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Market
How many companies will the FTC take action against for warranty practices by the end of 2024?
3
Resolution / Starting Odds
1-2 companies • 25%
3-4 companies • 25%
5-6 companies • 25%
7-8 companies • 25%
FTC official announcements or press releases
Story
FTC Takes Action Against Vroom with $1 Million Settlement, Warns Companies on Warranty Practices
Jul 3, 2024, 06:13 PM
The Federal Trade Commission (FTC) has taken action against online used car dealer Vroom for deceiving customers, failing to deliver on time, and not providing required disclosures. Vroom has agreed to a $1 million settlement for consumer redress as of July 2. In a related move, the FTC has warned companies to stop warranty practices that harm consumers' right to repair, specifically targeting the use of 'warranty void if removed' stickers and tying warranties to the use of branded parts. The FTC has sent letters to eight companies regarding these practices as of July 3.
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Similar markets
5-7 • 33%
8-10 • 33%
More than 10 • 33%
0-5 • 25%
6-10 • 25%
11-20 • 25%
More than 20 • 25%
Less than 10% • 25%
10% to 20% • 25%
20% to 30% • 25%
More than 30% • 25%
Yes • 50%
No • 50%
Amazon • 25%
YouTube • 25%
Facebook • 25%
None • 25%
All companies fined • 25%
Some companies fined • 25%
No companies fined • 25%
Other outcome • 25%
Yes • 50%
No • 50%
Yes • 50%
No • 50%
