Learn why advertisements concerning consumer leases must also comply with certain disclosure requirements.
The Consumer Leasing Act was passed in 1976 in response to what was then a growing trend toward leasing automobiles for consumer use as an alternative to installment credit sales. The Act was meant to assure that meaningful and accurate disclosure of lease terms is provided to consumers before entering into a contract. The Act also imposes limitations on the size of penalties for delinquency or default and on the size of residual liabilities and requires certain disclosures in lease advertising. This video reviews the Consumer Leasing Act’s general disclosure requirements and discusses how to ensure compliance with the CLA’s advertising disclosure requirements.
Runtime: 30 minutes
More Program Information
