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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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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 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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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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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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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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Department of Justice announces settlement to resolve discriminatory indirect lending allegations

Sullivan & Cromwell LLP | USA | May 12 2015

On May 7, 2015, the Department of Justice (“DOJ”) announced that it had reached a settlement with Evergreen Bank Group of Oak Brook, Illinois

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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 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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Uncovering discriminatory lending practices with the information found in a phone book

Berger Singerman LLP | USA | October 22 2014

Early on in its existence, the Consumer Financial Protection Bureau ("CFPB") made the elimination of discriminatory lending practices one of its

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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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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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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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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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The Consumer Financial Protection Bureau investigates auto financing discrimination

Locke Lord 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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The CFPB 2015 forecast: continued cloudiness, thunderstorms likely

Morrison & Foerster LLP | USA | January 23 2015

This will be a busy year at the Consumer Financial Protection Bureau (CFPB), and that certainly means it will be a busy year for financial

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CFPB takes enforcement action against “buy-here, pay-here” auto dealer for alleged unfair collection and credit reporting tactics

BuckleySandler LLP | USA | November 20 2014

On November 19, the CFPB announced an enforcement action against a 'buy-here, pay-here' auto dealer alleging unfair debt collection practices and the

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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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Webinar recap: the CFPB’s expanding oversight of auto finance, part I

BuckleySandler LLP | USA | October 24 2014

On October 1, 2014, BuckleySandler hosted a webinar, The CFPB's Expanding Oversight of Auto Finance, Part One. Through an examination of the Consumer

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

Morrison & Foerster LLP | USA | January 22 2015

The Consumer Financial Protection Bureau’s (CFPB) continued and expanded reliance on its sweeping authority to prohibit unfair, deceptive, and

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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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CFPB 2014 in reviewand what’s ahead for 2015

Paul Hastings LLP | USA | January 20 2015

2014 was a defining year for the Consumer Financial Protection Bureau (“CFPB” or “Bureau”). The Bureau solidified its jurisdiction of the 19

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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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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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Non-agency residential mortgage loans in 2014: a survey of legal issues affecting the market

Alston & Bird LLP | USA | February 8 2015

The year 2014 was a landmark for the non-agency residential mortgage market, as a large amount of regulatory uncertainly was lifted. Final rules were

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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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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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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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