Articles

Compliance Insider: Is the CFPB Over?

Compliance Insider: Is the CFPB Over?

Judging by the direction of the stock market and the financial trade press, Nov. 9 brought great relief to business in general, and to financial services providers particularly. Conventional wisdom is that regulation will decrease, both in content and in fervor of enforcement. Some predict that the Consumer Financial ProtectionRead More

One for the Record Books

One for the Record Books

It is hard to avoid gaping at the performance of the auto industry in 2016. “Wow” just doesn’t seem to do justice to the record sales year. The 17.6 million new cars sold last year did not just top the 2015 total. Yes, analysts had projected another record year inRead More

Sharing Secrets — Roadblocks to Creating a Dealer Fraud Detection Network

Sharing Secrets — Roadblocks to Creating a Dealer Fraud Detection Network

With dealer fraud reaching “higher than normal” levels for Pelican Auto Finance LLC, the subprime lender has been looking to develop a lender network to share dealer fraud insights, said Troy Cavallaro, the company’s chief executive. However, the company has been “unable to move the needle” on the project dueRead More

Compliance Insider: Due Process? Really?

Compliance Insider: Due Process? Really?

On Oct. 11, the U.S. Court of Appeals for the District of Columbia Circuit held that the Consumer Financial Protection Bureau’s structure is unconstitutional. In PHH Corp. v. CFPB, the appellate court found that the director of the bureau “enjoys more unilateral authority than any other officer in any ofRead More

The CFPB’s Regulation of the Auto Finance Industry is Legally and Ethically Wrong [OPINION]

The CFPB’s Regulation of the Auto Finance Industry is Legally and Ethically Wrong [OPINION]

As the Chair of my firm’s Auto Finance Team, a multidisciplinary team of attorneys serving the auto finance industry, I’ve heard my share of complaints about the CFPB’s newfound focus on auto finance companies, banks, and non-bank entities that serve the auto finance sector. In the course of my discussionsRead More

New Autonomous Vehicle Laws in Michigan Are ‘Thrilling’ for Industry, Expert Says

New Autonomous Vehicle Laws in Michigan Are ‘Thrilling’ for Industry, Expert Says

The legislation around driverless cars (or the absence of it) is one of the main concerns among manufacturers and software companies that operate in the field. But the newest set of bills – signed into law by Michigan Governor Rick Snyder last week – are set to change that. StartingRead More

PolySync to Democratise Autonomous Research with Open Source Platform

PolySync to Democratise Autonomous Research with Open Source Platform

In the tech world, open-source software is an increasingly popular model for developers to share and learn through collaboration, and thus drive innovation. Not so much in the auto world. But a Portland, Ore.-based software startup is set to change that. PolySync, which develops next generation software for autonomous cars,Read More