CFPB's Policy Statement on Abusiveness (Part 2) - The Consumer Finance Podcast
The U.S. Department of Justice (“DOJ”) and the Consumer Finance Protection Bureau (“CFPB”) issued a joint letter reminding the auto finance industry to enforce certain interest rate restrictions and other consumer protection...more
On July 29, the CFPB and DOJ issued a joint letter to the auto lending and leasing industry reminding auto companies of their obligations under the Servicemembers Civil Relief Act (SCRA)....more
From the Department of Justice (DOJ) to the Massachusetts attorney general, auto financing has been the subject of several recent actions. What happened - The DOJ filed suit against a California-based indirect auto...more
In connection with a motion to dismiss, a Maryland federal district court has ruled that the cash “capitalized cost reduction” (CCR) payment allegedly made by a military servicemember upon signing his auto lease was...more
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