The Federal Trade Commission announced a new rule Tuesday intended to stop auto dealers from using hidden fees and bait-and-switch price tactics on buyers.
The agency says such fees and tactics cost people in the US $3.4 billion a year and add 72 million hours to their time spent shopping for vehicles.
The FTC calls the new regulation the Combating Auto Retail Scams Rule.
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The agency says the rule bans misrepresentations about price, cost and other key information.…