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(Transportation-News.com, May 18, 2012 ) The Federal Trade Commission (FTC) recently reviewed the ''Holder In Due Course'' rule. The rule is designed to protect consumers who make a purchase through a merchant using a line of credit then discover the item purchased was defective. The rule had been challenged in the courts, leading to the review.
Under this rule a borrower who buys an item, say a car, and discovers that they have been sold a defective product has the ability to apply to a lender to stop making payments. This allows the consumer to make a claim against the seller without having to continue making payments on a product that they may not even be able to use.
The FTC points out that this rule should encourage lending institutions to be more careful when selecting businesses that they partner with for lines of credit, thus improving consumer protection against fraud.
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Keystone Auto Loans
PR Dept
9102086761
contact@keystoneautoloans.com
Source: EmailWire.Com 
Source: EmailWire.com
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