Automotive Loans

News & Analysis as of

CFPB Fall 2016 rulemaking agenda published

The CFPB’s Fall 2016 rulemaking agenda has been published as part of the Fall 2016 Unified Agenda of Federal Regulatory and Deregulatory Actions. The preamble indicates that the information in the agenda is current as of...more

Your Daily Dose of Financial News

Even as auto lending continues at near break-neck pace, regulators are expressing concerns about the rise (again) of subprime delinquencies from borrowers. The trend, at a time when the US economy is doing relatively well,...more

Repo Man Pays Off Elderly Couple’s Car

Having worked with family struggling with debt problems for over 14 years I have had more than a few interactions with repo men (and women). And more often then not these interaction’s don’t end well. It was just a few...more

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

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...more

Election results portend significant changes for CFPB

As a result of Donald J. Trump’s election as President, coupled with the Democrats’ failure to wrest control of the House or Senate from the Republicans, the CFPB can be expected to undergo significant changes that are likely...more

Kansas AG Settles With Auto Credit Company For Improperly Disclaiming Warranties

On August 19, 2016, the Kansas Attorney General announced a settlement with a Michigan-based auto credit company for “improperly disclaiming warranties in contracts with Kansas consumers in violation of the Kansas Consumer...more

CFPB issues Fall 2016 Supervisory Highlights

In its Fall 2016 Supervisory Highlights, which covers supervision work generally completed between May and August 2016, the CFPB highlights violations found by its examiners involving origination and servicing of auto...more

FTC Targets Auto Dealers, Alleges Deceptive Financing Practices

The Federal Trade Commission (FTC) has filed an action against nine auto dealerships and their individual owners in a California federal court that the FTC described as its "first action against an auto dealer for 'yo-yo'...more

CFPB receives unprecedented level of comments on payday, title and high-cost installment loan proposal

The comment period for the CFPB’s proposed rule on Payday, Title and High-Cost Installment Loans ended Friday, October 7, 2016.  The CFPB has its work cut out for it in analyzing and responding to the comments it has...more

Your daily dose of financial news - The Brief – 10.3.16

Deutsche Bank’s penchant for dealing in risk—in the form of currency swaps, bond sales, or derivatives, among others—has left it (and its highly leveraged balance sheet) particularly vulnerable amidst last week’s news of...more

DOJ Enters Into Consent Order with Bank Over Allegedly Discriminatory Vehicle-Secured Loans

On September 28, the U.S. Department of Justice (DOJ) announced that it had entered into a consent order with a bank to resolve allegations that the bank discriminated against Hispanic borrowers. The DOJ’s complaint, filed...more

FTC Files Complaint Against Nine Auto Dealers Over Financing Practices

On September 29, the Federal Trade Commission (FTC) announced that it had filed a complaint in the U.S. District Court for the Central District of California against nine auto dealers for purportedly engaging in deceptive and...more

CFPB Enters $9 Million Consent Order with Title Lender Over Disclosures and Debt Collection Activities

On September 26, the Consumer Financial Protection Bureau (CFPB) entered into a consent order with one of the country’s largest auto title lenders over allegations that the lender misled consumers about the terms and costs of...more

CFPB enters into consent order with auto title lender

The CFPB announced that it has entered into a consent order with TMX Finance, LLC to settle allegations that the company did not provide sufficient information to consumers about the terms of auto title loans, pawns or...more

CFPB announces enforcement actions against auto title lenders

The CFPB announced that it has filed administrative enforcement actions against five Arizona auto title lenders for alleged violations of Truth in Lending Act advertising requirements. According to the CFPB, the lenders...more

House Committee approves Dodd-Frank replacement bill

By a vote of 30-26 earlier this week, the House Financial Services Committee approved the “The Financial CHOICE Act of 2016” (H.R. 5983), the bill released in July 2016 by Committee Chairman Jeb Hensarling to replace the...more

Scope Of The Jury Trial Right In Civil FIRREA Actions

In recent years, the U.S. Department of Justice has stepped up its use of the Financial Institutions Reform, Recovery and Enforcement Act of 1989 to pursue civil enforcement actions against financial institutions and their...more

Could Rise in Auto Loan Delinquencies Signal Cooldown in Auto Industry?

The summer yielded mixed economic signals for the auto industry. On the plus side, U.S. unemployment rates and interest rates remain low. However, auto sales at several auto manufacturers, including Ford and GM, slipped in...more

CFPB Solicits Information On Registration System For Nonbanks

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

DOJ Settles SCRA Violations with Auto Financing Company for $400K

On August 8, the Department of Justice (DOJ) announced that an auto financing company agreed to pay $434,500 to settle alleged violations of the Servicemembers Civil Relief Act (SCRA). The DOJ alleged in its complaint that...more

Your daily dose of financial news - The Brief – 8.15.16

More details have emerged from the February cyberheist that resulted in the theft of more than $81 million from Bangladesh’s account at the NY Fed, including a pretty significant lack of critical concern from the bank itself....more

CFPB Supervisory Highlights – January 2016 to April 2016

On June 30, 2016, the Consumer Financial Protection Bureau (“CFPB”) released the twelfth edition of its Supervisory Highlights report (“Report”), which focused on supervision work completed between January and April 2016. The...more

CFPB touts initiatives in “fact sheets”

To commemorate its fifth anniversary, the CFPB released a series of “fact sheets” touting its initiatives. The “fact sheets” consist of the following: CFPB: By the numbers. The CFPB lists various statistics, such as...more

CFPB: The Quarterly Review - July 2016

In This Issue: •The CFPB Speaks •Rulemaking •Debt Collection •Payday Lending •Mortgages •Upcoming in 2016 - In the second quarter of 2016, the CFPB continued its strong pace of activity, initiating two...more

FTC Consent Order Creates Uncertainty for Advertising of Credit, Lease Offers

A recent Federal Trade Commission (FTC) consent order with two Ohio auto dealers creates uncertainty not only for auto dealers, but also for all other businesses advertising credit or lease offers. The order settled...more

236 Results
|
View per page
Page: of 10
JD Supra Readers' Choice 2016 Awards

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×