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UNITED STATES v FORD MOTOR CREDIT COMPANY Click to find out why . . .



Keywords & Phrases
CaseNo: USVFMCC214447, CourtCode: FED, CourtName: FEDERAL TRADE COMMISSION, Plaintiff: UNITED STATES, State: MI Michigan, UniqueCaseRef: LCD>USVFMCC214447, Ford Credit, Consent Decree, Regulation, Credit, Act, Consumer, Ecoa, Commission, United States, Violations, Applicants, Federal Trade, Payment, Complaint, Relief, Parties, Successors, Federal Trade Commission, Financing, Contracts, Incomes, Employees, Consumer Redress, Eastern District, Michigan, Ftc Act, Purchases, Automobile Dealers, Ford Motor, Credit Company, Hereby, Officers, Agents, Servants, Directives, Administration, Financial Practices, Washington, Bureau, Consumer Protection , ContentID: 120248068

Case Documents
1   CONSENT DECREE
[ see first page and extracted highlights below  ] ItemID: 119819
9 pages
PDF
2   COMPLAINT
[ see first page and extracted highlights below  ] ItemID: 119818
6 pages
PDF
Total Documents: 2 documents , 15 pages
Price: $ 24.95


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1 . CONSENT DECREE

EXTRACTED KEY WORDS
FORD CREDIT
COMMISSION
FEDERAL TRADE
CONSUMER
REGULATION
PAYMENT
PARTIES
SUCCESSORS
COURT
ACT
EMPLOYEES
CONSUMER REDRESS
UNITED STATES
COMPLAINT
FORD MOTOR
CREDIT COMPANY
ATTORNEYS
HEREBY
OFFICERS
AGENTS
SERVANTS
DIRECTIVES
ADMINISTRATION
FINANCIAL PRACTICES
WASHINGTON
BUREAU
CONSUMER PROTECTION
APPLICANT
PLAN
                    UNITED STATES DISTRICT COURT
                FOR THE EASTERN DISTRICT OF MICHIGAN


                                   )
UNITED STATES OF AMERICA,          )
                Plaintiff,         )
                                   )         Civil Action No.
                                       )
          v.                       )
                                    )
FORD MOTOR CREDIT COMPANY,             )
            a corporation,          ))
                 Defendant.        )
                                   )

                           CONSENT DECREE

     WHEREAS:  Plaintiff, the United States of America, has

commenced this action by filing the Complaint herein; Ford Motor

Credit Company ("Ford Credit") has waived service of the Summons

and Complaint; the parties have been represented by the attorneys

whose names appear hereafter; and the parties have agreed to

settlement of this action upon the following terms and

conditions, without any hearing or adjudication on the merits of

any issue of fact or law and without Ford Credit admitting

liability for any of the matters alleged in the Complaint;

     THEREFORE, on the joint motion of both parties, it is hereby

ORDERED, ADJUDGED, and DECREED as follows:

     1.  This Court has jurisdiction of the subject matter and of

the parties.


                   Consent Decree -- Page 1 of 9



SNIPPETS:
  • UNITED STATES DISTRICT COURT
  • Plaintiff, the United States of America, has
  • commenced this action by filing the Complaint herein; Ford Motor
  • Credit Company ("Ford Credit") has waived service of the Summons
  • the parties have been represented by the attorneys
  • THEREFORE, on the joint motion of both parties, it is hereby
  • Consent Decree -- Page 1 of 9
  • 9, 13, and 16of the Federal Trade Commission Act ("FTC
  • Reserve Board Regulation B, 12 C.F.R. Part 202,
  • Ford Credit, and its successors and assigns, and its
  • officers, agents, servants, and employees, directly or through
  • this Consent Decree ("Consumer Redress Plan").
  • payment shall be deposited into a suspense account established by
  • redress and attendant costs of administration does not constitute
  • from discriminating against an applicant on the basis of marital
  • and serve such affidavit on the Federal Trade
  • Financial Practices, Bureau of Consumer Protection, Federal Trade
  • Commission, 600 Pennsylvania Avenue, N.W., Washington, D.C.
  • or directives as may be necessary or appropriate for the

  • 2 . COMPLAINT

    EXTRACTED KEY WORDS
    ECOA
    REGULATION
    VIOLATIONS
    APPLICANTS
    FORD CREDIT
    ACT
    DEFENDANT
    RELIEF
    COURT
    PLAINTIFF
    FEDERAL TRADE COMMISSION
    FINANCING
    CONTRACTS
    INCOMES
    UNITED STATES
    EASTERN DISTRICT
    MICHIGAN
    FTC ACT
    PURCHASES
    AUTOMOBILE DEALERS
    CONSUMER
    UNMARRIED JOINT
    AGGREGATING
    COMPLAINT
    INJUNCTION
    APPROVAL SYSTEM
    SALES CONTRACTS
    AFFECTING
    COMMERCE
    
                         UNITED STATES DISTRICT COURT
                     FOR THE EASTERN DISTRICT OF MICHIGAN
    
    
                                           )
    UNITED STATES OF AMERICA,              )
                        Plaintiff,         ) COMPLAINT FOR INJUNCTIVE
         v.                                ) AND OTHER RELIEF
                                           )
    FORD MOTOR CREDIT COMPANY,            ) Civil Action No.
         a corporation,                        )
                                               )
                        Defendant.         )
                                           )
    
    
         Plaintiff, the United States of America, acting upon
    
    notification and authorization to the Attorney General by the
    
    Federal Trade Commission ("Commission"), for its complaint
    
    alleges that:
    
         1.    Plaintiff brings this action under Sections 5(a)(1),
    
    5(m)(1)(A), 9, 13(b), and 16(a) of the Federal Trade Commission
    
    Act ("FTC Act"), 15 U.S.C. §§ 45(a)(1), 45(m)(1)(A), 49, 53(b),
    
    and  56(a), as amended, and under the Equal Credit Opportunity
    
    Act ("ECOA"), 15 U.S.C. §§ 1691-1691(f), as amended, to obtain
    
    monetary relief and injunctive and other relief for defendant's
    
    violations of the ECOA and Federal Reserve Board Regulation B
    
    ("Regulation B"), 12 C.F.R. § 202, as amended.
    
                            JURISDICTION AND VENUE
    
         2.  This court has jurisdiction over this matter under
    
    28 U.S.C. §§ 1331, 1337(a), 1345, and 1355, under 15 U.S.C.
    
    
                                      1
    
    
    SNIPPETS:
  • UNITED STATES DISTRICT COURT
  • FOR THE EASTERN DISTRICT OF MICHIGAN
  • Plaintiff, the United States of America, acting upon
  • Federal Trade Commission, for its complaint
  • Plaintiff brings this action under Sections 5,
  • Act, 15 U.S.C. §§ 45, 45, 49, 53,
  • and 56, as amended, and under the Equal Credit Opportunity
  • monetary relief and injunctive and other relief for defendant's
  • violations of the ECOA and Federal Reserve Board Regulation B
  • As used in this Complaint:
  • Defendant Ford Motor Credit Company is a
  • Ford Credit provides
  • sales contracts from, automobile dealers nationwide.
  • a course of trade in or affecting commerce,
  • defined in Section 4 of the FTC Act, 15 U.S.C. § 44, by providing
  • wholesale vehicle financing to, and purchasing retail installment
  • Ford Credit purchases automobile finance contracts from
  • new credit approval system that treated the incomes of joint
  • applicants differently based upon their marital status.
  • practice of not aggregating the incomes of all similarly situated
  • joint applicants resulted in Ford Credit treating unmarried joint
  • VIOLATIONS OF THE ECOA AND REGULATION B
  • INJUNCTION AND MONETARY RELIEF
  • Bureau of Consumer Protection Federal Trade Commission
  •    |