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March 8, 2018

Auto Lands at No. 2 on N.Y. Attorney General’s Complaint List

The regulator who has championed New York’s crackdown on payment packing released his office’s Top 10 list of complaints received in 2017. Auto was 1,965 complaints short of the No. 1 complaint category: the internet.

February 22, 2018

Military Lending Act's December Update More Harmful Than First Thought

A Hudson Cook attorney told industry trade groups in a Jan. 18 memo that the Defense Department’s Dec. 14 interpretative rule, combined with something else it did in July 2015, makes it ‘highly unlikely that any dealer or finance source will be willing to originate or purchase’ a vehicle finance transaction if credit-protection products are included.

February 13, 2018

BB&T Switches Back to Markups as CFPB Shifts Away From Enforcement

BB&T announced its move about a week after the CFPB’s acting director stripped enforcement powers from the division responsible for pursuing discrimination cases in the auto finance arena. BB&T will officially make the switch on March 14.

February 9, 2018

The Right Approach to Adverse Action Notices

Compliance expert gets into the weeds on adverse actions. He explains why you must send a notice to every affected customer, and breaks down your choice of processes.

February 9, 2018

Prioritizing Entity Vitals

Real-life examples prove that failing to meet federal, state, and local requirements for licensing and permits can cause otherwise successful dealerships to lose their right to do business and, in the most extreme cases, their very names.

February 6, 2018

Resolution Needed

The editor shares some insider information regarding the industry’s efforts to get the Defense Department to reconsider last month’s interpretive rule regarding the sale of GAP and credit insurance to military consumers.

January 31, 2018

Appeals Court Rules CFPB Structure Is Constitutional

On Wednesday, the D.C. Court of Appeals ruled 7-3 that a provision in the Dodd-Frank Act that says the CFPB director can only be removed for cause does not unconstitutionally constrain the president.

January 30, 2018

Hudson Cook Partners Elected Fellows of American College of Consumer Financial Services

The two partners, Lucy Morris and Ryan Stinneford, join 12 other Hudson Cook attorneys who have been named ACCFSL fellows.

January 25, 2018

FTC Approves Consent Order in Texas Dealer’s Deceptive Advertising Case

The approval settles the FTC's December 2017 complaint against Dallas-based Cowboy Toyota regarding its Spanish-language newspaper ads. The regulator charged the dealership with violations of the FTC Act, TILA and the Consumer Leasing Act.

January 23, 2018

Darwin Updates F&I Platform to Address Military Lending Act Rules

Darwin today announced a new update to its F&I sales platform designed to address the interpretive rule the Defense Department issued last month under the MLA.