the amount of any payment or that any or no initial payment is required at lease inception, without disclosing clearly and conspicuously the following terms: Æ That the transaction advertised is a lease; Æ the total amount due prior to or at consummation or by delivery, if delivery occurs after consummation; Æ the number, amounts, and timing of scheduled payments; PO 00000 Frm 00038 Fmt 4703 Sfmt 4703 Æ whether or not a security deposit is required; and Æ that an extra charge may be imposed at the end of the lease term where the consumer’s liability (if any) is based on the difference between the residual value of the leased property and its realized value at the end of the lease term. B. Fail to comply in any respect with Regulation M, 12 CFR part 213, as amended, and the Consumer Leasing Act, 15 U.S.C. 1667–1667f, as amended. • Part IV requires respondent to provide copies of the order to certain personnel and to obtain acknowledgments of receipt. • Part V requires respondent to file compliance reports with the Commission, including notices regarding changes in corporate structure that might affect compliance obligations under the order. Part VI requires respondent to create certain records for 15 years and to retain them for 5 years. Part VII provides the Commission certain mechanisms to monitor respondent’s compliance with the order. Part VIII is a provision that ‘‘sunsets’’ the order after 20 years, with certain exceptions. The purpose of this analysis is to aid public comment on the proposed order. It is not intended to constitute an official interpretation of the complaint or proposed order, or to modify in any way the proposed order’s terms. By direction of the Commission. Donald S. Clark, Secretary. [FR Doc. 2017–26443 Filed 12–7–17; 8:45 am] BILLING CODE P DEPARTMENT OF HEALTH AND HUMAN SERVICES Centers for Medicare & Medicaid Services [Document Identifiers: CMS–718–721 and CMS–10307] Agency Information Collection Activities: Submission for OMB Review; Comment Request Centers for Medicare & Medicaid Services. ACTION: Notice. AGENCY: The Centers for Medicare & Medicaid Services (CMS) is announcing an opportunity for the public to comment on CMS’ intention to collect information from the public. Under the Paperwork Reduction Act of 1995 (PRA), federal agencies are required to publish notice in the Federal Register SUMMARY: E:\FR\FM\08DEN1.SGM 08DEN1

Agencies

[Federal Register Volume 82, Number 235 (Friday, December 8, 2017)]
[Notices]
[Pages 57982-57984]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-26443]


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FEDERAL TRADE COMMISSION

[File No. 172 3009]


Cowboy AG LLC; Analysis To Aid Public Comment

AGENCY: Federal Trade Commission.

ACTION: Proposed Consent Agreement.

-----------------------------------------------------------------------

SUMMARY: The consent agreement in this matter settles alleged 
violations of federal law prohibiting unfair or deceptive acts or 
practices. The attached Analysis to Aid Public Comment describes both 
the allegations in the complaint and the terms of the consent order--
embodied in the consent agreement--that would settle these allegations.

DATES: Comments must be received on or before January 2, 2018.

ADDRESSES: Interested parties may file a comment online or on paper, by 
following the instructions in the Request for Comment part of the 
SUPPLEMENTARY INFORMATION section below. Write: ``In the Matter of 
Cowboy AG LLC doing business as Cowboy Toyota and Cowboy Scion, File 
No. 172 3009'' on your comment, and file your comment online at https://ftcpublic.commentworks.com/ftc/cowboyconsent by following the 
instructions on the web-based form. If you prefer to file your comment 
on paper, write ``In the Matter of Cowboy AG LLC doing business as 
Cowboy Toyota and Cowboy Scion, File No. 172 3009'' on your comment and 
on the envelope, and mail your comment to the following address: 
Federal Trade Commission, Office of the Secretary,

[[Page 57983]]

600 Pennsylvania Avenue NW., Suite CC-5610 (Annex D), Washington, DC 
20580, or deliver your comment to the following address: Federal Trade 
Commission, Office of the Secretary, Constitution Center, 400 7th 
Street SW., 5th Floor, Suite 5610 (Annex D), Washington, DC 20024.

FOR FURTHER INFORMATION CONTACT: James R. Golder, Attorney, (214-979-
9376), Southwest Region, 1999 Bryan Street, Suite 2150, Dallas, TX 
75201.

SUPPLEMENTARY INFORMATION: Pursuant to Section 6(f) of the Federal 
Trade Commission Act, 15 U.S.C. 46(f), and FTC Rule 2.34, 16 CFR 2.34, 
notice is hereby given that the above-captioned consent agreement 
containing a consent order to cease and desist, having been filed with 
and accepted, subject to final approval, by the Commission, has been 
placed on the public record for a period of thirty (30) days. The 
following Analysis to Aid Public Comment describes the terms of the 
consent agreement, and the allegations in the complaint. An electronic 
copy of the full text of the consent agreement package can be obtained 
from the FTC Home Page (for December 1, 2018), on the World Wide Web, 
at https://www.ftc.gov/news-events/commission-actions.
    You can file a comment online or on paper. For the Commission to 
consider your comment, we must receive it on or before January 2, 2018. 
Write ``In the Matter of Cowboy AG LLC doing business as Cowboy Toyota 
and Cowboy Scion, File No. 172 3009'' on your comment. Your comment--
including your name and your state--will be placed on the public record 
of this proceeding, including, to the extent practicable, on the public 
Commission Web site, at https://www.ftc.gov/policy/public-comments.
    Postal mail addressed to the Commission is subject to delay due to 
heightened security screening. As a result, we encourage you to submit 
your comments online. To make sure that the Commission considers your 
online comment, you must file it at https://ftcpublic.commentworks.com/ftc/cowboyconsent by following the instructions on the web-based form. 
If this Notice appears at http://www.regulations.gov/#!home, you also 
may file a comment through that Web site.
    If you prefer to file your comment on paper, write ``In the Matter 
of Cowboy AG LLC doing business as Cowboy Toyota and Cowboy Scion, File 
No. 172 3009'' on your comment and on the envelope, and mail your 
comment to the following address: Federal Trade Commission, Office of 
the Secretary, 600 Pennsylvania Avenue NW., Suite CC-5610 (Annex D), 
Washington, DC 20580, or deliver your comment to the following address: 
Federal Trade Commission, Office of the Secretary, Constitution Center, 
400 7th Street, SW., 5th Floor, Suite 5610 (Annex D), Washington, DC 
20024. If possible, submit your paper comment to the Commission by 
courier or overnight service.
    Because your comment will be placed on the publicly accessible FTC 
Web site at https://www.ftc.gov, you are solely responsible for making 
sure that your comment does not include any sensitive or confidential 
information. In particular, your comment should not include any 
sensitive personal information, such as your or anyone else's Social 
Security number; date of birth; driver's license number or other state 
identification number, or foreign country equivalent; passport number; 
financial account number; or credit or debit card number. You are also 
solely responsible for making sure that your comment does not include 
any sensitive health information, such as medical records or other 
individually identifiable health information. In addition, your comment 
should not include any ``trade secret or any commercial or financial 
information which . . . is privileged or confidential''--as provided by 
Section 6(f) of the FTC Act, 15 U.S.C. 46(f), and FTC Rule 4.10(a)(2), 
16 CFR 4.10(a)(2)--including in particular competitively sensitive 
information such as costs, sales statistics, inventories, formulas, 
patterns, devices, manufacturing processes, or customer names.
    Comments containing material for which confidential treatment is 
requested must be filed in paper form, must be clearly labeled 
``Confidential,'' and must comply with FTC Rule 4.9(c). In particular, 
the written request for confidential treatment that accompanies the 
comment must include the factual and legal basis for the request, and 
must identify the specific portions of the comment to be withheld from 
the public record. See FTC Rule 4.9(c). Your comment will be kept 
confidential only if the General Counsel grants your request in 
accordance with the law and the public interest. Once your comment has 
been posted on the public FTC Web site--as legally required by FTC Rule 
4.9(b)--we cannot redact or remove your comment from the FTC Web site, 
unless you submit a confidentiality request that meets the requirements 
for such treatment under FTC Rule 4.9(c), and the General Counsel 
grants that request.
    Visit the FTC Web site at http://www.ftc.gov to read this Notice 
and the news release describing it. The FTC Act and other laws that the 
Commission administers permit the collection of public comments to 
consider and use in this proceeding, as appropriate. The Commission 
will consider all timely and responsive public comments that it 
receives on or before January 2, 2018. For information on the 
Commission's privacy policy, including routine uses permitted by the 
Privacy Act, see https://www.ftc.gov/site-information/privacy-policy.

Analysis of Proposed Consent Order To Aid Public Comment

    The Federal Trade Commission (FTC) has accepted, subject to final 
approval, an agreement containing a consent order from Cowboy AG LLC, 
doing business as Cowboy Toyota and Cowboy Scion. The proposed consent 
order has been placed on the public record for 30 days for receipt of 
comments by interested persons. Comments received during this period 
will become part of the public record. After 30 days, the FTC will 
again review the agreement and the comments received, and will decide 
whether it should withdraw from the agreement and take appropriate 
action or make final the agreement's proposed order.
    The respondent is a motor vehicle dealer that engaged in 
substantial Spanish-language advertising, but only provided disclosures 
in fine-print English. According to the FTC complaint, respondent 
advertised that consumers could purchase or lease advertised vehicles 
at certain favorable terms prominently stated in its advertisements. 
The complaint alleges that respondent violated Section 5(a) of the 
Federal Trade Commission Act, 15 U.S.C. 45(a), because it 
misrepresented in its Spanish-language advertisements that (1) 
consumers could purchase new 2016 automobiles with no down payments, 
(2) that advertised low monthly payments were available to those who 
financed automobile purchases, (3) that advertised interest rates, 
monthly payments, and other terms were available to consumers with bad 
credit, and (4) that certain new 2016 model year Toyotas were available 
for purchase in 2017. This information would be material to consumers 
in deciding whether to visit respondent's dealership and whether to 
purchase or lease an automobile from respondent.
    The complaint also alleges that respondent's credit sale 
advertisements violated the Truth in Lending Act (TILA) and Regulation 
Z by failing to disclose or to disclose clearly and conspicuously 
required terms.

[[Page 57984]]

Specifically, respondent's advertisements prominently stated the amount 
of the finance charge and the number of payments or period of repayment 
for certain vehicles--all triggering terms under the TILA--but failed 
to disclose, or unclearly and inconspicuously disclosed at the bottom 
of the ad in much smaller type, the required information set forth by 
the TILA. Finally, the complaint alleges that respondent's leasing 
advertisements violated the Consumer Leasing Act (CLA) and Regulation M 
by failing to disclose or to disclose clearly and conspicuously 
required terms. Specifically, respondent's advertisements prominently 
stated the monthly payment amounts for certain vehicles--a triggering 
term under the CLA--but failed to disclose, or unclearly and 
inconspicuously disclosed at the bottom of the ad in much smaller type, 
the required information set forth by the CLA.
    The proposed order is designed to prevent the respondent from 
engaging in similar deceptive practices in the future.
     Definition B. of the order defines ``clearly and 
conspicuously'' to mean that required disclosures must be difficult to 
miss (i.e., easily noticeable) and easily understandable by ordinary 
consumers, including that disclosures must appear in the same language 
as the representation requiring the disclosure is made (e.g. Spanish 
advertisement [rarr] Spanish disclosure).
     Part I.A.1. provides that respondent shall not 
misrepresent the cost of financing the purchase of an automobile, 
including by misrepresenting the amount or percentage of the down 
payment, the number of payments or period of repayment, the amount of 
any payment, and the repayment obligation over the full term of the 
loan, including any balloon payment.
     Part I.A.2. provides that respondent shall not 
misrepresent the cost of leasing an automobile, including by 
misrepresenting the total amount due at lease inception, the down 
payment, amount down, acquisition fee, capitalized cost reduction, any 
other amount required to be paid at lease inception, and the amounts of 
all monthly or other periodic payments.
     Part I.B. provides that respondent shall not misrepresent 
any qualification or restriction on the consumer's ability to obtain 
the represented financing or leasing terms, including any qualification 
or restriction based on the consumer's credit score or credit history.
     Part I.C. provides that respondent shall not represent any 
financing or leasing term, unless the representation is non-misleading, 
and the advertisement clearly and conspicuously discloses all 
qualifications or restrictions on the consumer's ability to obtain the 
represented financing or leasing term, including any qualifications or 
restrictions that respondent's lender, lessor, or any other entity may 
impose based on a consumer's credit score or credit history. 
Additionally, if a majority of consumers likely will not be able to 
meet a credit score qualification or restriction stated in the 
advertisement, respondent must clearly and conspicuously disclose that 
fact.
     Part I.D. provides that respondent shall not misrepresent 
the number of vehicles, makes, or models that are available for 
purchase or lease.
     Part I.E. provides that respondent shall not misrepresent 
any other material fact about the price, sale, financing, or leasing of 
any automobile.
     Part II of the order addresses the TILA and Regulation Z 
allegations by prohibiting credit sale advertisements that:
    A. State the amount or percentage of any down payment, the number 
of payments or period of repayment, the amount of any payment, or the 
amount of any finance charge, without disclosing clearly and 
conspicuously all of the following terms:
    [cir] The amount or percentage of the down payment;
    [cir] The terms of repayment; and
    [cir] The annual percentage rate, using the term ``annual 
percentage rate'' or the abbreviation ``APR.'' If the annual percentage 
rate may be increased after consummation of the credit transaction, 
that fact must also be disclosed; or
    B. State a rate of finance charge without stating the rate as an 
``annual percentage rate'' or the abbreviation ``APR,'' using that 
term; or
    C. Fail to comply in any respect with Regulation Z, 12 CFR part 
226, as amended, and the Truth in Lending Act, as amended, 15 U.S.C. 
1601-1667f.
     Part III of the order addresses the CLA and Regulation M 
allegations by prohibiting lease advertisements that:
    A. State the amount of any payment or that any or no initial 
payment is required at lease inception, without disclosing clearly and 
conspicuously the following terms:
    [cir] That the transaction advertised is a lease;
    [cir] the total amount due prior to or at consummation or by 
delivery, if delivery occurs after consummation;
    [cir] the number, amounts, and timing of scheduled payments;
    [cir] whether or not a security deposit is required; and
    [cir] that an extra charge may be imposed at the end of the lease 
term where the consumer's liability (if any) is based on the difference 
between the residual value of the leased property and its realized 
value at the end of the lease term.
    B. Fail to comply in any respect with Regulation M, 12 CFR part 
213, as amended, and the Consumer Leasing Act, 15 U.S.C. 1667-1667f, as 
amended.
     Part IV requires respondent to provide copies of the order 
to certain personnel and to obtain acknowledgments of receipt.
     Part V requires respondent to file compliance reports with 
the Commission, including notices regarding changes in corporate 
structure that might affect compliance obligations under the order. 
Part VI requires respondent to create certain records for 15 years and 
to retain them for 5 years. Part VII provides the Commission certain 
mechanisms to monitor respondent's compliance with the order. Part VIII 
is a provision that ``sunsets'' the order after 20 years, with certain 
exceptions.
    The purpose of this analysis is to aid public comment on the 
proposed order. It is not intended to constitute an official 
interpretation of the complaint or proposed order, or to modify in any 
way the proposed order's terms.

    By direction of the Commission.
Donald S. Clark,
Secretary.
[FR Doc. 2017-26443 Filed 12-7-17; 8:45 am]
 BILLING CODE P