The Next TCPA Battle

The Telephone Consumer Protection Act of 1991 (TCPA) was a well-intentioned and early attempt to limit the number of telemarketing calls consumers receive. Among other things, it restricts telephone solicitations (i.e., telemarketing) and the use of so-called “autodialers.” Over the years, it’s been a challenge to determine what equipment is an autodialer and what isn’t. […]
  • Michael Benoit & Michael Goodman
  • May 25, 2018
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FTC’s Top 10 Tips for Stronger Data Security Practices

Establishing a reliable online presence for businesses is critical in today’s digital-savvy world, and when it comes to lenders building trust in the online marketplace — it remains a challenging yet crucial component. Data breaches do not necessarily show that a company failed to have reasonable security measures, as there is no such thing as […]
  • Nicole Casperson
  • May 23, 2018
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Industry Awaits Clarification on Military Lending Act

As Memorial Day approaches and the nation remembers those who have died in active service, lenders continue to grapple with how to finance ancillary products for active-duty servicemembers. Earlier this year, the Department of Defense issued a bulletin announcing that the Military Lending Act now applies to the financing of ancillary products, which requires originators to […]
  • Emma Sandler
  • May 16, 2018
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Marketing Add-on Warranty Products Draw FTC Scrutiny

In April, the Federal Trade Commission (FTC) sent warning letters to six major companies – including ASUS, HTC, Hyundai, Microsoft, Nintendo, and Sony – that market and sell motor vehicles, cellular devices, and video game systems.  According to the FTC, the six companies have potentially violated the FTC Act and the Magnuson-Moss Warranty Act (Warranty […]
  • Chad Fuller
  • May 16, 2018
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A Renewed Call for an FHA for Auto Financing

Last year was a record low year for deep-subprime lending. This, despite the fact that overall auto finance originations climbed more than 5%. In other words, even though auto finance expanded overall, auto finance for the deep-subprime sector did not. To put it another way, the lending expansion stopped short at Ficos of 500 or […]
  • JJ Hornblass
  • April 27, 2018
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What the FTC Says Should Be on the Auto Industry’s Radar [PODCAST]

With lingering uncertainty over what will become of the CFPB and unconfirmed appointees to the Federal Trade Commission, lenders’ compliance obligations are in flux. In this episode of The Roadmap, Dama Brown, Southwest regional director of the FTC, clears up confusion about collection practices and the Fair Debt Collection Practices Act, as well as valuable […]
  • Emma Sandler
  • March 29, 2018
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It’s a New Day for the CFPB

What a difference a day — or a couple of months — makes! The Consumer Financial Protection Bureau issued its five-year strategic plan in February, and boy does it paint a picture of a kinder, gentler CFPB. Well, maybe neither kind nor gentle, but I’ll settle for an agency interested in all of its stakeholders. […]
  • Michael Benoit
  • March 22, 2018
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Indirect Auto Lending: GAO Opinion Provides Clarity, But Will It Be Enforced?

A recent finding by the U.S. Government Accountability Office (GAO) could have a significant impact on the indirect auto lending industry. In December, the GAO issued an opinion declaring that a Consumer Financial Protection Bureau bulletin issued on March 21, 2013, titled “Indirect Auto Lending and Compliance with the Equal Credit Opportunity Act was a […]
  • Alexander Koskey
  • March 6, 2018
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Examining the Defense Department’s Revised Military Lending Act

If you are in the auto finance business, you cannot possibly have missed the drama percolating around the Department of Defense’s (DoD’s) new interpretation of its own regulation’s purchase-money vehicle finance exclusion, which says transactions with GAP, credit insurance, or other credit-related ancillary products are not within said exclusion. Rather, those products are “consumer credit” […]
  • Michael Benoit
  • February 19, 2018
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