Auto Finance – The Holder Rule — The Consumer Finance Podcast
Finding a good dance partner can be difficult. If all goes well, your and your partner's steps and turns are in sync, and you both are happy with the resulting dance. But occasionally, your dance partner may make a misstep...more
The California Supreme Court has ruled in Pulliam v. HNL Automotive Inc. that the FTC Holder Rule’s limit on a consumer’s “recovery” to the “amounts paid by the debtor” under the contract does include the consumer’s...more
On May 26, 2022, the California Supreme Court issued its decision in Pulliam v. HNL Automotive Inc., et al., Case No. S267576, 2022 WL 1672918 (May 26, 2022). The court held that the Federal Trade Commission (FTC) “Holder...more
On May 26, California Supreme Court ruled that the Federal Trade Commission’s (FTC) “Holder Rule” does not limit the award of attorneys’ fees where a consumer seeks fees from a holder under a state prevailing party statute....more
On March 22, California’s Fifth Appellate District Court of Appeals issued a decision on the availability of attorneys’ fees under the Federal Trade Commission’s (FTC) Holder Rule. This case follows recent FTC guidance and...more
On March 1, the Supreme Court of California held oral arguments in Pulliam v. HNL Automotive, Inc., No. S267576 (2021). The appeal may decide (at least under California state law) whether the Federal Trade Commission’s (FTC)...more
Last month, the FTC issued an advisory opinion clarifying that the Holder Rule does not preempt any state laws that put more liability on banks that are the “holders” of a loan contract, and in particular, the rule does not...more
On January 18, 2022, the Federal Trade Commission (FTC) issued an advisory opinion (the FTC Opinion) to clarify that the FTC’s Trade Regulation Rule Concerning Preservation of Consumers’ Claims and Defenses (the Holder Rule),...more
The FTC has issued an advisory opinion that addresses the impact of its Holder Rule on the ability of consumers to recover attorney’s fees and costs....more
On January 20, the FTC issued an advisory opinion clarifying that the Holder Rule does not prevent state law from providing costs or attorneys’ fees against loan holders, contrary to the conclusions drawn by some courts. The...more
On January 20, the Federal Trade Commission (FTC) issued an advisory opinion on the impact of the Trade Regulation Rule Concerning Preservation of Consumers’ Claims and Defenses (Holder Rule) on the recovery of attorneys’...more
Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients...more
The American Bankers Association, American Financial Services Association, California Financial Services Association, and Consumer Bankers Association have filed a joint amicus brief with the California Supreme Court in...more
The California Supreme Court recently agreed to hear an appeal in Pulliam v. HNL Automotive Inc., a case with significant implications for the amount of money a plaintiff can recover when proceeding against a dealer/seller...more