News & Analysis as of

Automotive Industry Consent Order

Orrick, Herrington & Sutcliffe LLP

CFPB drops in-house suit against motor vehicle company financial arm

On May 12, the CFPB terminated a consent order against a credit financing arm of a large motor vehicle company for violations related to the CFPA and FCRA. ...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Hazardous Waste Enforcement: Alabama Department of Environmental Management and Lincoln Automobile Manufacturing Facility Enter...

The Alabama Department of Environmental Management (“ADEM”) and Honda Development & Manufacturing of America, LLC DBA Alabama Auto Plant (“Honda”) entered into a Consent Order (“CO”) addressing alleged violations of the...more

Hudson Cook, LLP

California Regulator Signals New Era in Privacy Enforcement

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In March, 2025, the California Privacy Protection Agency announced a consent order with an auto manufacturer alleging multiple violations of the California Consumer Privacy Act and imposing a $632,500 fine for alleged failure...more

Hudson Cook, LLP

CFPB Bites of the Month - 2022 Annual Review

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In this article, we share a timeline of our monthly "bites" for 2022 applicable to the auto finance industry. So, what happened in 2022?...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Hazardous Waste Enforcement: Alabama Department of Environmental Management and Fort Payne Automotive Parts Manufacturing Facility...

The Alabama Department of Environmental Management (“ADEM”) and Plasman Corp LLC (“PLASMAN”) entered in a May 7th Consent Order addressing alleged violations of certain hazardous waste regulations found in ADEM-Admin. Code...more

Goodwin

Massachusetts AG Enters Consent Judgment with Used Car Company Resolving Predatory Lending Lawsuit

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On March 9, 2020, the Massachusetts attorney general’s office (Massachusetts AG) announced ?that it had entered into a consent judgment with a national used car company resolving allegations that the company’s local...more

Goodwin

Massachusetts AG Settles With Auto Lender Over Exceeding Interest Rate Caps

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On December 27, 2018, the Massachusetts Attorney General’s Office (AG) announced? that it had entered into a consent order with an auto lender, resolving allegations that the lender violated the Massachusetts Cost of Consumer...more

Ballard Spahr LLP

FTC Consent Order Creates Uncertainty for Advertising of Credit, Lease Offers

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A recent Federal Trade Commission (FTC) consent order with two Ohio auto dealers creates uncertainty not only for auto dealers, but also for all other businesses advertising credit or lease offers. The order settled...more

Stinson LLP

CFPB Continues to Take Action Against Offenders in Debt Collection Services

Stinson LLP on

CFPB Takes Action Against Servicemember Auto Lender Security National Automotive Acceptance Company - On October 28, 2015, the Consumer Financial Protection Bureau (CFPB) filed an administrative order against Security...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...

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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

Stinson LLP

CFPB and DOJ Take Action Against Fifth Third Bank

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On September 28, 2015, the Consumer Financial Protection Bureau (CFPB) announced two separate actions against Fifth Third Bank. The first action—brought only by the CFPB—relates to Fifth Third Bank’s marketing of credit card...more

Dorsey & Whitney LLP

Why Does the CFPB Want to Curb Auto Lenders’ Discretion to Charge Higher or Lower Interest Rates?

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On July 14, 2015, the Consumer Financial Protection Bureau (“CFPB”) and Department of Justice (“DOJ”) announced they had reached a “groundbreaking settlement” with American Honda Finance Corporation (“Honda”).(1) The...more

Foley & Lardner LLP

NHTSA Announces Record Setting Civil Penalty in Consent Order With Chrysler

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In 2014, NHTSA collected a record setting amount of civil penalties. For 2015, NHTSA may be on pace to exceed last year’s record. On July 26, 2015, NHTSA announced a $105 million civil penalty against FCA US LLC, the former...more

MoFo Reenforcement

CFPB Brings First ECOA Disparate Impact Action Post-Inclusive Communities

MoFo Reenforcement on

Just over 18 months after bringing a disparate impact-based ECOA case against Ally Financial (“Ally”) for discriminatory auto loan pricing, the CFPB has struck again—this time taking action against American Honda Finance...more

Foley & Lardner LLP

NHTSA Seeks to Push Beyond the “New Normal” and into the “New Paradigm”

Foley & Lardner LLP on

In recent years, the National Highway Traffic Safety Administration (NHTSA) has received increased public and Congressional scrutiny stemming from high-profile safety defects, such as the Toyota unintended-acceleration issues...more

Foley & Lardner LLP

The Takata Consent Order – Here's What You Need to Know

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As is well known by now, TK Holdings Inc. – Takata – has entered a Consent Order with the National Highway Traffic Safety Administration (“NHTSA”). The details and latest information on the Takata recall can be found online...more

Ballard Spahr LLP

NY regulator settles lawsuit filed using Dodd-Frank authority

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A settlement has been announced in the lawsuit filed by Benjamin Lawsky, the Superintendent of the New York Department of Financial Services, using his Dodd-Frank Section 1042 authority. Section 1042 allows state attorneys...more

Ballard Spahr LLP

Furnishers Beware – CFPB Signals That Civil Penalties May Be Appropriate Even Without Any Actual Consumer Injury

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Yesterday, the CFPB announced a consent order with First Investors Financial Services Group, Inc., an auto finance company that both makes loans to consumers and purchases retail installment sale contracts from auto dealers....more

Stinson - Corporate & Securities Law Blog

Lender Agrees to Pay CFPB $2.75 Million Fine for Distorting Credit Records

The CFPB obtained a consent order from an auto finance company that allegedly distorted consumer credit records for years. The auto finance company, which according to the CFPB lends primarily to subprime borrowers, allegedly...more

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