News & Analysis as of

Automotive Loans › Enforcement Actions › Settlement

Orrick, Herrington & Sutcliffe LLP

CFPB seeks withdrawal from auto finance suit

Orrick, Herrington & Sutcliffe LLP on

On April 24, the CFPB filed a memorandum in support of a consent motion to withdraw as a plaintiff in its enforcement action in the U.S. District Court for the Southern District of New York. The case involves the CFPB and the...more

Sheppard Mullin Richter & Hampton LLP

CFPB Dismisses Two Actions Against Student Loan Trusts and Subprime Auto Lender 

Sheppard Mullin Richter & Hampton LLP on

The CFPB recently dropped two more lawsuits it brought under the Chopra administration—one involving a student loan securitization trust and the other regarding a subprime auto finance company. Both lawsuits included...more

Goodwin

Massachusetts AG Enters Into $7.6 Million Settlement With Auto Dealer

Goodwin on

On February 2, 2023, the Massachusetts Attorney General’s Office (Massachusetts AG) announced that it had entered into a settlement with an auto dealer to resolve allegations that the company engaged in illegal auto loan...more

Goodwin

2021 Year in Review: Consumer Finance

Goodwin on

[co-authors: Amelie Hopkins, and Collin Grier] The year 2021 started with the hope of COVID-19 vaccines and a return to (relative) normalcy, only to conclude with new variants that presented new challenges and extended...more

Holland & Knight LLP

Coalition of State Attorneys General Secures $550M Settlement with Subprime Auto Lender

Holland & Knight LLP on

A coalition of 34 state attorneys general announced on May 19, 2020, that it had secured a settlement with one of the nation's largest subprime auto financing companies for alleged violations of state consumer protection...more

Goodwin

Multistate Investigation Results in $550 Million Settlement with Auto Financing Company

Goodwin on

On May 19, 2020, a coalition of 34 state attorneys general announced a settlement of over $550 million with an auto financing company. The settlement is the result of a five year, multi-state investigation into the company’s...more

Hudson Cook, LLP

Compliance: Setting up a Preventative Maintenance Compliance Budget

Hudson Cook, LLP on

Prioritizing compliance with federal and state law may be the last item on your never ending to-do list. Most days, you have bigger fish to fry - you want to increase sales and decrease overhead. However, a small investment...more

Goodwin

State Attorneys General Settle with National Bank for $575 Million over Auto and Mortgage Lending Practices

Goodwin on

On December 28, 2018, the Attorneys General (AGs) of all 50 states and the District of Columbia announced a settlement totaling $575 million with a national bank as the result of a coordinated investigation by the States. The...more

Goodwin

CFPB and OCC Settle with National Bank for $1 Billion Over Auto and Mortgage Lending Practices

Goodwin on

On April 20, 2018, the Consumer Financial Protection Bureau (CFPB)? and Office of the Comptroller of the Currency (OCC) each announced settlements totaling $1 billion with a national bank resulting from a coordinated action...more

Goodwin

DOJ Obtains $907,000 Settlement for Auto Lender’s Repossession of Active Duty Servicemembers’ Vehicles

Goodwin on

On September 18, 2017, the Department of Justice (“DOJ”) announced that it had entered into a $907,000 settlement with an auto loan lender and servicer (“Defendant”). In its co?mplaint,? filed the same day in the United...more

MoFo Reenforcement

One-Two Punch: CFPB Indirect Auto and Add-On Product Orders

MoFo Reenforcement on

The CFPB announced two new enforcement action settlements on September 28: one for alleged discriminatory auto loan pricing and the other for alleged deceptive credit card add-on product marketing practices....more

Ballard Spahr LLP

FTC Announces Settlement of First Actions against Auto Title Lenders

Ballard Spahr LLP on

The Federal Trade Commission recently announced that it has entered into proposed settlements with two auto title lenders that were charged with deceptive advertising in violation of Section 5 of the FTC Act and the Truth in...more

12 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up Log in
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide