News & Analysis as of

Retail Installment Sales Contracts

Tenth Circuit Finds That Arbitration Agreement Governs Dispute

by Carlton Fields on

The Tenth Circuit has determined that an arbitration agreement included as part of a set of agreements executed in connection with the purchase of a pickup truck applied to a dispute over a replacement set of agreements that...more

SC Court of Appeals Holds 6-Year Statute of Limitations Does Not Apply - UCC claim was filed against automotive lender

by Nexsen Pruet, PLLC on

You may have read about South Carolina Court of Appeals’ decision to extend the 6-year statute of limitations to UCC claims involving secured transactions arising out of automobile purchases. In Delaney v. First Financial of...more

FTC Targets Auto Dealers, Alleges Deceptive Financing Practices

by Ballard Spahr LLP on

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

When are Lease-to-Own Agreements Subject to State Disclosure Requirements?

by Dorsey & Whitney LLP on

In a recent decision, the Massachusetts Appeals Court held that a three-year lease-to-own agreement for a water heater was not subject to certain disclosure requirements. In the case, Saia v. Bay State Gas Co., 88...more

CA Supreme Court Upholds Class Action Waivers in Long-awaited Sanchez Decision

by BakerHostetler on

On August 3, 2015, the California Supreme Court issued its long-awaited decision in Sanchez. v. Valencia Holding Company, LLC (2015) — Cal.4th — (Sanchez). The court provided much-needed clarity for consumers and auto finance...more

Maryland High Court: Mandatory Arbitration Hinges on “Entire Agreement,” Not “Single-Document Rule”

by Ballard Spahr LLP on

A mandatory arbitration provision is enforceable even when not contained within the four corners of a retail installment sales contract between a consumer and an automobile dealer, Maryland's highest court has ruled....more

Report from SBREFA Panel on Payday, Title and Installment Loans

by Ballard Spahr LLP on

Wednesday, I had the opportunity to participate as an advisor to a small entity representative (“SER”) at the small business review panel on payday, title and installment loans. The meeting was held in the Treasury Building’s...more

Fourth Circuit Affirms Order Dismissing Case To Permit Arbitration Against Non-Signatory To Arbitration Agreement

by Carlton Fields on

An arbitration agreement was contained in a retail installment contract. The Fourth Circuit affirmed the lower court’s dismissal of the case pending arbitration against a non-signatory to the arbitration agreement on two...more

Auto Notes - December 2014

by McNees Wallace & Nurick LLC on

In This Issue: - Retail Vehicle Installment Sale Contracts Now Regulated under PA Consumer Credit Code’s Motor Vehicle Sales Finance Provisions - Arbitration Clauses Referencing American Arbitration...more

AFSA vehicle sales finance study finds significant flaws in CFPB disparate impact methodology and approach

by Ballard Spahr LLP on

A study of indirect auto financing commissioned by the American Financial Services Association found that the CFPB’s proxy methodology for measuring disparities in auto dealer reserve is “conceptually flawed in its...more

Pa. Amendments to Installment Sales Statutes Require Attention

by Ballard Spahr LLP on

Changes to two Pennsylvania statutes governing installment sales will take effect on November 27, 2014, as a result of House Bill 1128, signed into law by Governor Corbett as Act No. 2013-98 (Act 98). Act 98 repeals the...more

The CFPB Stretches ECOA Past the Breaking Point with Auto Finance

by Ballard Spahr LLP on

In a story released last night, Carter Dougherty at Bloomberg reports that the CFPB has warned “at least four banks” that it may take enforcement action against them under ECOA, alleging that a “policy” of “allowing” dealers...more

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