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Consumer Lenders › Car Dealerships › Enforcement Actions

Troutman Pepper Locke

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

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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

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

Goodwin

Massachusetts AG Enters Into $7.6 Million Settlement With Auto Dealer

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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

Sheppard Mullin Richter & Hampton LLP

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

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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

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

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

Goodwin

CFPB Continues Stated Intention to Target Large Non-Bank Auto Lenders

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In December 2015, the CFPB took action against non-bank auto lender CarHop. In so doing, the CFPB continued to carry out its stated intention of expanding its regulatory oversight to large non-bank auto lenders. ...more

Dorsey & Whitney LLP

Why Does the CFPB Want to Curb Auto Lenders’ Discretion to Charge Higher or Lower Interest Rates?

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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

Goodwin

Add-On Products Continue To Present Litigation Risks For Lenders

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The Consumer Financial Protection Bureau’s recent action against two credit card vendors regarding credit monitoring and identity theft protection services is a reminder of the legal risks associated with certain add-on...more

Ballard Spahr LLP

‘Operation Ruse Control’ Announcement Highlights Importance of Auto Finance Compliance

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The Federal Trade Commission—and numerous other federal, state, and local law enforcement agencies in the United States and Canada—recently announced that an enforcement initiative dubbed “Operation Ruse Control” has resulted...more

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