Car Loans

News & Analysis as of

House Financial Services Chairman Presses CFPB On Auto Finance Enforcement

House Financial Services Committee Chairman Jeb Hensarling (R-TX) sent a letter today to CFPB Director Richard Cordray once again pressing the CFPB for information about its March 2013 auto finance guidance and its actions...more

Financial Services Law -- Jan 17, 2014

Community Banks and the Volcker Rule: What’s Next? - For now, banks that have investments in CDO securities that are issued by funds that are invested in trust preferred securities (TruPS CDOs) have dodged a bullet. On...more

Automotive Economic Indicators Show Promise

Equifax Inc. reported recently that new credit for auto loans reached an eight-year high in January and February 2013, as calculated by total dollar amounts loaned. For that two month period, new auto loans were 70% higher...more

The SCRA and Motor Vehicles - Auto Loans Vroom into the Forefront of Enforcement

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

SEC Charges Bank For Understating Auto Loan Losses

On April 24, the SEC released an order charging a financial institution and two senior executives for allegedly understating millions of dollars in auto loan losses during the period leading up to the financial crisis. The...more

The Myth of Bank Loyalty

On a fairly regular basis I have people that come into my office who desperately need to file bankruptcy but hesitate in doing so because of their concern over damaging what they view as a strong relationship with their bank....more

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