News & Analysis as of

Motor Vehicles Repossess

Hudson Cook, LLP

Illinois Requires Repossession Agents to Clear Personal Data from Vehicles

Hudson Cook, LLP on

A new Illinois data privacy law specifically tailored to motor vehicle-secured financing transactions becomes effective on January 1, 2024, and is likely to lead to similar laws in other states. ...more

Ballard Spahr LLP

Pennsylvania federal district court rules alleged violation of state’s Motor Vehicle Sales Finance Act creates claim under Uniform...

Ballard Spahr LLP on

A Pennsylvania federal district court has ruled that the plaintiffs’ allegations that notices of repossession sent by a bank failed to comply with the state’s Motor Vehicle Sales Finance Act (MVFSA) were sufficient to state...more

Alston & Bird

CFPB Issues Bulletin About Auto Repossession, Congressional Republicans Respond

Alston & Bird on

A&B Abstract: The Consumer Financial Protection Bureau (“CFPB” or the “Bureau”) recently released a Bulletin addressing the repossession of vehicles and alerting market participants to what it views as those market...more

Bradley Arant Boult Cummings LLP

Of Cars and Dwellings: Supreme Court of Wisconsin Expands the Meaning of “Dwelling,” Jeopardizing Vehicle Repossessions in the...

As the new year turns the page, the Supreme Court of Wisconsin, in Duncan v. Asset Recovery Specialists, Inc., held that a repo agency violated the Wisconsin Consumer Act by repossessing a vehicle parked in the borrower’s...more

McGlinchey Stafford

Post-Repossession: Can A Borrower ‘Cure’ A Default And Get Their Car Back?

McGlinchey Stafford on

Coming out of the COVID-19 pandemic, the auto finance industry will face a number of issues when it comes to self-help repossession following a borrower’s default. A number of jurisdictions across the country have put...more

McGlinchey Stafford

An Auto Repossession Avalanche Is Coming: Are You ready?

McGlinchey Stafford on

The impact of the COVID-19 pandemic on the U.S. economy is momentous. As businesses across the country shut down to comply with stay-at-home orders, workers have been laid off at a record pace. With unprecedented unemployment...more

K&L Gates LLP

"Fair Market Value" Does Not Mean "Fair Market Retail Value": The Impact of Williams and Dellorusso on Repossession in...

K&L Gates LLP on

Under the Massachusetts Motor Vehicle Retail Installment Sales Act (RISA), creditors repossessing automobiles are entitled to recover a deficiency from debtors, so long as the creditors deduct the “fair market value” of the...more

McGlinchey Stafford

Repossessions during the COVID-19 pandemic

McGlinchey Stafford on

During normal times, creditors face a number of requirements when looking to exercise their self-help repossession rights in the event of a borrower’s default. Some of the factors a creditor must normally consider are...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

Auto-finance companies agree to pay nearly $800,000 to settle Justice Department allegations regarding SCRA auto repossession...

Ballard Spahr LLP on

The United States Department of Justice announced last week that Westlake Services LLC and its subsidiary, Wilshire Consumer Capital LLC, have agreed to pay $760,788 to resolve allegations the companies violated the...more

Ballard Spahr LLP

CFPB Orders Indirect Auto Finance and Title Loan Companies to Pay $48.35 Million in Redress and Penalties For Abusive Debt...

Ballard Spahr LLP on

The CFPB has entered into a consent order with Westlake Services, LLC, an indirect auto finance company, and its wholly owned subsidiary, Wilshire Consumer Credit, LLC, for alleged deceptive debt collection practices. The...more

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