Troutman Pepper attorneys Brooke Conkle and Chris Capurso helm this episode to discuss the Consumer Financial Protection Bureau’s (CFPB) recent annual report on consumer complaints for 2023. Although the report primarily focuses on consumer reporting, it includes an auto-finance section for those involved in auto loans and leases. Out of 1.6 million total complaints only 17,000 to 18,000 were directed toward auto finance-related issues; however, Brooke and Chris highlight some key takeaways. The bottom line: The CFPB pursues auto finance actions, and the most effective way to gain insight into the Bureau’s thinking is to examine the issues highlighted in the complaint report and ensure your processes are properly prepared.

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. As the auto finance sector experiences significant growth amid rising prices and rates, we shed light on the CFPB’s strategy to enhance market monitoring and ensure transparency. Join us as we explore the potential impacts of this development, the reactions from major auto finance companies, and what this means for the future of consumer financial services. Don’t miss this insightful discussion that navigates the complexities of regulatory changes and their effects on the auto finance landscape.

Please join Consumer Financial Services Partner Chris Willis and his guest and colleague Tony Kaye as they discuss the recently enacted California Senate Bill 1311 or Military and Veteran Consumer Protection Act of 2022. Effective January 1, 2023, the new bill — drawn up by the California attorney general’s office — intends to enhance consumer protections for military service members, directly affecting the Military Lending Act’s exception for loans to purchase motor vehicles and other personal property.

Please join Consumer Financial Services Partner Chris Willis and his colleagues Stefanie Jackman and Chris Carlson as they discuss the recent action by the Massachusetts attorney general (AG) involving automobile dealer pricing discrimination. After a Massachusetts-based automobile dealer allegedly engaged in discriminatory pricing toward Black and Hispanic automobile customers via additional charges for “add-on” products, the AG’s office acted. Listen as Chris, Stefanie, and Chris dive deeper into the case and what it could mean for automobile dealers in the future.

Please join Troutman Pepper Partner Chris Willis and his guests and colleagues Alan Wingfield and Brooke Conkle as they discuss the Federal Trade Commission’s (FTC) recent Notice of Proposed Rulemaking governing voluntary products in automobile finance transactions. During the podcast, they examine the requirements imposed on both advertising practices and the sales process and what it means for the automotive industry.

Following up its settlement with two automotive dealers in September 2013, the Federal Trade Commission (FTC) has continued its nationwide targeting of misrepresentations made in print, Internet and video advertisements that relate to the sale, financing and leasing of motor vehicles. The FTC alleged that these dealers’ advertisements falsely led consumers to believe they could