Briefs

Some Detroit carmakers are offering sales incentives in the face of stiffer competition from Toyota and Honda, which have rebuilt U.S. sales after inventory shortages following last year’s tsunami in Japan. To clear out end-of-model-year vehicles, General Motors is offering no-haggle, discounted pricing on 2012 Chevrolet cars and trucks, plus a money-back guarantee on all new Chevys. The promotions run at participating dealers through Sept. 4. Chrysler, the automaker controlled by Fiat, is letting buyers put off monthly payments for the first 90 days in a national promotion that applies to all of its vehicles. The offer runs through the end of July.

U.S. mortgage lenders must give prospective borrowers simplified disclosure forms to explain costs and risks, according to new rules proposed by the Consumer Financial Protection Bureau. The rules, open for public comment, also change how the annual percentage rate is calculated to include some costs now excluded, such as charges for title searches and appraisals. The CFPB proposed as well that lenders should not be able to require balloon payments or charge prepayment penalties on loans with high rates and fees.