News & Analysis as of

Car Dealerships Consumer Lenders

Cadwalader, Wickersham & Taft LLP

UK Supreme Court Delivers Landmark Ruling in the Motor Finance Commissions Litigation

On 1 August 2025, the UK Supreme Court delivered its much anticipated judgment on the appeal  from the Court of Appeal’s decision in the UK motor finance commission litigation — being the joined cases of Johnson v. FirstRand...more

Akin Gump Strauss Hauer & Feld LLP

After the Supreme Court Judgement – What’s Next for Motor Finance Claims in the UK?

The types of consumer credit arrangements at issue in all of the relevant motor finance cases are “three-cornered” transactions. Motor dealers would offer a car for sale, which a member of the public would then see and wish...more

Latham & Watkins LLP

UK Supreme Court Hands Down Combined Judgment Affecting Consumer Finance Sector

Latham & Watkins LLP on

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

Troutman Pepper Locke

NY AG Reaches $3.2M in Settlements With 8 New York Nissan Dealerships

Troutman Pepper Locke on

New York Attorney General (AG) Letitia James’ office has reached a cumulative total of $3.2 million in settlements with eight Nissan dealerships that the office accuses of overcharging New Yorkers for purchasing leased...more

Hudson Cook, LLP

When Is a Sale Final? Not Always as Early as You'd Like It to Be

Hudson Cook, LLP on

One of the first things I learned in my first-year contracts class in law school was the Uniform Commercial Code. Specifically, the class covered Article 2 of the UCC, which governs sales of goods, including motor vehicles. ...more

Troutman Pepper Locke

Breaking Granite: Understanding New Amendments to the New Hampshire Retail Installment Sales Act — Moving the Metal: The Auto...

Troutman Pepper Locke on

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

Hudson Cook, LLP

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

Hudson Cook, LLP on

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

BakerHostetler on

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

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

Hudson Cook, LLP

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

Hudson Cook, LLP on

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

Hudson Cook, LLP

State Regulator Pursues Disparate Impact in Auto Finance

Hudson Cook, LLP on

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

Cozen O'Connor

Subprime Auto Loan Company Settles Allegations It Turned Blind Eye To Shady Car Dealers

Cozen O'Connor on

Massachusetts AG Maura Healey reached a settlement with subprime automobile finance company United Auto Credit Corporation (“UACC”) to resolve allegations that it facilitated the sale of defective vehicles and forced some...more

Hudson Cook, LLP

CFPB, The Roadmap Forward - Part Three

Hudson Cook, LLP on

Part Three: Risk Reward Will Always be Part of the Subprime Future - We resume our conversation where we left off on Part Two with a question citing the Taskforce report with recommendations for improved financial...more

Hudson Cook, LLP

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

Hudson Cook, LLP on

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 You Say May Undo What You Do

Hudson Cook, LLP on

The retail installment sales contracts used by auto dealerships include disclosures related to GAP insurance and other debt cancellation products that are required under the federal Truth in Lending Act in order for the...more

Hudson Cook, LLP

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

Hudson Cook, LLP on

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

McDermott Will & Schulte

Automotive Finance Update – The Digital Point of Sale

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

Ballard Spahr LLP

DOJ Settles ECOA Claims Against Used Maryland Car Dealership

Ballard Spahr LLP on

The Department of Justice recently announced that it had settled a lawsuit filed in 2019 that alleged a Maryland used car dealership discriminated against African Americans in violation of the Equal Credit Opportunity Act by...more

Ballard Spahr LLP

FTC settles lawsuit against car dealer alleging discriminatory pricing practices

Ballard Spahr LLP on

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

Goodwin

Massachusetts AG Announces Settlement with Used Car Dealership for Alleged Deceptive Sales Practices

Goodwin on

On November 19, 2019, the Massachusetts Attorney General’s Office (AG) announced that it had settled its investigation into a used car dealership’s allegedly unfair and deceptive sales practices in violation of the...more

Hudson Cook, LLP

Old Whine in a New Bottle

Hudson Cook, LLP on

Two recent events got me thinking. The first was a new car purchase. Finally persuaded that the newer cars had safety features that were truly life-saving and accident-reducing, my wife and I opted to replace the old bus...more

Bradley Arant Boult Cummings LLP

Data Modeling Remains Auto Finance Target in CFPB’s Fair Lending Governance

The Consumer Financial Protection Bureau made it clear that it will continue to target auto finance lenders as one of its top supervisory and enforcement priorities in the Fair Lending Report of the Bureau of Consumer...more

White & Case LLP

Consumer financial services: The road ahead: Auto finance

White & Case LLP on

In 2018, the CFPB continued to pay attention to the auto finance industry, with a particular focus on indirect (dealer-arranged) auto lenders and unfair or abusive loan servicing practices....more

Ballard Spahr LLP

FTC sends 2018 annual ECOA report to CFPB

Ballard Spahr LLP on

The FTC has sent its annual letter to the CFPB reporting on the FTC’s activities related to compliance with the Equal Credit Opportunity Act and Regulation B. ...more

47 Results
 / 
View per page
Page: of 2

"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:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide