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Troutman Pepper Locke

CFPB Proposes Rules Re-Defining Larger Participants in Multiple Markets

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On August 8, the Consumer Financial Protection Bureau (CFPB or Bureau) published a series of proposed rules aimed at redefining what constitutes a “larger participant” in several key financial markets. Under § 1024 of the...more

A&O Shearman

UK House of Lords Committee's Concerns in Relation to Motor Finance Redress Proposals

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The UK's House of Lords Financial Services Regulation Committee (the Committee) published its letter to the FCA, expressing concern and requests for further information in relation to the FCA's motor finance redress...more

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

Hudson Cook, LLP

The State Consumer Protection Beat: State AGs Kick Off 2025 with a String of Actions and Support for the CFPB

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The first two months of 2025 were filled with numerous consumer protection actions by state AGs against vehicle dealers and players in the mortgage space, among others. ...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

Troutman Pepper Locke

New Hampshire Enacts Law Overhauling Its Motor Vehicle Retail Installment Sales Act

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Any business involved in motor vehicle installment financing in New Hampshire needs to assess the multiple and significant changes to a key law that have been enacted with immediate effect....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

Holland & Knight LLP

The FTC and Connecticut Join Forces for Action Against Nissan Dealer

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In this episode of his "Clearly Conspicuous" podcast series, "The FTC and Connecticut Join Forces for Action Against Nissan Dealer," consumer protection attorney Anthony DiResta discusses a recent action taken by the Federal...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

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

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

Burr & Forman

District Court Rules that Consumer’s Claims Under Georgia’s Fair Business Practices Act Relating to Sale and Finance of Automobile...

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The United States District Court for the Northern District of Georgia has recently ruled that a consumer cannot maintain a claim under the Georgia Fair Business Practices Act (GFBPA) where the claim arises out of a loan...more

Ballard Spahr LLP

FTC and Wisconsin AG enter into settlements with auto dealerships for alleged discriminatory financing practices deceptive add-on...

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The Federal Trade Commission and Wisconsin Attorney General have entered into settlements with a group of auto dealerships, their current and former corporate owners, and their general manager for allegedly engaging in...more

McGlinchey Stafford

The Fuss About Junk Fees, Pt. 1: Biden, CFPB, and FTC Collaborate

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Anyone who has financed the purchase of a good or service, had a bank account, bought a car, or purchased sporting event tickets has almost assuredly encountered what the Biden Administration and various regulatory agencies...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

Sheppard Mullin Richter & Hampton LLP

CFPB Issues Spring 2022 Supervisory Highlights

On May 2, the CFPB released its Spring 2022 Supervisory Highlights. The findings of the report, which generally cover examinations completed between July and December 2021, are issued to help institutions and the general...more

Hudson Cook, LLP

Recent Settlement with Massachusetts AG Addresses Compliance Emphasis on Collection Calls, Repossession Notices, and Service...

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On September 1, 2021, the Commonwealth of Massachusetts, through the Massachusetts attorney general, entered into a settlement agreement and related Assurance of Discontinuance with a sales finance company. The AOD identifies...more

Goodwin

PPP Extended; CFPB Revokes Pandemic-Related Regulatory Relief

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In This Issue. President Biden signed a bill extending the Small Business Administration’s (SBA) Paycheck Protection Program (PPP) through May 31, 2021; the Consumer Financial Protection Bureau (CFPB) announced the rescission...more

Robins Kaplan LLP

Financial Daily Dose 12.18.2019 | Top Story: Fiat Chrysler and Peugeot Boards Agree to $50 Billion Merger

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Fiat Chrysler and rival Peugeot have agreed to binding merger terms that, if approved by US and European regulators, would create a “$50 billion auto giant that would rank among the world’s largest car companies by sales”....more

Robins Kaplan LLP

Your Daily Dose of Financial News

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On second thought, Wall Street does have some questions about the specifics of the pause in the trade war that apparently emerged from the G-20 sidelines this weekend.  And when Wall Street has questions—well, not a banner...more

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