News & Analysis as of

Borrowers Repossess

Davis Wright Tremaine LLP

CFPB Action Puts the Brakes on Auto Lender's Repossessions

As COVID-19 continues to impact personal finances in the United States, the Consumer Financial Protection Bureau (CFPB) has ramped up enforcement actions intended to safeguard a set of borrowers not protected by the CARES...more

McGlinchey Stafford

Industry News: Recent Developments Affecting Manufactured Housing

McGlinchey Stafford on

Several industry updates that affect manufactured housing either take effect October 1, 2020, or will be unveiled sometime later this month. Detailed below is a summary of recent developments....more

McGlinchey Stafford

Repossessions during the COVID-19 pandemic

McGlinchey Stafford on

During normal times, creditors face a number of requirements when looking to exercise their self-help repossession rights in the event of a borrower’s default. Some of the factors a creditor must normally consider are...more

Maynard Nexsen

CentsAbility: Creditors' Rights Law Update - South Carolina Court of Appeals applies Uniform Commercial Code Six-Year Statute of...

Maynard Nexsen on

This summer, the South Carolina Court of Appeals decided the appeal of Coastal Federal Credit Union v. Brown. The Court had to determine which statute of limitations applied to the credit union’s action to collect a...more

MoFo Reenforcement

CFPB Orders Auto Financer to Pay $48.3M for Misleading Borrowers

MoFo Reenforcement on

On September 30, 2015, the CFPB ordered an indirect auto lending company and its auto lending subsidiary to pay $48.3 million in fines for alleged FDCPA, TILA, and UDAAP violations. The CFPB alleges that the companies...more

Ballard Spahr LLP

CFPB Orders Indirect Auto Finance and Title Loan Companies to Pay $48.35 Million in Redress and Penalties For Abusive Debt...

Ballard Spahr LLP on

The CFPB has entered into a consent order with Westlake Services, LLC, an indirect auto finance company, and its wholly owned subsidiary, Wilshire Consumer Credit, LLC, for alleged deceptive debt collection practices. The...more

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