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The CFPB issues bulletin on indirect auto lending and compliance with the Equal Credit Opportunity Act

  • Debevoise & Plimpton LLP
  • -
  • USA
  • -
  • March 27 2013

On March 21, 2013, the Consumer Financial Protection Bureau ("CFPB") issued Bulletin 2013-02 (the "Bulletin") warning indirect auto lenders of the

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CFPB fair lending guidance for indirect auto lenders it's not just about cars

  • Morrison & Foerster LLP
  • -
  • USA
  • -
  • June 4 2013

Several weeks ago, the Consumer Financial Protection Bureau ("CFPB") issued a fair lending guidance bulletin ("Bulletin") directed at financial

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CFPB takes aim at indirect auto lenders for violation of fair lending law

  • Jorden Burt LLP
  • -
  • USA
  • -
  • May 2 2013

May 2, 2013 -- The auto dealer industry fought hard for their exemption from the provisions of Dodd-Frank. But that exemption does not extend to

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CFPB issues bulletin on indirect auto lending and fair lending

  • Winston & Strawn LLP
  • -
  • USA
  • -
  • March 27 2013

On Thursday, March 21, the Consumer Financial Protection Bureau (the CFPB) issued a bulletin 1 to provide guidance on the applicability of fair

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CFPB & indirect auto lending the saga continues

  • Dorsey & Whitney LLP
  • -
  • USA
  • -
  • November 19 2013

The Consumer Financial Protection Bureau ("CFPB") has weighed in heavily on the controversy regarding the CFPB's application of fair lending laws

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ECOA redux: CFPB targeting indirect auto lenders for alleged discriminatory practices by dealers

  • Dykema Gossett PLLC
  • -
  • USA
  • -
  • March 21 2013

Today (March 21, 2013), the CFPB released a bulletin warning indirect auto lenders that that the Bureau intends to "pursue" -- under the federal

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CFPB announces plans to hold auto lenders liable for discriminatory loans

  • Loeb & Loeb LLP
  • -
  • USA
  • -
  • April 3 2013

The Consumer Financial Protection Bureau issued a guidance bulletin announcing that it will treat indirect auto lenders as creditors subject to the

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Commercial financial services brief: CFPB bulletin provides warning to indirect lenders and auto dealers

  • Gray Plant Mooty
  • -
  • USA
  • -
  • March 25 2013

On March 21st the Consumer Financial Protection Bureau (CFPB) issued CFPB Bulletin 2013-02 as a reminder to lenders engaged in indirect lending about

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Discretionary pricing in auto lending and the CFPB (oh no!)

  • Locke Lord LLP
  • -
  • USA
  • -
  • April 2 2013

Recently, the Consumer Financial Protection Bureau (the CFPB) issued Bulletin 2013-02 titled "Indirect Auto Lending and Compliance with the Equal

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CFPB, DOJ announce first joint fair lending action against indirect auto finance company

  • BuckleySandler LLP
  • -
  • USA
  • -
  • December 21 2013

This morning, the CFPB and the DOJ announced their first ever joint fair lending enforcement action to resolve allegations that an auto finance

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CFPB tackles discrimination in auto lending

  • Sidley Austin LLP
  • -
  • USA
  • -
  • May 10 2013

The Consumer Financial Protection Bureau (CFPB) recently issued guidance stating that it intends to use its regulatory tools, including enforcement

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Report on CFPB’s auto finance forum

  • BuckleySandler LLP
  • -
  • USA
  • -
  • November 14 2013

This morning, the CFPB hosted an auto finance forum, which featured remarks from CFPB staff and other federal regulators, consumer advocates, and

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CFPB offers more details on plans to supervise auto finance market

  • BuckleySandler LLP
  • -
  • USA
  • -
  • September 18 2014

On September 17, the CFPB released new information about its plans to supervise and enforce auto finance companies' compliance with consumer

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Consumer finance update: CFPB issues proposal to supervise nonbank auto finance companies

  • Dentons
  • -
  • USA
  • -
  • September 22 2014

The US Consumer Financial Protection Bureau (CFPB) continues its efforts to expand its supervisory authority. On September 17, 2014, the CFPB issued

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Auto lender to pay $98 million to resolve discriminatory lending action

  • Manatt Phelps & Phillips LLP
  • -
  • USA
  • -
  • January 17 2014

In the first joint fair lending action in the indirect auto lending context by the Consumer Financial Protection Bureau and the Department of Justice

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

  • Ballard Spahr LLP
  • -
  • USA
  • -
  • March 27 2013

Ever since the CFPB's release of its bulletin relating to disparate impact analysis of dealer rate participation last week, the press and consumer

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Indirect auto lending carries fair lending risk

  • Frost Brown Todd LLC
  • -
  • USA
  • -
  • April 9 2013

A recent guidance published by the Consumer Financial Protection Bureau is a helpful reminder of one of the risks associated with indirect auto

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The CFPB eyes supervisory regulation over large auto-lenders

  • Neal Gerber & Eisenberg LLP
  • -
  • USA
  • -
  • June 24 2014

Large auto-lenders may soon have to contend with a new regulator. In its most recent semi-annual report, the Consumer Financial Protection Bureau

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CFPB issues guidance on indirect auto lending ECOA compliance

  • Ballard Spahr LLP
  • -
  • USA
  • -
  • March 22 2013

The Consumer Financial Protection Bureau has issued guidance on fair lending compliance for indirect auto lenders. The guidance targets the practice

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CFPB and DOJ announce first auto lending discrimination settlement

  • Sidley Austin LLP
  • -
  • USA
  • -
  • January 3 2014

On December 20, 2013, the Consumer Financial Protection Bureau ("CFPB") and U.S. Department of Justice ("DOJ") announced a settlement with Ally

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The CFPB previews its coming auto finance fair lending enforcement actions

  • Ballard Spahr LLP
  • -
  • USA
  • -
  • March 21 2013

Earlier today, the CFPB released its guidance bulletin with respect to automobile indirect finance fair lending issues. The bulletin's intent is

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Justice Department and CFPB announce $98 million settlement of auto lending discrimination allegation

  • Loeb & Loeb LLP
  • -
  • USA
  • -
  • January 10 2014

The U.S. Department of Justice and the Consumer Financial Protection Bureau recently announced a $98 million settlement - the largest auto loan

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CFPB weekly update September 22, 2014

  • Arnall Golden Gregory LLP
  • -
  • USA
  • -
  • September 22 2014

On September 17th, the CFPB announced that it sued the Hydra Group, an online payday lender, for alleged deceptive practices as well as alleged

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CFPB report recaps fair lending activities

  • BuckleySandler LLP
  • -
  • USA
  • -
  • May 2 2014

On April 30, the CFPB published its second annual report to Congress on its fair lending activities. According to the report, in 2013 federal

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CFPB proposes auto finance larger participant rule, releases fair lending supervisory report and proxy methodology

  • Debevoise & Plimpton LLP
  • -
  • USA
  • -
  • September 22 2014

On September 17, 2014, the Consumer Financial Protection Bureau (the "CFPB" or "Bureau") proposed a regulation to define "larger participants in a

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CFPB responds to inquiry by members of Congress on indirect auto lending guidance

  • BuckleySandler LLP
  • -
  • USA
  • -
  • August 14 2013

On August 2, the CFPB responded to a letter submitted by 35 Republican members of Congress who are concerned about the fair lending guidance the CFPB

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Senators challenge CFPB on indirect auto finance guidance

  • BuckleySandler LLP
  • -
  • USA
  • -
  • October 31 2013

On October 30, a bipartisan group of 22 Senators sent a letter to the CFPB raising concerns about CFPB guidance affecting the indirect auto financing

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The Consumer Financial Protection Bureau (CFPB), recent developments: July 22, 2013 August 9, 2013

  • Greenberg Traurig LLP
  • -
  • USA
  • -
  • August 22 2013

On July 23, 2013, the CFPB filed a complaint in the United States District Court of Utah against Castle & Cooke Mortgage LLC, as well as two of its

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The Consumer Financial Protection Bureau investigates auto financing discrimination

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • March 8 2013

In 2010, as part of the Dodd Frank Wall Street Reform and Consumer Protection Act, Congress created the Consumer Financial Protection Bureau (CFPB)

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CFPB presents annual Fair Lending Report to Congress

  • Dykema Gossett PLLC
  • -
  • USA
  • -
  • May 9 2014

On April 30, the Consumer Financial Protection Bureau (the CFPB) presented its annual Fair Lending Report to Congress. The Fair Lending Report

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CFPB to pursue auto lenders for illegal discriminatory markups

  • Stinson Leonard Street LLP
  • -
  • USA
  • -
  • March 24 2013

The CFPB has released a bulletin explaining its belief that certain lenders that offer auto loans through dealerships are responsible for unlawful

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CFPB: auto finance industry, step into the ring

  • Sirote & Permutt PC
  • -
  • USA
  • -
  • September 30 2014

Everyone loves watching a good boxing match, but being in the ring is a different story. When the Dodd-Frank Act was initially passed by Congress in

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The Consumer Financial Protection Bureau (CFPB), recent developments: December 16, 2013 December 20, 2013

  • Greenberg Traurig LLP
  • -
  • USA
  • -
  • December 27 2013

On December 16th, the CFPB's Enforcement Division filed a lawsuit against an online loan servicer in federal district court in Massachusetts

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Financial services report, summer 2013

  • Morrison & Foerster LLP
  • -
  • USA
  • -
  • June 5 2013

In Kilgore v. Keybank, N.A., the Ninth Circuit was poised to decide whether the Supreme Court’s Concepcion decision vitiates California’s “public”

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The Consumer Financial Protection Bureau (CFPB), recent developments: November 4, 2013 November 8, 2013

  • Greenberg Traurig LLP
  • -
  • USA
  • -
  • November 14 2013

CFPB Responds to Senators' Letter On November 4th, the CFPB responded to a letter from a bipartisan group of 22 Senators that asked the CFPB to

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House Financial Services Chairman presses CFPB on auto finance enforcement

  • BuckleySandler LLP
  • -
  • USA
  • -
  • March 3 2014

House Financial Services Committee Chairman Jeb Hensarling (R-TX) sent a letter today to CFPB Director Richard Cordray once again pressing the CFPB

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CFPB pursuing ECOA claims against auto lenders based on dealer conduct

  • Seyfarth Shaw LLP
  • -
  • USA
  • -
  • February 27 2013

Continuing its efforts to attempt to force lenders to police third parties over whom it has no jurisdiction, the Consumer Financial Protection Bureau

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Division of banks issues guidance on indirect auto lending

  • Nutter McClennen & Fish LLP
  • -
  • USA
  • -
  • May 31 2013

The Division of Banks issued a statement on April 29 recommending that Massachusetts depository institutions engaged in indirect auto lending follow

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The CFPB & UDAAP: a “know it when you see it” standard?

  • Morrison & Foerster LLP
  • -
  • USA
  • -
  • June 9 2014

Institutions regulated by the Consumer Financial Protection Bureau (CFPB) and subject to its enforcement authority are dealing with of the agency's

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CFPB Director testifies before Senate Banking Committee

  • BuckleySandler LLP
  • -
  • USA
  • -
  • November 14 2013

On November 12, CFPB Director Richard Cordray testified before the Senate Banking Committee in connection with the CFPB's recent Semi-Annual Report

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CFPB proposes expanded auto lenders regulation

  • Manatt Phelps & Phillips LLP
  • -
  • USA
  • -
  • October 9 2014

The Consumer Financial Protection Bureau's (CFPB) recent proposal to exercise its authority under the Dodd-Frank Act to supervise large nonbank

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The Consumer Financial Protection Bureau (CFPB), recent developments: April 21, 2014 - May 2, 2014

  • Greenberg Traurig LLP
  • -
  • USA
  • -
  • May 7 2014

On April 30th, the CFPB issued a proposed rule that would make minor adjustments to the CFPB’s mortgage rules that were originally issued in 2013 and

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CFPB, DOJ announce largest auto loan discrimination settlement in history

  • Drinker Biddle & Reath LLP
  • -
  • USA
  • -
  • December 23 2013

On December 20, 2013, the Consumer Financial Protection Bureau (CFPB) and the Department of Justice (DOJ) announced that the federal government has

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Lessons learned from the first public CFPB enforcement action

  • Dentons
  • -
  • USA
  • -
  • August 13 2012

Charging unfair, deceptive, or abusive acts or practices ("UDAAP") in its first public enforcement action, the Consumer Financial Protection Bureau ("CFPB") issued a Consent Order to Capital One Bank (USA), N.A. (the "Bank") on July 17, 2012 for allegedly "deceptive acts or practices" in connection with the marketing, sales and operation of payment protection and credit monitoring products to credit card consumers (the "CFPB Consent Order").

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The Consumer Financial Protection Bureau: its foundation, authorities, and first year of enforcement

  • Gibson Dunn & Crutcher LLP
  • -
  • USA
  • -
  • June 5 2013

Since the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act, (Dodd-Frank Act), Gibson Dunn has been monitoring regulatory

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HUD sets uniform standard for evaluating discriminatory effect claims

  • Frost Brown Todd LLC
  • -
  • USA
  • -
  • March 22 2013

Last month, the Department of Housing and Urban Development ("HUD") issued a formal rule relating to housing discrimination that went into effect

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CFPB weekly update April 14, 2014

  • Arnall Golden Gregory LLP
  • -
  • USA
  • -
  • April 14 2014

Add-on Products: On April 9th, the CFPB ordered Bank of America, N.A. And FIA Card Services, N.A. To pay a $20 million civil penalty as well as

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The Consumer Financial Protection Bureau (CFPB), recent developments: July 21, 2014 - August 15, 2014

  • Greenberg Traurig LLP
  • -
  • USA
  • -
  • August 20 2014

In July, the CFPB issued another "snapshot" of the consumer complaints it has received through June 30, 2014. The CFPB has received almost 400,000

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New risks for indirect lenders

  • Foley & Lardner LLP
  • -
  • USA
  • -
  • April 22 2013

Last month the Consumer Financial Protection Bureau announced that it will start holding banks accountable for the discriminatory actions of indirect

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Fair lending 2012 - significant risk management agenda items

  • Pillsbury Winthrop Shaw Pittman LLP
  • -
  • USA
  • -
  • May 30 2012

In the first few months of 2012, lenders were cautiously optimistic that a recent Supreme Court case and a case pending before the Supreme Court would result in a victory for the financial services industry by severely limiting the use of a "disparate impact" analysis in the fair lending arena.

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