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Regulatory Oversight Consumer Lenders Automotive Loans

Troutman Pepper Locke

Shifting Gears: Adapting to Regulatory Changes in Auto Finance — 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 discuss what dealerships and auto finance companies should prioritize amidst...more

Sheppard Mullin Richter & Hampton LLP

CFPB to Monitor Lenders During Expected Increase in Auto Loan Debt

On February 24, the CFPB posted a blog citing that the recent increase in car prices will result in both the total amount of debt and the average loan size to continue to increase, which will put increased pressure on some...more

Ballard Spahr LLP

New York City adopts new requirements for used car dealers

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The New York City Department of Consumer Affairs (DCA) has adopted new rules for used car dealers, requiring all licensed dealers to make additional disclosures to consumers and creating a new consumer bill of rights for the...more

Ballard Spahr LLP

Plaintiffs in industry lawsuit challenging CFPB payday loan rule move for reconsideration

Ballard Spahr LLP on

We have previously blogged about the industry challenge to the CFPB’s rule on payday/vehicle title/high rate installment loans.  ...more

Ballard Spahr LLP

OCC small-dollar lending bulletin: one step forward but one step back?

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The OCC has issued a bulletin (2018-14) setting forth core lending principles and policies and practices for short-term, small-dollar installment lending by national banks, federal savings banks, and federal branches and...more

Ballard Spahr LLP

Deadline expires for CRA resolution to override CFPB payday lending rule

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The 60-day period during which the Senate could pass a resolution under the Congressional Review Act disapproving the CFPB’s final payday/auto title/high-rate installment loan rule (Payday Rule) with only a simple majority...more

Ballard Spahr LLP

Senator Graham introduces CRA resolution to overturn CFPB payday loan rule; Mulvaney to testify on April 11 to House Financial...

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The American Banker has reported that last week, Senator Lindsey Graham introduced a joint resolution under the Congressional Review Act (CRA) to override the CFPB’s final payday/auto title/high-rate installment loan rule...more

Burr & Forman

CFPB Update: January 2018

Burr & Forman on

The Consumer Financial Protection Bureau (“CFPB” or “Bureau”) is a U.S. government agency created by the Dodd-Frank Wall Street Reform and Consumer Protection Act. The CFPB is the first federal agency tasked solely with the...more

Ballard Spahr LLP

Overturning the CFPB’s final payday loan rule by reopening rulemaking or CRA resolution

Ballard Spahr LLP on

On December 1, 2018, three Democrat and three Republican members of the House of Representatives introduced a joint resolution under the Congressional Review Act (H.J. Res. 122) to override the CFPB’s final payday/auto...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

CFTC Comparability Determination on EU Margin Requirements and a Common Approach on Trading Venues - On October 13, 2017, the U.S. Commodity Futures Trading Commission ("CFTC") announced determinations by the CFTC and the...more

Ballard Spahr LLP

GAO determination that leveraged lending guidance is subject to CRA could foreshadow similar fate for CFPB indirect auto finance...

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In May 2017, we blogged about press reports that the Government Accountability Office (GAO) had accepted a request from Senator Patrick Toomey for a determination concerning whether the CFPB Bulletin 2013-02, titled “Indirect...more

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