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Federal Trade Commission (FTC) Automotive Loans

Seyfarth Shaw LLP

Fifth Circuit Set to Weigh Challenge to FTC’s CARS Rule - Seyfarth's Future of Automotive Series

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The administrative challenge brought by the National Automobile Dealers Association (NADA) and another trade association against the Combating Auto Retail Scams (“CARS”) Trade Regulation Rule, issued last year by the Federal...more

Seyfarth Shaw LLP

FTC Continues Aggressive Enforcement Actions To Deter Deceptive Pricing Practices By Car Dealers - Seyfarth's Future of Automotive...

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On Thursday, August 15, 2024, the Federal Trade Commission (FTC) and Arizona Attorney General announced a $2.6 million settlement to resolve claims that Coulter Motor Company used deceptive online advertising to lure...more

Troutman Pepper

FTC and Arizona AG Reach $2.6 Million Settlement with Motor Vehicle Dealer Over Alleged Deceptive and Discriminatory Sales and...

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Last week, the Federal Trade Commission (FTC) and the State of Arizona announced a joint action against Coulter Motor Company, an Arizona-based motor vehicle dealership, and its former general manager, for allegedly engaging...more

Troutman Pepper

The CARS Rule — Moving the Metal: The Auto Finance Podcast

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In this inaugural episode of Moving the Metal, Troutman Pepper attorneys Brooke Conkle and Chris Capurso examine the major requirements of the FTC's proposed CARS Rule. After a refresher on the rule's requirements, Brooke and...more

Troutman Pepper

FTC Issues 2023 Staff Report on Actions Related to Credit, Leases, and Electronic Fund Transfers

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On May 28, the Federal Trade Commission (FTC) released its annual report to the Consumer Financial Protection Bureau (CFPB) detailing enforcement and educational activities undertaken in 2023. The report pertains to actions...more

Ballard Spahr LLP

FTC files opposition to petition challenging CARS Rule in the 5th Circuit

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On May 14, 2024, the Federal Trade Commission’s (“FTC”) filed its brief in opposition to Petitioners’ Brief in the legal challenge to the Combating Auto Retail Scams Rule (“CARS Rule”). The petitioners are the National...more

Troutman Pepper

Auto Finance – The Holder Rule — The Consumer Finance Podcast

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Troutman Pepper attorneys Brooke Conkle and Chris Capurso discuss the Federal Trade Commission's "Holder Rule" in the third of five special episodes devoted to auto finance issues. Although the Holder Rule has been around...more

Ballard Spahr LLP

Update on Petition to Review FTC’s CARS Rule

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Petitioners in the challenge to the Federal Trade Commission’s (“FTC”) Combating Auto Retail Scams Rule (“CARS Rule”) filed their Petitioners’ Brief on March 15, 2004 in support of their petition for review, and a who’s who...more

Troutman Pepper

Avoiding Auto Finance Pitfalls Under the FTC's New CARS Rule — The Consumer Finance Podcast

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In this insightful episode of The Consumer Finance Podcast, Chris Willis is joined by Partners Brooke Conkle and Alan Wingfield, as they delve into the topic of regulatory risk and litigation exposure for auto finance...more

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: The CARS Rule: What You Need To Know About the Federal Trade Commission’s Final Motor...

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Our special guest is Richard (“Rick”) Hackett, former Assistant CFPB Director responsible for auto finance regulation and presently a member of the Board of F&I Sentinel, which supports lender compliance in the auto finance...more

Hudson Cook, LLP

CFPB Bites of the Month - 2023 Annual Review - Auto

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In this article, we share a timeline of our monthly "bites" for 2023 applicable to the auto finance industry. We think it's safe to say that the auto finance industry was top of mind to the CFPB. ...more

Morgan Lewis

FTC’s Final ‘Cars Rule’ on Dealer Sales Practices: Implications for Banks, Auto Finance, and ‘captives’

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The Federal Trade Commission recently issued a final rule that is squarely aimed at changing the way dealers interact with customers in the financing process. The final rule takes effect on July 30, 2024....more

Ballard Spahr LLP

FTC issues final CARS Rule setting new requirements on vehicle sales

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On December 12, 2024, the Federal Trade Commission (“FTC”) announced its Combating Auto Retail Scams Rule, otherwise known as the “CARS Rule,” setting new requirements on the sale, financing, and leasing of vehicles by motor...more

BakerHostetler

FTC Not Kidding that Discrimination Violates Section 5

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We all know that discrimination violates various federal and state laws, but the FTC has been insisting for a while now that it also violates Section 5. A recent joint complaint the agency brought with the State of Wisconsin...more

Hudson Cook, LLP

New York Department of Financial Services Reminds Auto Finance Companies to Credit Consumers for Ancillary Product Refunds

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If you cancel a service before your contract is up and you paid ahead of time, you probably expect a refund. For example, if you paid $600 for a year's worth of a service and cancelled nine months into the contract, you...more

Wiley Rein LLP

Wiley Consumer Protection Download (August 7, 2023)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Ballard Spahr LLP

FTC requests comment on consumer advocate petition regarding auto “yo-yo financing”

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On May 31, 2023, the Federal Trade Commission (“FTC”) requested public comment on a petition for rulemaking it received from six national consumer advocate groups regarding “yo-yo sales,” a term the groups use to refer to...more

Spilman Thomas & Battle, PLLC

All Consuming - Financial Litigation Insights, V 4, Issue 1, June 2023

CFPB - Regulators Take Aim at AI to Protect Consumers and Workers - “In the past year, the Consumer Finance Protection Bureau said it has fined banks over mismanaged automated systems that resulted in wrongful home...more

Cozen O'Connor

The State AG Report – 3.23.2023

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Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •Kia and Hyundai Urged by Bipartisan Coalition of AGs to...more

Hudson Cook, LLP

CFPB Bites of the Month - March 2023 - Beware the Ides of March and the CFPB

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In this month's article, we share some of our top "bites" for the prior month covered during the March 2023 webinar....more

Orrick, Herrington & Sutcliffe LLP

FTC provides 2022 ECOA summary to CFPB

On February 9, the FTC announced it recently provided the CFPB with its annual summary of activities related to ECOA enforcement, focusing specifically on the Commission’s activities with respect to Regulation B. ...more

Wiley Rein LLP

Wiley Consumer Protection Download (January 17, 2023)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Wiley Rein LLP

Wiley Consumer Protection Download (January 3, 2023)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Troutman Pepper

FTC Notice of Proposed Rulemaking for Voluntary Products in Automobile Finance Transactions - The Consumer Finance Podcast

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Please join Troutman Pepper Partner Chris Willis and his guests and colleagues Alan Wingfield and Brooke Conkle as they discuss the Federal Trade Commission's (FTC) recent Notice of Proposed Rulemaking governing voluntary...more

Spilman Thomas & Battle, PLLC

All Consuming - Financial Litigation Insights, Volume 3, Issue 9

Mortgage Lenders are Starting to Go Broke Amid Rate Spike and US Mortgage Lenders are Starting to Go Bankrupt — How This One Factor Could be Triggering the Worst Surge of Failures Since 2008 "Last year, two-thirds of the...more

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