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Dodd-Frank Wall Street Reform and Consumer Protection Act Car Dealerships

The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and... more +
The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and includes broad reforms related to many aspects of the financial and banking industry. Notable sections of the Act include stricter regulations of the derivatives market, as well as the Volcker Rule, which restricts the trading practices of FDIC-insured institutions.    less -
Seyfarth Shaw LLP

Fifth Circuit Set to Weigh Challenge to FTC’s CARS Rule - Seyfarth's Future of Automotive Series

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The administrative challenge brought by the National Automobile Dealers Association (NADA) and another trade association against the Combating Auto Retail Scams (“CARS”) Trade Regulation Rule, issued last year by the Federal...more

Wiley Rein LLP

Wiley Consumer Protection Download (December 18, 2023)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Cozen O'Connor

FTC is Riding Shotgun with Potential Car Buyers

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The FTC finalized a new rule intended to protect consumers buying a new car from unlawful and deceptive sales tactics pursuant to its authority under the Dodd-Frank Act to prescribe rules relating to unfair or deceptive...more

Troutman Pepper

No Comment Period Extension on FTC Proposed Motor Vehicle Dealers Trade Regulation Rule

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As we previously posted on June 23, the Federal Trade Commission (FTC or Commission) released a proposed Motor Vehicle Dealers Trade Regulation Rule. This new rule could allow the FTC to regulate dealers exempt from the...more

Holland & Knight LLP

New Rules of the Road: FTC's Proposed Changes to Car, Boat, Motorcycle and RV Sales Practices

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The Federal Trade Commission (FTC) has issued a new proposed rule that aims to make the "motor vehicle"-buying process more clear and competitive, and also allow the FTC to recover money when consumers are misled or charged...more

Hudson Cook, LLP

Is it time to "tune up" your compliance with the Fair Credit Reporting Act ("FCRA")?

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In September 2021, the FTC approved technical changes to five regulations implementing the Fair Credit Reporting Act. Under the Dodd-Frank Act, the CFPB may not exercise any rulemaking, supervisory, enforcement or any...more

Holland & Knight LLP

FTC Approves 5 FCRA Rule Changes

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The Federal Trade Commission (FTC) issued a final rulemaking on Sept. 8, 2021, clarifying that five Fair Credit Reporting Act (FCRA) rules for which it retains rulemaking authority will apply only to motor vehicle dealers....more

Cozen O'Connor

The State AG Report - Volume 7, Issue 22 | June 2021

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Subprime Auto Loan Company Settles Allegations It Turned Blind Eye to Shady Car Dealers - Massachusetts AG Maura Healey reached a settlement with subprime automobile finance company United Auto Credit Corporation (“UACC”) to...more

Hudson Cook, LLP

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

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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

Alston & Bird

FTC Seeks Comment on Proposed Changes to FCRA Rules for Motor Vehicle Dealers

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A&B ABstract: The FTC is seeking public comment on proposed changes to five FCRA rules aimed at clarifying that these rules, as promulgated by the FTC, apply only to motor vehicle dealers, as equivalent rules promulgated by...more

Baker Donelson

Supreme Court Roundup: A Look Back – and Ahead – for Employment Law

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As the Supreme Court ended its 2017-18 Term, Justice Anthony Kennedy announced his resignation; the Court did away with "agency fees" for public employees; and in other decisions favorable to employers, the Court solidified...more

Skadden, Arps, Slate, Meagher & Flom LLP

Employment Flash - April 2018

This edition of Employment Flash looks at recent court decisions, including the U.S. Supreme Court's rulings on cases relating to the definition of a whistleblower and exemptions from the overtime pay provisions. This edition...more

Bradley Arant Boult Cummings LLP

2017 in Review: Three State Enforcement Trends Impacting the Auto Finance Industry

Auto lenders, like many private citizens, began 2017 curious as to what change the impending Trump administration would bring. In the landscape of government enforcement, however, the consensus amongst industry participants...more

Bradley Arant Boult Cummings LLP

CFPB Expands Supervision to Nonbank Auto Finance Companies

The Consumer Financial Protection Bureau (CFPB) has published a rule that expands the CFPB’s supervision to nonbank auto finance companies for the first time. The CFPB currently supervises automobile financing at the largest...more

Manatt, Phelps & Phillips, LLP

Stepping on the Gas: FTC Operation Targets Auto Industry

Why it matters - Continuing its efforts to accelerate enforcement actions against fraudulent practices in the auto industry, the Federal Trade Commission (FTC) recently reported the results of its Operation Ruse Control....more

Manatt, Phelps & Phillips, LLP

CFPB Proposes Expanded Auto Lenders Regulation

The Consumer Financial Protection Bureau’s (CFPB) recent proposal to exercise its authority under the Dodd-Frank Act to supervise large nonbank automobile lenders may have finance companies working to enforce...more

Ballard Spahr LLP

CFPB and Fed announce increases in Regs Z and M 2015 dollar thresholds

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The CFPB and Fed have announced increases in the dollar thresholds in Regulation Z (Truth in Lending Act) and Regulation M (Consumer Leasing Act) for exempt consumer credit and lease transactions. The adjustments reflect the...more

Ballard Spahr LLP

Democratic Senator wants more regulation of auto dealers

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Democratic Senator Edward Markey wants the FTC to take a more active role in policing auto dealer sales practices. Because Dodd-Frank bars the CFPB from directly regulating auto dealers, the CFPB has targeted the fair lending...more

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