Lease ad rules eased

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The Federal Reserve, which regulates leasing contracts, on Wednesday unveiled a revision of its car-leasing rules that will make it easier to advertise lease deals on TV. The new rules allow car companies and dealers to remove most of the extensive disclosure language from TV spots if they either include an 800 number where consumers can get the disclosure information or refer in the TV spot to a print ad running at the same time. But the rules also toughen some of the regulations about price advertising, requiring the mention of any additional fees to be in the same size type as down payments or monthly charges. The Federal Trade Commission, which enforces the Federal Reserve leasing rules (excluding banks), is expected to announce false advertising actions against several major automakers and dealers shortly.

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