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Department of Defense (DOD) › Consumer Financial Protection Bureau (CFPB) › Automotive Loans

Ballard Spahr LLP

Military Lending Act violations alleged against title lender in Georgia class action

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A proposed class action lawsuit filed in the U.S. District Court for the Northern District of Georgia on February 21, 2024 against TitleMax of Georgia, Inc. and TMX Finance LLC (together, “TitleMax”) accuses the Georgia-based...more

McGlinchey Stafford

Regulatory updates and considerations for GAP providers and creditors

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Guaranteed asset protection (GAP) waivers have always held state regulators’ attention, but as vehicle price increases drive up consumer demand for debt cancellation agreements, regulatory scrutiny into such agreements is...more

Ballard Spahr LLP

Defense Department Dramatically Expands Scope of Military Lending Act

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The Department of Defense (DoD) dramatically expanded the scope of the Military Lending Act (MLA) on July 22, 2015, publishing its Final Rule amending the MLA’s implementing regulation. MLA coverage was previously limited to...more

Ballard Spahr LLP

CFPB to issue whitepaper on methodology for identifying auto finance discrimination and consider use of advisory opinions

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While Director Cordray’s appearance at the House Financial Services Committee’s hearing on the CFPB’s fifth Semi-Annual Report yesterday was accompanied by the usual dose of political theater, his testimony did yield the...more

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