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Aug 30, 2024 | 
today.westlaw.com | Alan D. Wingfield |Joe Reilly |Brooke Conkle |Chris Capurso
(September 24, 2024) - Alan Wingfield, Joe Reilly, Brooke Conkle and Chris Capurso of Troutman Pepper highlight a New Hampshire law regulating automotive sales and finance companies. Any business involved in motor vehicle installment financing in New Hampshire needs to assess the multiple and significant changes to a key law that have been enacted with immediate effect.
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Jul 9, 2024 | 
insidearm.com | Chris Capurso |Stefanie Jackman |Lori J. Sommerfield |Chris Willis
On July 2, the Consumer Financial Protection Bureau (CFPB or Bureau) published the summer edition of its Supervisory Highlights, focusing on examinations of auto and student loan servicing companies and debt collectors that were completed between April 1, 2023 and December 31, 2023. The report also highlights consumer complaints about medical payment products and identifies concerns with financial institutions freezing deposit accounts.
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Apr 25, 2024 | 
lexblog.com | Brooke Conkle |Chris Capurso |Chris Willis
In this pivotal episode of The Consumer Finance Podcast, host Chris Willis, alongside colleagues Brooke Conkle and Chris Capurso, explores the Consumer Financial Protection Bureau’s (CFPB) groundbreaking proposal for regular and extensive data collection within the auto finance industry. This episode is part of our special series on auto finance, where we unpack the implications of this initiative, rooted in the authority of Section 1022 of the Dodd-Frank Act, for both the industry and consumers.
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Mar 11, 2024 | 
lexblog.com | James Kim |Caleb Rosenberg |Chris Capurso |Taylor Gess
On March 8, Washington State’s legislature passed a significant amendment (SB 6025) to the Consumer Loan Act (CLA) targeting bank model lending. SB 6025 is an updated version of a prior bill, discussed here. The act awaits Governor Jay Inslee’s signature.
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Feb 29, 2024 | 
lexblog.com | Chris Willis |Alan D. Wingfield |Chris Capurso |Brooke Conkle
Comments on the Consumer Financial Protection Bureau’s (CFPB or Bureau) proposal to collect data from auto finance businesses that acquire or originate as few as 500 financing transactions a year are due by March 25, 2024. The CFPB recently published a Notice and Request for Comment in the Federal Register requesting approval from the Office of Management and Budget of its proposed Auto Finance Data Project.
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Feb 26, 2024 | 
lexblog.com | David Anthony |Chris Capurso |Alan D. Wingfield |Ethan G. Ostroff
On February 16, Kentucky state representative Steve Bratcher (R) introduced House Bill (HB) 578. The bill seeks to create a new section of the Kentucky Consumer Protection Act that would restrict how consumer reporting agencies (CRAs) share individual’s information with third parties under specific conditions, mandating explicit consent from the consumer.
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Feb 16, 2024 | 
lexblog.com | Kim Phan |Chris Capurso |Ethan G. Ostroff
On February 13, the Federal Trade Commission (FTC) released a blog post warning companies that it could be deemed an unfair or deceptive practice for a company to adopt more permissive data practices and to only inform consumers of such changes through retroactive amendments to its terms of service or privacy policy.
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Jan 24, 2024 | 
insidearm.com | David Anthony |Chris Capurso |David M. Gettings |Ethan G. Ostroff
On January 11, the Consumer Financial Protection Bureau (CFPB or Bureau) issued two “advisory opinions” addressing the CFPB’s views of the obligations of consumer reporting agencies (CRAs) under the Fair Credit Reporting Act (FCRA). The advisory opinions are interpretive rules issued under the Bureau’s authority to interpret the FCRA pursuant to § 1022(b)(1) of the Consumer Financial Protection Act of 2010.
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Jan 12, 2024 | 
lexblog.com | David Anthony |Chris Capurso |David M. Gettings |Ethan G. Ostroff
On January 11, the Consumer Financial Protection Bureau (CFPB or Bureau) issued two “advisory opinions” addressing the CFPB’s views of the obligations of consumer reporting agencies (CRAs) under the Fair Credit Reporting Act (FCRA). The advisory opinions are interpretive rules issued under the Bureau’s authority to interpret the FCRA pursuant to § 1022(b)(1) of the Consumer Financial Protection Act of 2010.
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Jan 9, 2024 | 
lexblog.com | Chris Capurso |Brooke Conkle |Lori J. Sommerfield |Alan D. Wingfield
The Federal Trade Commission (FTC) and Connecticut Attorney General William Tong filed suit against auto dealer Manchester City Nissan (Manchester City), its owner, and several employees for allegedly deceiving consumers about the price of certified used cars, add-ons, and government fees. Filed January 4, the lawsuit was brought under the FTC Act and the Connecticut Unfair Trade Practices Act.
