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Car Dealerships Consumer Financial Products

Latham & Watkins LLP

UK Supreme Court Hands Down Combined Judgment Affecting Consumer Finance Sector

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The judgment brings clarity regarding the fiduciary duty and unfair relationships. The consumer finance sector now awaits the FCA’s plans for a new redress scheme covering commission arrangements....more

Hudson Cook, LLP

CFPB's Consumer Response Annual Report for 2024 Analyzes Increased Consumer Complaints

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The Consumer Financial Protection Bureau recently delivered its Consumer Response Annual Report for 2024, as required by the Dodd-Frank Wall Street Reform and Consumer Protection Act. The report includes analyses of...more

Hudson Cook, LLP

Consumer Financial Services Bites of the Month - June 2025

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In this month's article, we share some of our top "bites" covered during the June 2025 webinar....more

Troutman Pepper Locke

The Future of Auto Dealership Compliance: A Conversation With Tom Kline — Moving the Metal: The Auto Finance Podcast

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In this episode of Moving the Metal, Brooke Conkle and Chris Capurso from Troutman Pepper Locke's Consumer Financial Services Practice Group are joined by Tom Kline, lead consultant and founder of Better Vantage Point. Tom...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

Troutman Pepper Locke on

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

Ballard Spahr LLP

CFPB wins default judgment in auto dealership complaint, but federal judge rejects bureau assessment of damages

Ballard Spahr LLP on

A federal District Judge for the Northern District of Georgia, Victoria Marie Calvert, awarded a default judgment to the CFPB against USASF, a car loan servicer of loans originated by U.S. Auto Sales Inc., a buy-here,...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

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

Troutman Pepper Locke on

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

Miller Canfield

Michigan Court of Appeals Enforces Arbitration Provision in Auto Lease

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In a rare published decision, the Michigan Court of Appeals enforced a provision in an auto lease that allowed either party to demand arbitration, even though the dealer had assigned the lease to a finance company and no...more

Ballard Spahr LLP

Auto dealer trade groups challenge FTC CARS Rule in Fifth Circuit

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On January 5, 2024, two trade groups representing auto dealers filed a petition for review challenging the Federal Trade Commission’s (“FTC”) new Combating Auto Retail Scams Rule (“CARS Rule”). In the petition, the National...more

Hudson Cook, LLP

CFPB Bites of the Month - December 2023 - I'm Dreaming of a Winter Solstice and the CFPB

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In this month's article, we share some of our top "bites" for the prior month covered during the December 2023 webinar....more

BakerHostetler

FTC Not Kidding that Discrimination Violates Section 5

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We all know that discrimination violates various federal and state laws, but the FTC has been insisting for a while now that it also violates Section 5. A recent joint complaint the agency brought with the State of Wisconsin...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

Junk Fee Supervisory and Enforcement Activity Targets Auto Servicers

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For almost two years, the Consumer Financial Protection Bureau (CFPB) has made combating so-called junk fees an agency priority, bringing multiple enforcement actions, undertaking supervisory activity, and collaborating with...more

Hudson Cook, LLP

Is Different Pricing for Non-Credit Products and Services Illegal Discrimination? Yes, Says the CFPB, Massachusetts, and the FTC

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The Consumer Financial Protection Bureau made news this year when it announced that it considered discrimination to be illegal as an "unfair" practice, including in situations where fair lending laws do not apply. In March,...more

Sheppard Mullin Richter & Hampton LLP

CFPB Blog: Stop Overcharging for Auto Loan Add-on Products

On May 2, the CFPB published a blog post demonstrating its commitment to “a fair, transparent, and competitive auto lending market” by calling attention to add-on products for which auto dealers and finance companies “often...more

Holland & Knight LLP

FTC Approves 5 FCRA Rule Changes

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The Federal Trade Commission (FTC) issued a final rulemaking on Sept. 8, 2021, clarifying that five Fair Credit Reporting Act (FCRA) rules for which it retains rulemaking authority will apply only to motor vehicle dealers....more

Hudson Cook, LLP

State Regulator Pursues Disparate Impact in Auto Finance

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Players in the auto finance industry have been watching the Consumer Financial Protection Bureau ping-pong over the last several years regarding disparate impact theories under the Equal Credit Opportunity Act. The disparate...more

Hudson Cook, LLP

Navigating the Minefields When Offering a Credit Customer the "Lowest Rate"

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Every day, financing providers offer financing to customers. Sometimes they encourage a customer to apply for credit with the dealer by saying that they can offer the customer the best financing deal. Such a claim got a Ford...more

Hudson Cook, LLP

What Does a Biden/Harris Administration Mean for Auto Sales and Finance?

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So, the general consensus is that a Biden/Harris Administration will mean lots of change for automotive finance. But, exactly what types of change and how quickly will that change occur? And, just how bad for the industry...more

Ballard Spahr LLP

FTC settles lawsuit against car dealer alleging discriminatory pricing practices

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The FTC recently announced a settlement of its lawsuit filed in a New York federal district court against a New York City car dealership and its individual general manager in which the FTC alleged that the defendants...more

Hudson Cook, LLP

FinTech Tools for a New World - Lessons Learned (So Far) in a Challenging Environment

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If the current pandemic has taught us anything, it is that we depend on each other for in-person contact more than we thought. This is especially true for unbanked and underbanked consumers seeking financial services....more

Hudson Cook, LLP

Creditors Must Consider Impact of COVID-19 on Administration of Voluntary Protection Products

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In response to the COVID-19 pandemic, creditors across the country continue to strive to balance business continuity challenges and servicing immediate consumer financial needs with public safety. Many creditors have begun...more

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