The Consumer Finance Protection Bureau continues to spread its wings in the enforcement arena. It is an agency born and confined in political controversy. ...more
To say I am excited would be putting it mildly. Yes that most premier of compliance related conferences is on the short horizon; Compliance Week 2013 is nearly upon us. It will be from May 20-22 at the Mayflower Hotel in...more
The Consumer Financial Protection Bureau (CFBP) has taken another step in its attempts to ensure “fair” pricing in indirect motor vehicle financing transactions. This latest development highlights the CFPB’s focus on the...more
IN THE ISSUE: - The Legal Challenge to the SEC’s Conflict Minerals Reporting Regulations: In the 2010 Dodd-Frank Act, the United States Congress required, inter alia, the SEC to promulgate regulations requiring...more
On April 23, 2013, H.R. 1663 “Promoting Automotive Repair, Trade, and Sales Act of 2013’’ or the ‘‘PARTS Act’’, was referred to the House Judiciary Committee. Similar bill H.R. 3889 died in committee last year. The proposed...more
In 2003, Congress passed the Servicemembers Civil Relief Act (SCRA or “Act”), which updated and replaced the Soldiers’ and Sailors’ Civil Relief Act. The SCRA has been described as the “greatest single statutory source of...more
On April 24, 2013, Acting U.S. Trade Representative (“USTR”) Demetrios Marantis formally notified Congress that the United States plans to include Japan in Trans-Pacific Partnership (“TTP”) negotiations. Coming just three...more
President Obama has nominated Anthony Foxx, the Mayor of Charlotte to replace Ray LaHood as Secretary of Transportation. Mayor Foxx oversaw several large transportation projects during his tenure as mayor, including the...more
At least 3 million automobiles, including those manufactured by Honda, Nissan, Toyota and General Motors are being recalled due to faulty air bags which may pose a threat to safety. The airbags are manufactured by Takata...more
Tire tread separation has caused at least 375 deaths between 2002 and 2009, but no one seems to be talking much about the problem, especially in the auto industry. The tire separation issue has primarily affected older Ford...more
Toyota issued another recall that will affect a number of drivers in New York as well as other states. This recall involves the Tacoma pickup, a vehicle known for plowing through the snow and carrying a heavy load on its bed....more
By December 2012, with the approval of the Environmental Protection Agency (“EPA”), California was on the fast track to begin mandating the sale of zero-emission vehicles (“ZEVs”). Promulgated regulations require over 1.4...more
Coinciding with a previous blog. In addition to the Chrysler Fire Probe NHTSA has ordered that a recall of the Jeep Liberty now cover 35,000 SUVs produced between July 2003 and June 2007. The recall is due to excessive...more
The Consumer Financial Protection Bureau issued a guidance bulletin announcing that it will treat indirect auto lenders as creditors subject to the Equal Credit Opportunity Act (ECOA). The March 21 bulletin follows the CFPB's...more
The number of Ford Motor Company dealers who can sell electric vehicles will more than quadruple this spring. The company will so have 900 certified dealers, up from the 200 it had near the end of last year. The dealers will...more
Regulators have expanded their probe examining whether millions of Chrysler-made sport-utility vehicles have a high-risk catching fire in rear- end collisions. The investigation began in August 2010 and originally focused on...more
The SEC’s conflict minerals reporting rules became effective January 1, 2013, and those rules impose burdens on companies throughout the automotive supply chain, given how prevalent the so-called “conflict minerals” are in...more
Federal Safety Investigators have escalated the probe into the risk of door fires in the 2006-2007 Chevrolet Trailblazer. The investigation now involves 341, 786 vehicles...more
Detroit Electric has announced that in early April it will unveil a partnership with a Chinese carmaker to start August production of a limited edition, all electric sports vehicle in Michigan. Detroit Electric is led by...more
I want to thank Jeff Sovern over at the Public Citizen Consumer Law & Policy Blog for having an interesting back-and-forth with me over the last week about the application of the disparate impact theory of liability to dealer...more
On March 21, the CFPB issued Bulletin 2013-02, which provides guidance to bank and nonbank indirect auto lenders about compliance with federal fair lending requirements, and specifically addresses the practice by which auto...more
Federal Safety Investigators have expanded their investigation into a potential fire hazard in Toyota vehicles. The investigation now involves 1.4 million Toyota Cars and sport-utility vehicles. According the National Highway...more
Japanese Prime Minister Shinzo Abe’s announcement that Japan will join talks on the Trans-Pacific Pacific Partnership (“TPP”) presents potential challenges for the U.S. automotive sector. Together with Canada and Mexico’s...more
Ever since the CFPB’s release of its bulletin relating to disparate impact analysis of dealer rate participation last week, the press and consumer advocacy groups have been buzzing about the Bureau’s stance and its potential...more
Automotive sales in North America continue to climb, and many suppliers are prospering. However, there are some companies who are struggling and who may face bankruptcy. We have seen companies such as A123 Systems and certain...more
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