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Automotive Loans › Consumer Financial Contracts

Hudson Cook, LLP

Not All Third Parties Are Created Equal

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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

Goodwin

2024 Year in Review: Auto Loan Origination and Servicing

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We anticipate that the Consumer Financial Protection Bureau (CFPB) will continue to closely monitor the advertising practices of auto lenders and servicers as well as the practices around add-on products....more

Troutman Pepper Locke

Requiem for the Rules: The Rise and Fall of the Junk Fee and CARS Rules — 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 discuss the rise and fall of the Junk Fee Rule and the CARS Rule. They delve...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

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

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

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

Hudson Cook, LLP

New York Department of Financial Services Reminds Auto Finance Companies to Credit Consumers for Ancillary Product Refunds

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If you cancel a service before your contract is up and you paid ahead of time, you probably expect a refund. For example, if you paid $600 for a year's worth of a service and cancelled nine months into the contract, you...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

Troutman Pepper Locke

Nissan Becomes Most Recent Target of CFPB Ire: Auto Finance Company Enters into $4 Million Consent Order for Alleged Unlawful...

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On October 13, 2020, the Consumer Financial Protection Bureau (the “CFPB”) announced that it entered into a consent order (the “Order”) with Nissan Motor Acceptance Corporation (“Nissan”) to resolve allegations that the auto...more

McDermott Will & Schulte

Automotive Finance Update – The Digital Point of Sale

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Legal aspects to consider when digitalizing the execution of automotive finance contracts at the dealership - In recent years, in order to increase sales, car manufacturers have integrated the provision of finance products...more

Goodwin

2017 Consumer Finance Year in Review

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The consumer financial services industry began 2017 with optimism, as well as considerable uncertainty with the new Administration in the White House, knowing only that the year would bring change. And change it did bring...more

Bradley Arant Boult Cummings LLP

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

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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

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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

Burr & Forman

Florida’s Third DCA Enforces Florida Arbitration Statute – Sends Questions of Enforceability and Unconscionability to Arbitrator

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In Arrasola v. MGP Motor Holdings, LLC, 3D15-381, 40 Fla. L. Weekly D1837b (Fla. 3d DCA August 5, 2015) the Florida Third District Court of Appeal was asked to resolve whether a court or an arbitrator should decide if an...more

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