After three months with no response, Attorney General Eric T. Schneiderman has filed a motion to force a New York dealer group to comply with a subpoena issued by the AG’s office in March. The dealer group is accused of “jamming” credit repair contracts into vehicle sales and leases.
June 9, 2015
The House passed an amendment Wednesday that would bar the Department of Justice from using funds for litigation in which the regulator seeks to apply the disparate impact theory.
June 4, 2015
More than 50 members of Congress have signed a letter urging the CFPB to issue new rules to eliminate the use of forced arbitration clauses in consumer financial service contracts.
May 28, 2015
The enforcement division of the Texas DMV has closed its case against CarGurus after the vehicle-shopping site made revisions to its used-car advertisements. In April, the department threatened enforcement actions because of the way the site listed used vehicles for sale.
May 12, 2015
The Texas Department of Motor Vehicles Enforcement Division has pulled back on its plan to fine dealers with listings on CarGurus.com after the department and the shopping site discussed revisions to CarGurus’ advertising practices in a call yesterday.
May 1, 2015
Last week, the Texas Department of Motor Vehicles Enforcement Division issued a cease-and-desist letter to CarGurus and the state’s dealer association, threatening dealers with fines up to $10,000 a day if the shopping site does not revise its advertising practices.
April 30, 2015
The NIADA, its newly-formed BHPH Commission and Oregon’s independent dealer association are tackling legislation the industry believes could damage the ability of high-risk consumers to purchase cars in the state.
April 8, 2015
The New York City Department of Consumer Affairs announced a new car loan initiative this month, which would direct subprime car buyers away from dealership financing to loans provided directly by banks and credit unions.
April 2, 2015
SMART Payment Plan was ordered to wind down its business in Texas for operating without the proper state license since 2009. The biweekly payment provider can reapply for the license in 12 months.
March 26, 2015
CFPB Director Richard Cordray fielded questions about dealer compliance programs and a recent study calling out the bureau’s methods for determining discrimination during a semi-annual report to Congress earlier this month.
March 17, 2015
The lead provider calls Bellavia Blatt & Crossett’s mass action suit challenging its business practices “meritless.”
March 11, 2015
The law firm of Bellavia Blatt & Crossett has filed a mass action lawsuit against TrueCar, claiming that the lead provider’s business practices constitute false advertising.
March 10, 2015
Consumer Portfolio Services CEO Charles Bradley laid out the lender’s compliance efforts during a quarterly earnings call last week. The finance source’s subprime lending activities are currently being investigated by Department of Justice.
February 24, 2015
Penske Automotive Group realized a 16% increase in revenue and a 14% bump in adjusted income from continuing operations in 2014’s fourth quarter. The dealer group’s CEO also discussed its plan to pilot the NADA’s fair credit compliance program at four stores.
February 12, 2015
The website, called “Tesla Crash,” was launched by the Connecticut Automotive Retailers Association in response to a bill that would allow the electric automaker to sell directly to consumers in the state.
February 10, 2015