News & Analysis as of

Automotive Loans Automotive Industry

Ballard Spahr LLP

Consumer groups show support of CFPB’s Auto Finance Data Pilot and urge the Bureau to expand its data collection

Ballard Spahr LLP on

In February 2023, the Consumer Financial Protection Bureau (“CFPB” or the “Bureau”) announced an auto finance data pilot, where it ordered nine large auto lenders to provide information about their auto lending portfolios....more

Seyfarth Shaw LLP

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

Seyfarth Shaw LLP on

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...

Seyfarth Shaw LLP on

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...

Troutman Pepper on

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

Troutman Pepper on

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

Ballard Spahr LLP

CFPB issues report on negative equity in auto financing

Ballard Spahr LLP on

A new CFPB report, “Negative Equity in Auto Lending,” contains an analysis of data relating to the financing of negative equity in vehicle trade-ins. The report uses data collected by the CFPB in response to nine market...more

Troutman Pepper

Navigating Ancillary Products in Auto Finance — The Consumer Finance Podcast

Troutman Pepper on

Join Troutman Pepper Partner Brooke Conkle and Associate Chris Capurso as they delve into the complexities of ancillary products in the auto finance industry. From GAP waivers to extended warranties, discover the latest...more

Ballard Spahr LLP

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

Ballard Spahr LLP on

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

Troutman Pepper on

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

Ballard Spahr LLP on

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

Sheppard Mullin Richter & Hampton LLP

Auto Finance Company Faces Class Action Lawsuit for Targeting Military Families

On February 21, a proposed class action lawsuit was filed against an auto finance company in the U.S. District Court for the Northern District of Georgia alleging various violations of the Military Lending Act (“MLA”). The...more

Troutman Pepper

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

Troutman Pepper on

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

CFPB seeks approval for new auto finance data collection

Ballard Spahr LLP on

The CFPB recently published a notice in the Federal Register indicating that it is seeking approval from the Office of Management and Budget (OMB) for the collection of additional auto finance data pursuant to its authority...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...

Ballard Spahr LLP on

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

Morgan Lewis

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

Morgan Lewis on

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

McDermott Will & Emery

Contract Drafting - International Cooperation Agreements

McDermott Will & Emery on

In this series, we provide advice on drafting English-language contracts that are governed by German law. We will refer to these as international cooperation agreements moving forward. We focus on automotive finance...more

Ballard Spahr LLP

FTC issues final CARS Rule setting new requirements on vehicle sales

Ballard Spahr LLP on

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

McDermott Will & Emery

Mobility@McDermott: Monthly Update - 8/2023

1. Federal Court of Justice rules on bank’s right of retention after withdrawal from loan and purchase agreements if consumer sells vehicle Germany’s highest civil court, the Federal Court of Justice (Bundesgerichtshof,...more

Goodwin

CFPB Reports Troubling Trends in Auto Loan Servicing

Goodwin on

On July 26, 2023, the Consumer Financial Protection Bureau (CFPB) issued a new Supervisory Highlights report (Report) that sheds light on the CFPB’s observations and findings of unfair, deceptive, and abusive practices in...more

Foley & Lardner LLP

Foley Automotive Update - February 2023

Foley & Lardner LLP on

This update helps automotive suppliers inform their legal and operational decisions to help address challenges and opportunities. Key Developments - The National Automobile Dealers Association estimates U.S. new...more

Orrick, Herrington & Sutcliffe LLP

Credit unions to pay $4 million in GAP fee refunds

On January 4, the Colorado attorney general announced settlements with two credit unions that will pay a combined $4 million in refunds to borrowers in the state who were entitled to “guaranteed automobile protection” (GAP)...more

Hudson Cook, LLP

CFPB Bites of the Month - 2022 Annual Review

Hudson Cook, LLP on

In this article, we share a timeline of our monthly "bites" for 2022 applicable to the auto finance industry. So, what happened in 2022?...more

Troutman Pepper

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

Troutman Pepper on

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

Nelson Mullins Riley & Scarborough LLP

DOJ, CFPB Warn Auto Finance Companies about Servicemember Protections

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

Sheppard Mullin Richter & Hampton LLP

Regulators Remind Auto Industry of Servicemember Protections

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

147 Results
 / 
View per page
Page: of 6

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide