Loans, Retail Installment Contracts, and Refinancing Programs — Moving the Metal: The Auto Finance Podcast
The CFPB’s Report on Negative Equity in Auto Lending - Moving the Metal: The Auto Finance Podcast
The CARS Rule — Moving the Metal: The Auto Finance Podcast
Auto Finance – CFPB Circular Release — The Consumer Finance Podcast
Navigating Ancillary Products in Auto Finance — The Consumer Finance Podcast
Auto Finance – The Holder Rule — The Consumer Finance Podcast
Auto Finance – The CFPB Complaints Report — The Consumer Finance Podcast
Avoiding Auto Finance Pitfalls Under the FTC's New CARS Rule — The Consumer Finance Podcast
Consumer Finance Monitor Podcast Episode: The CARS Rule: What You Need To Know About the Federal Trade Commission’s Final Motor Vehicle Dealer Trade Regulation Rule, Part I
FTC Notice of Proposed Rulemaking for Voluntary Products in Automobile Finance Transactions - The Consumer Finance Podcast
Repo America Podcast: There's A New Sheriff In Town - What To Expect From The Revived CFPB
ConsumerFi Podcast with Eric Johnson: The New Administration's Impact on the Auto Sales and Lending Industries
AFSA Extra Credit Podcast: Auto Remote Sales Compliance
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
A proposed class action lawsuit filed in the U.S. District Court for the Northern District of Georgia on February 21, 2024 against TitleMax of Georgia, Inc. and TMX Finance LLC (together, “TitleMax”) accuses the Georgia-based...more
In a decision highly anticipated by the auto finance industry, a federal appeals court recently held that auto loans remain exempt from the Military Lending Act even when they finance related costs or services beyond the...more
In a highly anticipated decision regarding the treatment of Guaranteed Asset Protection (“GAP”) under the Military Lending Act (“MLA”), a federal appellate court has ruled that a hybrid loan that finances GAP coverage along...more
On April 12, a split U.S. Court of Appeals for the Fourth Circuit held that loans borrowed in part to finance the purchase of a car are not governed by the Military Lending Act (MLA), even when the loan covers additional...more
Today, the Fourth Circuit Court of Appeals issued a much-awaited opinion affirming the dismissal of a servicemember’s class-action suit brought under the Military Lending Act (MLA or Act) because, even though the secured...more
In this month's article, we share some of our top "bites" for the prior month covered during the March 2023 webinar....more
On February 23, 2023, the Consumer Financial Protection Bureau (CFPB) announced that it entered into a consent order with an auto lender based in Georgia....more
California recently enacted Senate Bill 1311, the Military and Veteran Consumer Protection Act of 2022, with the stated intent of strengthening the state's military consumer protection laws by enhancing protections for...more
On September 28, 2022, the Department of Justice (”DOJ”) announced a settlement with Westlake Financial Services (“Westlake”), a Los Angeles-based indirect auto finance company specializing in subprime and near-subprime...more
On July 29, the Consumer Financial Protection Bureau (CFPB) and Department of Justice (DOJ) issued a joint letter to auto finance companies, reminding them of the protections the Servicemembers Civil Relief Act (SCRA) affords...more
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
Following the Consumer Financial Protection Bureau’s supervisory observations that the auto finance industry seemed to be struggling with providing adequate consumer protections to servicemembers, the CFPB has joined with the...more
Continuing a recent trend of highlighting potential unfair and deceptive acts or practices (UDAAP) within the auto loan servicing industry, the Consumer Financial Protection Bureau (CFPB) recently issued a new blog post...more
In a significant victory for servicemembers and their families, who will again have access to products designed to protect them in the event of a total vehicle loss, the Department of Defense has revised its guidance that...more
The Department of Defense announced in its Fall 2019 rulemaking agenda that it is engaged in proposed rulemaking to amend its Military Lending Act (MLA) regulations, apparently in order to allow non-bank creditors to provide...more
On March 6, the U.S. Department of Justice (DOJ) announced that it had entered into a consent order with a California-based subprime auto lender and its affiliate. The order brings an end to a lawsuit filed by the DOJ in...more
Early last year, several trade groups, including the National Automotive Dealers Association (NADA), sent letters petitioning the Department of Defense (DoD) to rescind or withdraw Question and Answer #2 (Q&A 2) from its 2016...more
The holidays are a time for deals — rebates, discounts and special financing offers. Especially prevalent are automobile advertisements with images of big red bows atop shiny new cars and exhilarated families dashing out into...more
On November 2, 2018, the United States Attorney for the Southern District of New York announced a settlement with a New York based credit union, resolving allegations that the credit union had illegally repossessed cars owned...more
The Department of Justice recently entered into a settlement with Hudson Valley Federal Credit Union to resolve allegations that it violated the Servicemembers Civil Relief Act (SCRA) by repossessing vehicles owned by...more
NPR reported last week that the Trump Administration is planning to end the current prohibition under the Military Lending Act (“MLA”) against creditors offering service members GAP insurance in connection with credit...more
On March 28, the Department of Justice (DOJ) brought another lawsuit against an auto finance company alleging the company violated the Servicemembers Civil Relief Act (SCRA) by repossessing vehicles owned by servicemembers...more
On March 28, 2018, the Department of Justice (“DOJ”) announced it had filed a lawsuit in the Central District of California against an auto lender for allegedly repossessing the vehicles of members of the armed forces...more
On February 22, 2018, the Department of Justice (“DOJ”) announced that it had entered into a settlement with an auto financial services company for alleged violations of the Servicemembers Civil Relief Act (“SCRA”), 50 U.S.C....more