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Automotive Industry › Car Dealerships › Financing

Fox Rothschild LLP

Federal Court Will Hear Auto Dealers Challenge to New FTC Regulations

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On Oct. 7, the 5th Circuit Court of Appeals will hear arguments in a case that could significantly reshape how auto dealerships operate. The National Automobile Dealers Association is arguing that the Federal Trade...more

Ballard Spahr LLP

Update on Petition to Review FTC’s CARS Rule

Ballard Spahr LLP on

Petitioners in the challenge to the Federal Trade Commission’s (“FTC”) Combating Auto Retail Scams Rule (“CARS Rule”) filed their Petitioners’ Brief on March 15, 2004 in support of their petition for review, and a who’s who...more

Morgan Lewis

FTC’s Final ‘Cars Rule’ on Dealer Sales Practices: Implications for Banks, Auto Finance, and ‘captives’

Morgan Lewis on

The Federal Trade Commission recently issued a final rule that is squarely aimed at changing the way dealers interact with customers in the financing process. The final rule takes effect on July 30, 2024....more

Ballard Spahr LLP

FTC issues final CARS Rule setting new requirements on vehicle sales

Ballard Spahr LLP on

On December 12, 2024, the Federal Trade Commission (“FTC”) announced its Combating Auto Retail Scams Rule, otherwise known as the “CARS Rule,” setting new requirements on the sale, financing, and leasing of vehicles by motor...more

Ballard Spahr LLP

FTC sends 2016 ECOA report to CFPB

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The FTC has sent its annual letter to the CFPB reporting on the FTC’s activities related to compliance with the Equal Credit Opportunity Act and Regulation B. The FTC has authority to enforce the ECOA and Reg B as to...more

McNees Wallace & Nurick LLC

Supreme Court Slams The Brakes On Challenge To Disparate Act

McNees Wallace & Nurick LLC on

As of now, the Equal Credit Opportunity Act (ECOA) prohibits dealers from unintentional, or “disparate impact,” discrimination in setting dealer reserves in auto financing. This disparate impact can result from policies or...more

The Volkov Law Group

CFPB Targets Auto Financing For Enforcement

The Volkov Law Group on

The Consumer Finance Protection Bureau continues to spread its wings in the enforcement arena. It is an agency born and confined in political controversy. ...more

Ballard Spahr LLP

How the CFPB’s stance on ECOA in auto finance will raise consumer prices

Ballard Spahr LLP on

Ever since the CFPB’s release of its bulletin relating to disparate impact analysis of dealer rate participation last week, the press and consumer advocacy groups have been buzzing about the Bureau’s stance and its potential...more

Ballard Spahr LLP

CFPB Issues Guidance on Indirect Auto Lending ECOA Compliance

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The Consumer Financial Protection Bureau has issued guidance on fair lending compliance for indirect auto lenders. The guidance targets the practice of “dealer markups.” This practice involves an auto dealer charging the...more

Ballard Spahr LLP

The CFPB previews its coming auto finance fair lending enforcement actions

Ballard Spahr LLP on

Earlier today, the CFPB released its guidance bulletin with respect to automobile indirect finance fair lending issues. The bulletin’s intent is unmistakably clear from the accompanying press release’s tag line: “CONSUMER...more

Ballard Spahr LLP

So this is what the CFPB means about leveling the playing field?

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My colleague, Chris Willis, posted his reaction to CFPB Bulletin 2013-02, which provides guidance as to how the CFPB will apply ECOA and Reg B to dealer rate participation in the auto finance business. Except for Chris’...more

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