Last week, the Consumer Financial Protection Bureau (CFPB) announced four appointments to its leadership team.
In addition to naming Anthony Alexis as assistant director of enforcement, the CFPB also announced the hiring of Leandra English as deputy chief operating officer, Agnes Bundy Scanlan as the regional director of supervision examination, and Jeffrey Sumberg as chief
On January 5, the Federal Communications Commission announced that it was creating a new complaint portal. As shown on the FCC form for complaints, which can be found here (Word format) and here (.pdf), this portal is very much designed to capture complaints arising from the Telephone Consumer Protection Act (TCPA) and, specifically, automatic telephone
Law360 is reporting that another subprime auto lender, the Nevada-based Consumer Portfolio Services, Inc., has disclosed in an SEC filing that it received a civil investigative subpoena from the Department of Justice. As we’ve previously reported, both federal and state regulators recently have increased their scrutiny of subprime auto lending.
This is not the first
On January 21, the U.S. Supreme Court held oral argument in Texas Department of Housing and Community Affairs v. The Inclusive Communities Project, Inc., a case in which, as we previously reported here and here, the Petitioner has challenged the applicability of a so-called “disparate impact” theory of liability under the Fair Housing
Automotive sales and finance companies often are sued in California under either the Auto Sales Finance Act (“ASFA”) or the Vehicle Leasing Act (“VLA”). Occasionally, these cases raise claims involving sizeable actual damages, but more often than not, they rest on purely technical disclosure violations or other violations that produced little or no actual or
Last month, the Government Accountability Office (GAO) released its annual report on financial services regulations entitled “Dodd-Frank Regulations: Regulators’ Analytical and Coordination Efforts.”
According to this report, federal financial regulators— Consumer Financial Protection Bureau, Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, National Credit
A settlement between the New York Department of Financial Services and automotive lender Condor Capital Corp., as well as Condor’s owner, Stephen Barron, was approved this week by the United States District Court for the Southern District of New York. The settlement will result in total payments to the State and consumers of up to
By all accounts, 2014 was a particularly busy one for the Federal Trade Commission in taking enforcement actions in the automobile sales and financing industry. The FTC’s last public action of 2014 in the auto finance and sales area involved a suburban Dallas dealer, charged with using deceptive ads to promote the sale and lease
On December 12, 2014, an Illinois federal judge found Dish Network LLC liable for participating in millions of unwanted telemarketing sales calls, where Dish Network could be subject to penalties exceeding $1 billion. Specifically, the District Court for the Central District of Illinois issued an opinion in United States of America v. Dish Network LLC
The FTC announced this week that it was bringing claims against two auto dealership chains alleging that they had violated the terms of two 2012 administrative orders prohibiting the dealerships from misrepresenting financing and lease terms in their advertising.
First, the FTC sued the Billion Auto dealerships – a chain of 20 dealerships in Iowa,