Automotive Finance Regulation: Warning Lights Flashing
8 Pages Posted: 17 Apr 2015
Date Written: April 15, 2015
Abstract
As part of the Annual Survey of the American Bar Association, this article surveys the most important federal and state regulatory developments affecting automotive finance over the last year, among them (1) a fair lending consent order among the CFPB, the Department of Justice, and Ally financial entities; (2) a consent order between the Federal Trade Commission and Consumer Portfolio Services, Inc.; and (3) a preliminary injunction granted to the New York Superintendent of Financial Services against Condor Capital Corporation.
Keywords: automotive finance regulation; Consumer Financial Protection Bureau; Equal Credit Opportunity Act; Reg B; disparate impact; Ally consent order; Department of Justice; Federal Trade Commission; Consumer Portfolio Services; Condor Capital Corporation
JEL Classification: G28, K2, K23, K42
Suggested Citation: Suggested Citation