On December 3, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a proposed rule for public comment aimed at amending Regulation V, which implements the Fair Credit Reporting Act (FCRA). The proposed rule seeks to redefine (and, in some cases, rewrite) key terms and provisions within the FCRA, particularly focusing on the activities of purported “data brokers.”
In this episode, Brooke Conkle and Chris Capurso, attorneys in the firm’s Consumer Financial Services practice, are joined by Partner Ethan Ostroff to discuss the recent Supreme Court of California decision in Rodriguez vs. FCA US. They explore recent cases from the court that impact auto finance, this case’s background, the court’s reasoning, and the significant impact this ruling may have on manufacturers, dealers, and auto finance companies. The discussion also touches on the broader implications for consumer protection laws in California and the potential shift in legal strategies for both plaintiffs and defendants in the auto finance industry.
Late last year, we discussed the Federal Communications Commission’s (FCC) new rule aimed at closing the “lead generator” loophole by requiring telemarketers to obtain one-to-one consent from consumers for robocalls and robotexts. This rule mandates that consent must be provided for each individual seller or brand, rather than allowing a single consent to apply to multiple telemarketers. The rule also includes requirements for clear and conspicuous disclosures and ensures that robocalls and robotexts are logically and topically related to the interaction that prompted the consent. The new rule also permits blocking “red flagged” robotexting numbers, codifies do-not-call rules for texting, and encourages an opt-in approach for delivering email-to-text messages.
In this special joint episode of The Consumer Finance Podcast and Moving the Metal, Chris Willis teams up with Brooke Conkle and Chris Capurso, hosts of the Moving the Metal podcast, to discuss the CFPB’s recent supervisory highlights on auto-finance and auto-servicing. Joined by Stefanie Jackman, a partner experienced in auto-finance servicing and collections, the team delves into the CFPB’s findings on issues ranging from repossessions and servicing practices to optional products and credit reporting. They explore the implications of these findings and provide insights into the regulatory landscape, emphasizing the importance of compliance and timely remediation. Tune in for an in-depth analysis of the CFPB’s focus areas and what they mean for the auto-finance industry.
In this special joint episode of The Consumer Finance Podcast and Moving the Metal, Chris Willis teams up with Brooke Conkle and Chris Capurso, hosts of the Moving the Metal podcast, to discuss the CFPB’s recent supervisory highlights on auto-finance and auto-servicing. Joined by Stefanie Jackman, a partner experienced in auto-finance servicing and collections, the team delves into the CFPB’s findings on issues ranging from repossessions and servicing practices to optional products and credit reporting. They explore the implications of these findings and provide insights into the regulatory landscape, emphasizing the importance of compliance and timely remediation. Tune in for an in-depth analysis of the CFPB’s focus areas and what they mean for the auto-finance industry.
In this episode of Moving the Metal, Chris and Brooke break down recent amendments to the New Hampshire Retail Installment Sales Act. On August 2, New Hampshire Governor Chris Sununu signed HB 1243 into law, bringing significant, retroactive revisions to Chapter 361(a) of the New Hampshire Code. Tune in to understand how these legislative updates from one of the smallest states in the union could challenge your business operations and consumer interactions in the Granite State.
In this podcast episode, Brooke Conkle and Chris Capurso are joined by esteemed senior practitioner Alan Wingfield to discuss the National Automobile Dealer Association’s (NADA) challenge to the Federal Trade Commission’s (FTC) CARS Rule. The conversation centers around the recent oral arguments held by the Fifth Circuit on October 9, involving both the NADA and the Texas Automobile Dealers Association (TADA). The discussion aims to provide insights into the origins and implications of the CARS Rule, as well as the legal arguments presented by the dealer associations in their challenge and the FTC in defense.
On October 4, the Consumer Financial Protection Bureau (CFPB) and the Federal Reserve Board (Fed) announced increased dollar thresholds used to determine whether certain consumer credit and lease transactions in 2025 are exempt from Regulation Z (Truth in Lending) and Regulation M (Consumer Leasing).
The Federal Communications Commission (FCC) has announced new effective dates for amendments to rules under the Telephone Consumer Protection Act (TCPA) aimed at strengthening consumer protections against robocalls and robotexts. These amendments, published on March 5, 2024, will take effect on April 11, 2025.
On October 7, the Consumer Financial Protection Bureau (CFPB or Bureau) published the Fall edition of its Supervisory Highlights, focusing on examinations of the auto-finance market completed between November 1, 2023, and August 30, 2024. The report highlights significant findings across various aspects of consumers’ experiences with vehicle finance, including origination disclosures, repossession activities, servicing practices, the handling of add-on products, and credit reporting.