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Troutman Pepper Locke

The Current State of the Holder Rule: Friend or Foe? — Moving the Metal: The Auto Finance Podcast

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In this episode of Moving the Metal: The Auto Finance Podcast, Brooke Conkle and Chris Capurso from Troutman Pepper Locke's Consumer Financial Services Practice Group examine the current status of the Federal Trade...more

Troutman Pepper Locke

Doc Fees Decoded: The Price of Paperwork in Auto Sales — Moving the Metal: The Auto Finance Podcast

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In this episode of Moving the Metal: The Auto Finance Podcast, hosts Brooke Conkle and Chris Capurso delve into the intricacies of "doc" fees in vehicle transactions, focusing on recent legislative developments in California...more

Troutman Pepper Locke

Cruising Through Change: The Auto-Finance Industry’s New Era Under Trump Unveiled — The Consumer Finance Podcast

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In this special crossover episode between Moving the Metal and The Consumer Finance Podcast, Brooke Conkle, Chris Capurso, and Chris Willis analyze the first 100 days of the second Trump administration, focusing on its impact...more

Troutman Pepper Locke

Driven by Data: Auto Finance Trends Uncovered - Moving the Metal: The Auto Finance Podcast

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In this episode, hosts Brooke Conkle and Chris Capurso delve into the latest TransUnion report on credit industry insights for the fourth quarter of 2024. With auto finance trends revealing rising loan-to-value ratios,...more

Troutman Pepper Locke

Dialing In: The TCPA and Auto Finance — Moving the Metal: The Auto Finance Podcast

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In this episode of Moving the Metal, hosts Brooke Conkle and Chris Capurso from Troutman Pepper Locke's Consumer Financial Services Practice Group explore the complexities of the Telephone Consumer Protection Act (TCPA) and...more

Troutman Pepper Locke

Breaking Granite: Understanding New Amendments to the New Hampshire Retail Installment Sales Act — Moving the Metal: The Auto...

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In this episode of Moving the Metal, Chris and Brooke break down recent amendments to the New Hampshire Retail Installment Sales Act. On August 2, New Hampshire Governor Chris Sununu signed HB 1243 into law, bringing...more

Troutman Pepper Locke

Dissecting Oral Arguments in NADA's Challenge to the CARS Rule — Moving the Metal: The Auto Finance Podcast

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In this podcast episode, Brooke Conkle and Chris Capurso are joined by esteemed senior practitioner Alan Wingfield to discuss the National Automobile Dealer Association’s (NADA) challenge to the Federal Trade Commission’s...more

Cooley LLP

CFPB Reveals Auto Financing and Servicing Concerns in Latest Report

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On October 7, 2024, the Consumer Financial Protection Bureau (CFPB) released its most recent Supervisory Highlights report, which largely focuses on auto finance issues identified in examinations completed by the CFPB between...more

Ballard Spahr LLP

Consumer groups show support of CFPB’s Auto Finance Data Pilot and urge the Bureau to expand its data collection

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In February 2023, the Consumer Financial Protection Bureau (“CFPB” or the “Bureau”) announced an auto finance data pilot, where it ordered nine large auto lenders to provide information about their auto lending portfolios....more

Seyfarth Shaw LLP

Fifth Circuit Set to Weigh Challenge to FTC’s CARS Rule - Seyfarth's Future of Automotive Series

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The administrative challenge brought by the National Automobile Dealers Association (NADA) and another trade association against the Combating Auto Retail Scams (“CARS”) Trade Regulation Rule, issued last year by the Federal...more

Troutman Pepper Locke

FTC and Arizona AG Reach $2.6 Million Settlement with Motor Vehicle Dealer Over Alleged Deceptive and Discriminatory Sales and...

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Last week, the Federal Trade Commission (FTC) and the State of Arizona announced a joint action against Coulter Motor Company, an Arizona-based motor vehicle dealership, and its former general manager, for allegedly engaging...more

Troutman Pepper Locke

The CARS Rule — Moving the Metal: The Auto Finance Podcast

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In this inaugural episode of Moving the Metal, Troutman Pepper attorneys Brooke Conkle and Chris Capurso examine the major requirements of the FTC's proposed CARS Rule. After a refresher on the rule's requirements, Brooke and...more

Ballard Spahr LLP

CFPB issues report on negative equity in auto financing

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A new CFPB report, “Negative Equity in Auto Lending,” contains an analysis of data relating to the financing of negative equity in vehicle trade-ins. The report uses data collected by the CFPB in response to nine market...more

Troutman Pepper Locke

Navigating Ancillary Products in Auto Finance — The Consumer Finance Podcast

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Join Troutman Pepper Partner Brooke Conkle and Associate Chris Capurso as they delve into the complexities of ancillary products in the auto finance industry. From GAP waivers to extended warranties, discover the latest...more

Ballard Spahr LLP

FTC files opposition to petition challenging CARS Rule in the 5th Circuit

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On May 14, 2024, the Federal Trade Commission’s (“FTC”) filed its brief in opposition to Petitioners’ Brief in the legal challenge to the Combating Auto Retail Scams Rule (“CARS Rule”). The petitioners are the National...more

Troutman Pepper Locke

Auto Finance – The Holder Rule — The Consumer Finance Podcast

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Troutman Pepper attorneys Brooke Conkle and Chris Capurso discuss the Federal Trade Commission's "Holder Rule" in the third of five special episodes devoted to auto finance issues. Although the Holder Rule has been around...more

Sheppard Mullin Richter & Hampton LLP

Auto Finance Company Faces Class Action Lawsuit for Targeting Military Families

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

Ballard Spahr LLP

CFPB seeks approval for new auto finance data collection

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The CFPB recently published a notice in the Federal Register indicating that it is seeking approval from the Office of Management and Budget (OMB) for the collection of additional auto finance data pursuant to its authority...more

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: The CARS Rule: What You Need To Know About the Federal Trade Commission’s Final Motor...

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Our special guest is Richard (“Rick”) Hackett, former Assistant CFPB Director responsible for auto finance regulation and presently a member of the Board of F&I Sentinel, which supports lender compliance in the auto finance...more

Morgan Lewis

FTC’s Final ‘Cars Rule’ on Dealer Sales Practices: Implications for Banks, Auto Finance, and ‘captives’

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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

McDermott Will & Schulte

Contract Drafting - International Cooperation Agreements

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In this series, we provide advice on drafting English-language contracts that are governed by German law. We will refer to these as international cooperation agreements moving forward. We focus on automotive finance...more

Ballard Spahr LLP

FTC issues final CARS Rule setting new requirements on vehicle sales

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On December 12, 2024, the Federal Trade Commission (“FTC”) announced its Combating Auto Retail Scams Rule, otherwise known as the “CARS Rule,” setting new requirements on the sale, financing, and leasing of vehicles by motor...more

McDermott Will & Schulte

Mobility@McDermott: Monthly Update - 8/2023

1. Federal Court of Justice rules on bank’s right of retention after withdrawal from loan and purchase agreements if consumer sells vehicle Germany’s highest civil court, the Federal Court of Justice (Bundesgerichtshof,...more

Orrick, Herrington & Sutcliffe LLP

Credit unions to pay $4 million in GAP fee refunds

On January 4, the Colorado attorney general announced settlements with two credit unions that will pay a combined $4 million in refunds to borrowers in the state who were entitled to “guaranteed automobile protection” (GAP)...more

Nelson Mullins Riley & Scarborough LLP

DOJ, CFPB Warn Auto Finance Companies about Servicemember Protections

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

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