News & Analysis as of

Automotive Loans

Recent Bankruptcy Decision from the Western District of Wisconsin Discusses Negative Equity, Car Loans, and the Chapter 13 Cram...

by Ruder Ware on

A quick introduction for those of you who are not bankruptcy nerds. For certain types of collateral, Chapter 13 allows a Debtor to reduce a secured creditor’s claim down to the value of the collateral. This is called “cram...more

Nevada Enacts Multiple Laws Affecting Consumer Finance

by Ballard Spahr LLP on

Nevada is rolling out a slate of legislation affecting consumer finance, including a measure to protect consumers’ privacy online and programs aimed at mitigating their risk of foreclosure. Here is a list of measures recently...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Activist investor Nelson Peltz is officially taking on his biggest target yet—consumer-products giant Procter & Gamble. The announcement begins the public stage of a fight we’ve been waiting for since Peltz’s Trian Fund Mgmt...more

Justice Department Settles with Michigan Credit Union for Violations of the Servicemembers Civil Relief Act

by Ballard Spahr LLP on

The U.S. Department of Justice (DOJ) announced last week that it reached an agreement with Michigan-based COPOCO Community Credit Union to settle a lawsuit alleging that the credit union violated the Servicemembers Civil...more

How Connected Cars and Autonomous Vehicles Will Change and Shape the Future of How We Move

by Hogan Lovells on

In this hoganlovells.com interview, Hogan Lovells partner Lance Bultena talks about the impact connected cars and autonomous vehicles (AVs) will have on America’s infrastructure and environment; the services associated with...more

You Can’t Always Get What You Want—Second Circuit Affirms Parties Can Bargain Away TCPA Right To Revoke Consent To Automated Calls

As the Rolling Stones famously sing, “You can’t always get what you want.” And in the ever treacherous world of the Telephone Consumer Protection Act (“TCPA”), 47 U.S.C. § 227, et seq., the Second Circuit has ruled that means...more

Second Circuit: You Agreed to be Called When They Loaned You the Money, So Now Live With It

In a case of first impression, the Second Circuit recently ruled that the TCPA does not permit a consumer to unilaterally revoke bargained-for consent to be contacted by autodialer and pre-recorded voice calls on a mobile...more

Second Circuit Holds Consumers Cannot Revoke Consent Given as Consideration in Bilateral Contract in TCPA Case

by Fenwick & West LLP on

The U.S. Court of Appeals for the Second Circuit held that a consumer who agrees to be contacted via telephone call or text messages as bargained-for consideration in a bilateral contract cannot subsequently revoke his or her...more

Second Circuit Holds That TCPA Does Not Permit Consumer to Unilaterally Revoke Consent for Telephone Contact Provided in Binding...

by Blank Rome LLP on

In Reyes v. Lincoln Automotive Financial Services, the United States Court of Appeals for the Second Circuit recently held that the Telephone Consumer Protection Act (“TCPA”) does not permit a consumer to unilaterally revoke...more

Second Circuit Holds That TCPA Does Not Permit Unilateral Revocation of Consent Obtained Contractually

by Ballard Spahr LLP on

The U.S. Court of Appeals for the Second Circuit recently held, in Reyes v. Lincoln Automotive Financial Services, that the Telephone Consumer Protection Act (TCPA) "does not permit a consumer to revoke its consent to be...more

FTC Releases Agenda And Panelists For Upcoming Military Consumer Financial Workshop

by Ballard Spahr LLP on

On July 19, the Federal Trade Commission will hold a workshop in San Antonio titled the “2017 Military Consumer Financial Workshop: Protecting Those Who Protect Our Nation.” The FTC has uploaded an agenda and list of...more

FTC Provides 2016 Enforcement Report to CFPB

by Ballard Spahr LLP on

The Federal Trade Commission has provided its annual Financial Acts Enforcement Report to the CFPB covering the FTC’s enforcement activities in 2016 relating to compliance with Regulation Z (Truth in Lending Act), Regulation...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Here we were watching Amazon for a Slack pick-up, and all the while it had its eyes set on Whole Foods. Jeff Bezos added the upscale grocery giant to Amazon’s expanding portfolio for $13.7 billion on Friday (perhaps kicking...more

The Long Arm of U.S. Sanctions: Penalty Imposed Against Canadian Subsidiary of U.S. Subsidiary of Japanese Company

by Bass, Berry & Sims PLC on

On June 8, the Office of Foreign Assets Control (OFAC) announced a monetary penalty against American Honda Finance Corporation (American Honda) for alleged violations of the Cuban Assets Control Regulations (CACR), the...more

Two Key Takeaways from the Defendant’s FDCPA Win in Henson v. Santander

The United States Supreme Court issued a significant decision in Henson v. Santander Consumer USA, Inc. drastically restricting the universe of companies subject to potential liability under the Fair Debt Collection Practices...more

GAO to opine on whether CFPB indirect auto finance guidance is a rule subject to disapproval under the Congressional Review Act

by Ballard Spahr LLP on

American Banker has reported that the Government Accountability Office has accepted a request from Senator Pat Toomey on whether the CFPB’s indirect auto finance guidance issued in March 2013 is a “rule” under the...more

Perfection of security interests when assets move jurisdictions

by DLA Piper on

When a financing statement is registered to perfect a security interest in collateral, it is the responsibility of the secured party to monitor the registration to ensure that a new financing statement is filed if the goods...more

NC AG Obtains Judgment Against Auto Title Lender For Illegal Loans

by Goodwin on

?On May 8, 2017, the North Carolina Attorney General (“NC AG”) announced that it had obtained a final judgment against an auto title lender and two of its employees in North Carolina State Court. The NC AG alleged that the...more

Trying Times for Secondary Market for Consumer Debts

by Pierce Atwood LLP on

Those engaged in the business of selling consumer debt or of purchasing delinquent consumer debt for collection purposes are well-advised to take heed of the recent developments on the judicial and legislative fronts that...more

CFPB Fines Auto Lender $1.25 Million for Violations of Consent Order

by Goodwin on

?On April 26, 2017, the Consumer Finance Protection Bureau (CFPB) announced that it reached a consent order with an Ohio-based auto lender that allegedly violated a prior CFPB consent order by failing to properly return $1...more

CFPB Spring 2017 Supervisory Highlights focuses on mortgage origination/servicing, student loan servicing deficiencies, service...

by Ballard Spahr LLP on

The CFPB’s newly-released Spring 2017 edition of Supervisory Highlights covers supervisory activities generally completed between September and December 2016. The report indicates that supervisory resolutions resulted in...more

FCA publishes its mission and annual business plan

by DLA Piper on

The Financial Conduct Authority has this week published its mission, which will give firms and consumers greater clarity about how it prioritises its interventions in financial markets. It has simultaneously published its...more

OCC Publishes New “Retail Lending” Booklet

by Ballard Spahr LLP on

Last week the Office of the Comptroller of the Currency published a “Retail Lending” booklet, a new addition to the Safety and Soundness Asset Quality category of the Comptroller’s Handbook, which discusses the risks...more

Have the Good Times Ceased to Roll?

by Foley & Lardner LLP on

Ahhh, the heady days of 2016. Remember that? 17.6 million vehicles sold in the United States. As reported by Automotive News (and others), Deutsche Bank says those good times may very well be over and the Auto Industry may be...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Foreclosure stats are a far cry from their heights in the aftermath of the 2008 economic crisis. But the big news in the industry is the rise of party players that were barely a blip on the scene (if around at all) 10 years...more

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Cybersecurity

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