Strengthening Compliance: Lessons From the OCC's Consent Order With Patriot Bank — Payments Pros – The Payments Law Podcast
Launching a Product Too Soon? Lessons From Recent CFPB Orders — The Consumer Finance Podcast
Navigating CFPB Enforcement: Key Takeaways From the Global Tel Link Consent Order — Payments Pros – The Payments Law Podcast
Will Resiliency Carry the Digital Asset Sector Through 2024: Federal Legislative Developments and OFAC Consent Orders — The Crypto Exchange Podcast
Takeaways for Banks from the CFPB’s Recent Consent Order on Garnishment Orders
On May 12, the CFPB terminated a consent order against a credit financing arm of a large motor vehicle company for violations related to the CFPA and FCRA. ...more
The Alabama Department of Environmental Management (“ADEM”) and Honda Development & Manufacturing of America, LLC DBA Alabama Auto Plant (“Honda”) entered into a Consent Order (“CO”) addressing alleged violations of the...more
In March, 2025, the California Privacy Protection Agency announced a consent order with an auto manufacturer alleging multiple violations of the California Consumer Privacy Act and imposing a $632,500 fine for alleged failure...more
In this article, we share a timeline of our monthly "bites" for 2022 applicable to the auto finance industry. So, what happened in 2022?...more
The Alabama Department of Environmental Management (“ADEM”) and Plasman Corp LLC (“PLASMAN”) entered in a May 7th Consent Order addressing alleged violations of certain hazardous waste regulations found in ADEM-Admin. Code...more
On March 9, 2020, the Massachusetts attorney general’s office (Massachusetts AG) announced ?that it had entered into a consent judgment with a national used car company resolving allegations that the company’s local...more
On December 27, 2018, the Massachusetts Attorney General’s Office (AG) announced? that it had entered into a consent order with an auto lender, resolving allegations that the lender violated the Massachusetts Cost of Consumer...more
A recent Federal Trade Commission (FTC) consent order with two Ohio auto dealers creates uncertainty not only for auto dealers, but also for all other businesses advertising credit or lease offers. The order settled...more
CFPB Takes Action Against Servicemember Auto Lender Security National Automotive Acceptance Company - On October 28, 2015, the Consumer Financial Protection Bureau (CFPB) filed an administrative order against Security...more
The CFPB has entered into a consent order with Westlake Services, LLC, an indirect auto finance company, and its wholly owned subsidiary, Wilshire Consumer Credit, LLC, for alleged deceptive debt collection practices. The...more
On September 28, 2015, the Consumer Financial Protection Bureau (CFPB) announced two separate actions against Fifth Third Bank. The first action—brought only by the CFPB—relates to Fifth Third Bank’s marketing of credit card...more
On July 14, 2015, the Consumer Financial Protection Bureau (“CFPB”) and Department of Justice (“DOJ”) announced they had reached a “groundbreaking settlement” with American Honda Finance Corporation (“Honda”).(1) The...more
In 2014, NHTSA collected a record setting amount of civil penalties. For 2015, NHTSA may be on pace to exceed last year’s record. On July 26, 2015, NHTSA announced a $105 million civil penalty against FCA US LLC, the former...more
Just over 18 months after bringing a disparate impact-based ECOA case against Ally Financial (“Ally”) for discriminatory auto loan pricing, the CFPB has struck again—this time taking action against American Honda Finance...more
In recent years, the National Highway Traffic Safety Administration (NHTSA) has received increased public and Congressional scrutiny stemming from high-profile safety defects, such as the Toyota unintended-acceleration issues...more
As is well known by now, TK Holdings Inc. – Takata – has entered a Consent Order with the National Highway Traffic Safety Administration (“NHTSA”). The details and latest information on the Takata recall can be found online...more
A settlement has been announced in the lawsuit filed by Benjamin Lawsky, the Superintendent of the New York Department of Financial Services, using his Dodd-Frank Section 1042 authority. Section 1042 allows state attorneys...more
Yesterday, the CFPB announced a consent order with First Investors Financial Services Group, Inc., an auto finance company that both makes loans to consumers and purchases retail installment sale contracts from auto dealers....more
The CFPB obtained a consent order from an auto finance company that allegedly distorted consumer credit records for years. The auto finance company, which according to the CFPB lends primarily to subprime borrowers, allegedly...more