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Consumer Financial Protection Bureau (CFPB) Consumer Lenders Automotive Loans

Venable LLP

CFPB Reviewing Automobile Financing Larger Participant Rule

Venable LLP on

The Consumer Financial Protection Bureau (CFPB) is inviting comment on whether the 2015 larger participant rule for automobile financing remains the right measure of market significance. Comments are due September 22, 2025....more

Holland & Knight LLP

CFPB Seeks Comments on Increased Larger Market Participant Thresholds in 4 Key Markets

Holland & Knight LLP on

The CFPB published four advanced notices for proposed rulemaking in the Federal Register on Aug. 8, 2025. Each notice seeks comment from experts within the automobile financing, international money transfer, consumer...more

Orrick, Herrington & Sutcliffe LLP

CFPB seeks withdrawal from auto finance suit

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

Troutman Pepper Locke

Shifting Gears: Adapting to Regulatory Changes in Auto Finance — Moving the Metal: The Auto Finance Podcast

Troutman Pepper Locke on

In this episode of Moving the Metal, Brooke Conkle and Chris Capurso from Troutman Pepper Locke’s Consumer Financial Services Practice Group discuss what dealerships and auto finance companies should prioritize amidst...more

Troutman Pepper Locke

CFPB Releases Report Highlighting Auto Lending Challenges for Servicemembers

Troutman Pepper Locke on

On January 29, the Consumer Financial Protection Bureau (CFPB or Bureau) released a report analyzing the auto lending market’s impact on servicemembers. ...more

Troutman Pepper Locke

CFPB Releases Report on Auto Repossessions

Troutman Pepper Locke on

As discussed here, in February 2023, the Consumer Financial Protection Bureau (CFPB or Bureau) launched the auto finance data pilot and issued nine market monitoring orders to three banks, three finance companies, and three...more

Troutman Pepper Locke

CFPB's Supervisory Highlights on Auto-Finance and Auto-Servicing — Moving the Metal: The Auto Finance Podcast

Troutman Pepper Locke on

In this special joint episode of The Consumer Finance Podcast and Moving the Metal, Chris Willis teams up with Brooke Conkle and Chris Capurso, hosts of the Moving the Metal podcast, to discuss the CFPB’s recent supervisory...more

Troutman Pepper Locke

CFPB’s Supervisory Highlights on Auto-Finance and Auto-Servicing — The Consumer Finance Podcast

Troutman Pepper Locke on

In this special joint episode of The Consumer Finance Podcast and Moving the Metal, Chris Willis teams up with Brooke Conkle and Chris Capurso, hosts of the Moving the Metal podcast, to discuss the CFPB’s recent supervisory...more

Nutter McClennen & Fish LLP

Nutter Bank Report: October 2024

The CFPB has approved a final rule that requires banks and certain other financial services providers to share a consumer’s personal financial data with another provider at the consumer’s request. The CFPB’s Personal...more

Sheppard Mullin Richter & Hampton LLP

CFPB Supervisory Highlights Target Auto Finance Missteps

On October 7, the CFPB announced the release of a special edition of its Supervisory Highlights, focused on the agency’s most recent findings in auto financing. The CFPB’s Supervisory Highlights cover select examinations...more

Ballard Spahr LLP

Consumer groups show support of CFPB’s Auto Finance Data Pilot and urge the Bureau to expand its data collection

Ballard Spahr LLP on

In February 2023, the Consumer Financial Protection Bureau (“CFPB” or the “Bureau”) announced an auto finance data pilot, where it ordered nine large auto lenders to provide information about their auto lending portfolios....more

Sheppard Mullin Richter & Hampton LLP

New Hampshire Updates Motor Vehicle Retail Installment Act: What Lenders Need to Know

On August 2, New Hampshire passed House Bill 1243 (the “Bill”), which substantially amends its Motor Vehicle Retail Installment Sales Act (the “Act”). The Bill is effective as of August 2....more

Troutman Pepper Locke

Loans, Retail Installment Contracts, and Refinancing Programs — Moving the Metal: The Auto Finance Podcast

Troutman Pepper Locke on

In this episode, Brooke Conkle and Chris Capurso delve into the topic of refinancing and its impacts on the auto finance industry. They are joined by special guest Jason Cover, who provides insights and education on retail...more

Troutman Pepper Locke

The CFPB’s Report on Negative Equity in Auto Lending - Moving the Metal: The Auto Finance Podcast

Troutman Pepper Locke on

In this episode of Moving the Metal, Troutman Pepper attorneys Brooke Conkle and Chris Capurso discuss the Consumer Financial Protection Bureau’s (CFPB) new report on negative equity in auto lending. This report, the first of...more

Goodwin

CFPB Enters Into Consent Order with Bank Resolving Allegations of Force-Placed-Insurance

Goodwin on

On July 9, 2024, the Consumer Financial Protection Bureau (CFPB) announced that it entered into a consent order with a national bank, resolving allegations related to the bank’s auto lending practices....more

Troutman Pepper Locke

Auto Finance – CFPB Circular Release — The Consumer Finance Podcast

Troutman Pepper Locke on

In this special episode, Brooke Conkle and Chris Capurso discuss a recently released circular from the Consumer Financial Protection Bureau (CFPB) on consumer contracts. They are joined by special guest Caleb Rosenberg, who...more

Troutman Pepper Locke

Auto Finance – The CFPB Complaints Report — The Consumer Finance Podcast

Troutman Pepper Locke on

Troutman Pepper attorneys Brooke Conkle and Chris Capurso helm this episode to discuss the Consumer Financial Protection Bureau's (CFPB) recent annual report on consumer complaints for 2023. Although the report primarily...more

Troutman Pepper Locke

CFPB Annual Report Sees Continued Increase in Consumer Reporting Complaints and Complaints Involving Fraudulent Activity, Student...

Troutman Pepper Locke on

On March 29, the Consumer Financial Protection Bureau (CFPB or Bureau) released its Consumer Response Annual Report, providing a high-level overview of the 1,657,600 consumer complaints received by the Bureau from January 1...more

Ballard Spahr LLP

Military Lending Act violations alleged against title lender in Georgia class action

Ballard Spahr LLP on

A proposed class action lawsuit filed in the U.S. District Court for the Northern District of Georgia on February 21, 2024 against TitleMax of Georgia, Inc. and TMX Finance LLC (together, “TitleMax”) accuses the Georgia-based...more

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: The CARS Rule: What You Need To Know About the Federal Trade Commission’s Final Motor...

Ballard Spahr LLP on

Our special guest is Richard (“Rick”) Hackett, former Assistant CFPB Director responsible for auto finance regulation and presently a member of the Board of F&I Sentinel, which supports lender compliance in the auto finance...more

Goodwin

2023 Year in Review: Auto Loan Origination and Servicing

Goodwin on

Welcome to the Auto Loan Origination and Servicing chapter of our annual report Consumer Financial Services 2023 Year in Review. Looking Ahead to 2024 - We anticipate that the CFPB will continue its attempts to combat...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

Troutman Pepper Locke

9 Consumer Finance Issues to Note From CFPB Report

Troutman Pepper Locke on

In July, the Consumer Financial Protection Bureau published a report highlighting various unfair, deceptive, and abusive acts or practices it claims to have uncovered during its supervisory examinations from July 2022 to...more

Hudson Cook, LLP

CFPB Takes Action Against Indirect Auto Lender for Alleged Illegal Scheme Impacting Borrowers.

Hudson Cook, LLP on

On November 20, 2023, the CFPB imposed a $60 million penalty on an indirect auto lender for allegedly hindering borrowers from cancelling product bundles, elevating their monthly car loan payments. The Company is also alleged...more

Goodwin

CFPB Issues New Supervisory Highlights Report

Goodwin on

​​​​​​​On July 26, 2023, the Consumer Financial Protection Bureau (CFPB) released a Supervisory Highlights report covering findings from its examinations completed between July 2022 and March 2023 (the Report), which found,...more

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