News & Analysis as of

Consumer Financial Contracts Lenders

Orrick, Herrington & Sutcliffe LLP

California strengthens commercial financing laws

On October 6, the governor of California signed into law SB 362 to increase transparency in commercial financing disclosures. The act prohibits providers of commercial financing from using the terms “interest” or “rate” in a...more

Akin Gump Strauss Hauer & Feld LLP

FCA Consultation Paper on Motor Finance Redress Published

Motor finance agreements are often arranged on (or rather near) a motor dealership forecourt. To facilitate the sale of a vehicle, the motor dealer acts as a broker for a consumer to finance that vehicle, with the ultimate...more

King & Spalding

Motor finance litigation moves up a gear with FCA plan

King & Spalding on

The FCA has announced the details of its proposed industry-wide redress scheme for motor finance customers who were treated unfairly between 2007 and 2024. This follows the UK Supreme Court’s recent judgment in the ‘Motor...more

Hudson Cook, LLP

Not All Third Parties Are Created Equal

Hudson Cook, LLP on

Motor vehicle purchase and finance transactions are rarely simple, even if they're routine from the perspective of the businesses involved. The typical motor vehicle retail installment transaction features the buyer, the...more

Troutman Pepper Locke

Washington State Representatives Propose Amendments Targeting Bank Model Lending and Loan Programs Based on Tips or Memberships

Troutman Pepper Locke on

Washington now joins the list of states that have enacted or proposed legislation adopting so-called anti-evasion provisions, including legislation passed in Minnesota, Connecticut, Nebraska, and proposed in Florida. On...more

Bradley Arant Boult Cummings LLP

Five Years Later: Five Takeaways From the Bulletin That Rocked the Auto Finance Industry

In 2013, the Consumer Financial Protection Bureau (CFPB) issued a bulletin on indirect auto lending that took the industry by storm. As we approach the five-year anniversary of the memo’s issuance, it’s valuable to reflect on...more

Bradley Arant Boult Cummings LLP

2017 in Review: Three State Enforcement Trends Impacting the Auto Finance Industry

Auto lenders, like many private citizens, began 2017 curious as to what change the impending Trump administration would bring. In the landscape of government enforcement, however, the consensus amongst industry participants...more

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