[Federal Register Volume 62, Number 70 (Friday, April 11, 1997)]
[Notices]
[Page 17830]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-9367]


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

FEDERAL TRADE COMMISSION

[Dkt. C-3710]


General Motors Corporation; Prohibited Trade Practices, and 
Affirmative Corrective Actions

AGENCY: Federal Trade Commission.

ACTION: Consent order.

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

SUMMARY: In settlement of alleged violations of federal law prohibiting 
unfair or deceptive acts or practices and unfair methods of 
competition, this consent order prohibits, among other things, a 
Michigan-based automobile manufacturer from misrepresenting the total 
amount due at lease inception, requires the manufacturer to provide 
consumers with clear, readable, and understandable cost information in 
their car lease and financed purchase advertising, requires 
advertisements that reference an initial payment or state that no 
initial payment is due to clearly and conspicuously disclose, as 
applicable, that the deal is a lease, and to disclose the fact that an 
extra charge may be imposed at the end of the lease based on the 
residual value of the car. The consent order also prohibits the 
respondent from misrepresenting the existence or amount of any balloon 
payment or the annual percentage rate for advertised loans.

DATES: Complaint and Order issued February 6, 1997.\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, N.W., Washington, D.C. 20580.
---------------------------------------------------------------------------

FOR FURTHER INFORMATION CONTACT:
David Medine, FTC/S-4429, Washington, D.C. 20580. (202) 326-3224.

SUPPLEMENTARY INFORMATION: On Thursday, December 5, 1996, there was 
published in the Federal Register. 61 FR 64524, a proposed consent 
agreement with analysis In the Matter of General Motors Corporation, 
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 comment having been received, the Commission has ordered the 
issuance of the complaint in the form contemplated by the agreement, 
made its jurisdictional finding 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, 
Stat. 719, as amended; 82 Stat. 146, 147; 15 U.S.C. 45, 1601, et 
seq.; 15 U.S.C. 1667-1667e; 12 CFR 226)
Donald S. Clark,
Secretary.
[FR Doc. 97-9367 Filed 4-10-97; 8:45 am]
BILLING CODE 6750-01-M