News & Analysis as of

Automotive Loans Contract Terms

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

Hudson Cook, LLP

FTC Staff Report on Buying and Financing Cars: Part 2

Hudson Cook, LLP on

In July 2020, the Federal Trade Commission (“FTC”) issued its “Staff Report on Buying and Financing Cars.” The Staff Report consisted of two separate reports – a report from the FTC’s Bureau of Consumer Protection (“BCP”)...more

Carlton Fields

Tenth Circuit Affirms Partial Enforcement of Arbitration Clause

Carlton Fields on

The Tenth Circuit recently affirmed a district court’s decision partially compelling arbitration. Jesse Romero took out three title loans with TitleMax of New Mexico, Inc. Romero used his third loan to pay off his second loan...more

Burr & Forman

Second Circuit Denies Petition to Rehear Decision Holding that the TCPA Does Not Permit a Consumer to Unilaterally Revoke Consent...

Burr & Forman on

On October 20, 2017, the Second Circuit Court of Appeals denied a petition for panel rehearing, or in the alternative, for rehearing en banc of its decision in Reyes v. Lincoln Automotive Financial Services, 861 F. 3d 51 (2d...more

Carlton Fields

Circuit Court Finds Putative Class Affidavits, Combined With Other Records, May Satisfy Ascertainability Requirement

Carlton Fields on

Defendants BMW and Creditsmarts were parties to a marketing agreement through which BMW offered its direct automotive “up2drive” loans to borrowers at participating independent car dealers through Creditsmarts’ internet-based...more

Fenwick & West LLP

Second Circuit Holds Consumers Cannot Revoke Consent Given as Consideration in Bilateral Contract in TCPA Case

Fenwick & West LLP on

The U.S. Court of Appeals for the Second Circuit held that a consumer who agrees to be contacted via telephone call or text messages as bargained-for consideration in a bilateral contract cannot subsequently revoke his or her...more

Ballard Spahr LLP

CFPB enters into consent order with auto title lender

Ballard Spahr LLP on

The CFPB announced that it has entered into a consent order with TMX Finance, LLC to settle allegations that the company did not provide sufficient information to consumers about the terms of auto title loans, pawns or...more

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