Stories
Slash Boxes
Comments

SoylentNews is people

posted by on Friday February 24 2017, @06:17PM   Printer-friendly
from the you-just-can't-replace-Harry-Dean-Stanton dept.

The US Federal Trade Commission is investigating an auto lender that often requires subprime borrowers to have so-called GPS starter-interrupter devices enabled on purchased vehicles. The so-called kill switches, which can monitor a vehicle's constant whereabouts, also have the remote ability to shut a car off and to prevent a car from starting. This makes it easy for lenders to repossess the car for missed payments. But this modern-day version of the repo-man raises both safety and privacy concerns.

The Credit Acceptance Corp. of Michigan said in a Securities and Exchange Commission filing this month that it received a civil investigative demand from the FTC "seeking information on the Company's policies, practices and procedures in allowing car dealers to use GPS Starter Interrupters on consumer vehicles. We are cooperating with the inquiry and cannot predict the eventual scope, duration or outcome at this time. As a result, we are unable to estimate the reasonably possible loss or range of reasonably possible loss arising from this investigation."

The lender did not immediately respond for comment. There are more than two million of these devices affixed to vehicles on US roads. They are often hidden, and they are required for car buyers with not-so-rosy credit scores as a condition of acquiring a car loan.

The FTC isn't commenting on the probe, which may include other lenders. The investigation likely centers on whether buyers are given adequate notice that the vehicles they are purchasing can track their every move and whether this is an acceptable business practice.

Source: ArsTechnica


Original Submission

 
This discussion has been archived. No new comments can be posted.
Display Options Threshold/Breakthrough Mark All as Read Mark All as Unread
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
  • (Score: 2) by takyon on Friday February 24 2017, @07:51PM

    by takyon (881) <reversethis-{gro ... s} {ta} {noykat}> on Friday February 24 2017, @07:51PM (#471291) Journal

    Your comment is rated 52% toxic. Since the majority opinion of the AI overmind is that your comment represents the threat of abuse and harassment online, YOU WILL NOW BE SLAUGHTERED BY GOOGLE DRONE SECURITY. DIE DIE DIE.

    --
    [SIG] 10/28/2017: Soylent Upgrade v14 [soylentnews.org]
    Starting Score:    1  point
    Karma-Bonus Modifier   +1  

    Total Score:   2  
  • (Score: 2) by tangomargarine on Friday February 24 2017, @08:34PM

    by tangomargarine (667) on Friday February 24 2017, @08:34PM (#471305)

    "You are now dead. Please take your receipt."

    --
    "Is that really true?" "I just spent the last hour telling you to think for yourself! Didn't you hear anything I said?"
  • (Score: 1) by Scruffy Beard 2 on Friday February 24 2017, @08:38PM

    by Scruffy Beard 2 (6030) on Friday February 24 2017, @08:38PM (#471308)

    Parent is 64% toxic. Sucks to be him.

    Pseudoedit: Maybe I should post as AC: that was rated 89% toxic.