News & Analysis as of

Automotive Loans Disclosure Requirements

Mayer Brown

European Commission adopts delegated regulation relating to sustainability disclosures for STS securitisations

Mayer Brown on

On 5 March 2024, the European Commission adopted a delegated regulation that will supplement the EU Securitisation Regulation with regulatory technical standards ("RTS") in relation to simple, transparent and standardised...more

Hudson Cook, LLP

What You Say May Undo What You Do

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The retail installment sales contracts used by auto dealerships include disclosures related to GAP insurance and other debt cancellation products that are required under the federal Truth in Lending Act in order for the...more

Hudson Cook, LLP

AFSA Extra Credit Podcast: Auto Remote Sales Compliance

Hudson Cook, LLP on

The Federal Trade Commission's Cooling-Off Rule has been around since 1972 (it became effective in 1974), but generally has been a non-issue for dealers until the Coronavirus pandemic when dealers were forced to conduct...more

Ballard Spahr LLP

NY enacts new disclosure requirements for use of auto “kill switches”

Ballard Spahr LLP on

New York has enacted legislation that requires creditors to provide new disclosures when using devices to remotely disable vehicles, commonly referred to as “kill switches.”  The new law took effect immediately upon its...more

Ballard Spahr LLP

CFPB enters into consent order with small-dollar lender to settle alleged TILA and UDAAP violations arising from finance charge...

Ballard Spahr LLP on

The CFPB announced last week that it has entered into a consent order with Triton Management Group, Inc., a small-dollar lender, to settle the CFPB’s allegations that Triton had violated the Truth in Lending Act and the...more

Ballard Spahr LLP

New York City adopts new requirements for used car dealers

Ballard Spahr LLP on

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

New York City proposes new disclosure requirements for used car dealers

Ballard Spahr LLP on

The New York City Department of Consumer Affairs (DCA) has proposed new rules for used car dealers that would require dealers to provide the following disclosures to buyers...more

Ballard Spahr LLP

CFPB enters into consent order with auto title lender

Ballard Spahr LLP on

The CFPB announced that it has entered into a consent order with TMX Finance, LLC to settle allegations that the company did not provide sufficient information to consumers about the terms of auto title loans, pawns or...more

Ballard Spahr LLP

FTC Consent Order Creates Uncertainty for Advertising of Credit, Lease Offers

Ballard Spahr LLP on

A recent Federal Trade Commission (FTC) consent order with two Ohio auto dealers creates uncertainty not only for auto dealers, but also for all other businesses advertising credit or lease offers. The order settled...more

Burr & Forman

Dodd-Frank News: November 2015: Dodd-Frank Wall Street Reform and Consumer Protection Act Update

Burr & Forman on

The Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted as a measure to promote financial stability and protection for consumers through increased regulation of nearly every aspect of the consumer finance...more

Stinson LLP

CFPB Takes Action Against Second Indirect Auto Finance Company in Three Days

Stinson LLP on

On October 1, 2015, the Consumer Financial Protection Bureau (CFPB) announced its second enforcement action in three days against an indirect auto finance company. In its latest action, the CFPB took aim at indirect auto...more

Manatt, Phelps & Phillips, LLP

Regulators Keep Their Feet on the Gas in Actions Against Auto Lenders; NY AG Latest to Bring Suit

Why it matters - The automotive industry is continuing to face heavy scrutiny from regulators. On the heels of a Federal Trade Commission operation and new oversight from the Consumer Financial Protection Bureau, the...more

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