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Administrative Procedure Act Automotive Loans

Ballard Spahr LLP

Sen. Sherrod Brown Joins Consumer Groups in Applying Pressure to Encourage CFPB to Seek Lifting of Stay of the Compliance Date for...

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On August 14, 2019, Senate Banking Committee Ranking Member Sherrod Brown (D-Ohio) wrote a letter imploring Consumer Financial Protection Bureau Director Kathy Kraninger to implement the payments provisions of the 2017 Payday...more

Ballard Spahr LLP

Consumer advocacy groups ask to participate as amicus to oppose motion for reconsideration of plaintiffs in industry lawsuit...

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The four consumer advocacy groups that filed an amicus brief opposing the joint motion filed by the CFPB and two trade groups seeking a stay of the compliance date for the CFPB’s final payday/auto title/high-rate installment...more

Ballard Spahr LLP

Senator Graham introduces CRA resolution to overturn CFPB payday loan rule; Mulvaney to testify on April 11 to House Financial...

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The American Banker has reported that last week, Senator Lindsey Graham introduced a joint resolution under the Congressional Review Act (CRA) to override the CFPB’s final payday/auto title/high-rate installment loan rule...more

Ballard Spahr LLP

GAO determination that leveraged lending guidance is subject to CRA could foreshadow similar fate for CFPB indirect auto finance...

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In May 2017, we blogged about press reports that the Government Accountability Office (GAO) had accepted a request from Senator Patrick Toomey for a determination concerning whether the CFPB Bulletin 2013-02, titled “Indirect...more

McGuireWoods LLP

Tuesday’s GOP Wins May Put the Brakes on the CFPB’s Controversial Oversight of Auto Lending

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The CFPB’s imposition of its auto lending guidelines, and use of its admittedly flawed proxy-methodology to determine discriminatory lending in auto finance, may come to an end under the GOP controlled White House and Senate....more

Ballard Spahr LLP

CFPB Solicits Information On Registration System For Nonbanks

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In a Request for Information (RFI) posted on the Federal Business Opportunity website last month, the Consumer Financial Protection Bureau (CFPB) solicited information from vendors so it can "better understand current,...more

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