Article

CFPB

September 2017, Auto Dealer Today - Feature

Oink, Oink

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By Thomas B. Hudson, Esq.

Can damages exist without evidence? Hudson retells the story of a New Jersey dealer who stood up to charges of concealing a salvage title - and won.

Tags: CFPB, Lawsuit, Legal, training

July 2017, Auto Dealer Today - Feature

The Coming Crackdown on Dealer Fraud

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By Thomas B. Hudson, Esq.

Statewide sweeps should convince dealers to clear the flim-flam artists from your F&I department.

Tags: CFPB, fraud, powerbooking

February 2017, Auto Dealer Today - Feature

CFPB Still Needs Schooling on Credit Sales

Photo: IStockPhoto.com/Brauns

By Thomas B. Hudson, Esq.

The Consumer Financial Protection Bureau is taking baby steps toward financial literacy, but it remains far from the head of the class.

Tags: CFPB, Credit, retail installment contracts

December 2016, Auto Dealer Today - Feature

Physician, Heal Thyself

By Thomas B. Hudson, Esq.

The CFPB’s inability to master the basic vocabulary of automotive finance does a disservice to the consumers whose interests it is charged with protecting.

Tags: Auto Loans, CFPB, Finance, Law, Regulations

November 2016, Auto Dealer Today - Feature

Paranoia or Real Danger?

By Thomas B. Hudson, Esq.

The CFPB really is following you, and every mistake you make in the showroom and in your advertising can lead to an enforcement action.

Tags: advertising, CFPB, Legal, showroom

October 2016, Auto Dealer Today - Feature

Here Comes the Fuzz

By Thomas B. Hudson, Esq.

The CFPB has elected to forgo the rulemaking process and rely on enforcement to hammer businesses in the name of consumer protection.

Tags: CFPB, consumer protection, Regulations

June 2016, Auto Dealer Today - Feature

Road Weary

David Gesualdo

By David Gesualdo

The publisher returns from a long road trip with regulatory compliance on his mind.

Tags: CFPB, compliance, Regulations

June 2016, Auto Dealer Today - Feature

Look Within

By Thomas B. Hudson, Esq.

If you’re wondering where all those pesky rules and regulations come from, look no further than the dealer down the street.

Tags: CFPB, Legal, Regulations

April 2016, Auto Dealer Today - Feature

Strange Adversaries

By Thomas B. Hudson, Esq.

The CFPB has found an unexpected foe in Eric Schneiderman, an activist attorney general who believes arbitration is ‘efficient and effective.’

Tags: CFPB, legal training, lemon law

March 2016, Auto Dealer Today - Feature

Low-Hanging Fruit

By Thomas B. Hudson, Esq.

Countless examples prove that dealer advertising is an easy target for regulators.

Tags: CFPB, Deceptive Advertising, FTC, Regulators

March 2016, Auto Dealer Today - Feature

Here Come the Readability Police

By Nicole Munro

The Texas Plain Language Law will mandate that auto finance contracts be written at an 11th-grade reading level by 2017.

Tags: auto finance, CFPB, contracts, legal training

October 2015, Auto Dealer Today - Feature

Defeating Class Actions the Old-Fashioned Way

By Thomas B. Hudson, Esq.

If the CFPB has its way, pre-dispute arbitration agreements will no longer protect dealers from class-action lawsuits.

Tags: CFPB, court, lawsuits, Legal

October 2015, Auto Dealer Today - Feature

Attention All Data Furnishers

By Richard Hudson

Any entity that feeds a consumer reporting agency is considered a ‘data furnisher’ by the CFPB and must be aware of three credit reporting factors that can’t be overlooked.

Tags: CFPB, Credit Report, Legal

September 2015, Auto Dealer Today - Feature

No Guidance

David Gesualdo

By David Gesualdo

Self-governance by providers may be the best way to protect the sale of F&I products.

Tags: CFPB, P&A Leadership Conference

June 2015, Auto Dealer Today - Feature

Pinocchio and the Senator

Thomas B. Hudson

By Thomas B. Hudson, Esq.

The Washington Post’s Glenn Kessler calls enterprising Massachusetts Sen. Elizabeth Warren out for repeating a popular myth about auto finance, regulatory oversight and dealer participation.

Tags: CFPB, dealer financing, Regulations

June 2015, Auto Dealer Today - Feature

Fair-Weather Foes

ADM Publisher David Gesualdo

By David Gesualdo

The so-called consumer advocates who are bullying dealers were nowhere to be found when times were tough.

Tags: CFPB, dealer financing, NADA

May 2015, Auto Dealer Today - Feature

A Biased Report

Thomas B. Hudson

By Thomas B. Hudson, Esq.

There is much to dislike about the CFPB’s 728-page report on pre-dispute arbitration clauses.

Tags: arbitration agreements, CFPB, Dodd-Frank Act

April 2015, Auto Dealer Today - Feature

Look Who Emailed Me!

An invitation to join the CFPB’s Company Portal should not be ignored, and some dealers may choose to sign up preemptively. 

By Thomas B. Hudson, Esq.

An invitation to join the CFPB’s Company Portal should not be ignored, and some dealers may choose to sign up preemptively.

Tags: CFPB, consumer complaints, Email, Legal

February 2015, Auto Dealer Today - Feature

The Death of Disparate Impact

The District Court ruled that the Department of Housing and Urban Development overreached in creating a new rule designed to address disparate impact among home buyers. 

By James S. Ganther, Esq.

A District Court judge’s decision in a housing discrimination lawsuit could help derail the CFPB’s ongoing campaign against auto dealers.

Tags: CFPB, discrimination, U.S. District Court

January 2015, Auto Dealer Today - Feature

Time to Man Up

Photo via istock.com

By Ronald J. Reahard

The auto industry and the finance companies that fuel it have yet to mount a proper response to the CFPB's threats and actions.

Tags: CFPB, compliance, Finance

November 2013, Auto Dealer Today - Feature

Beware the Future

By Jim Ziegler

While it’s unwise to get stuck in a bygone era, ‘Da Man’ reminds us all that exciting predictions for the future don’t always pan out.

Tags: CFPB, Generation Y, Jim Ziegler, On the Point, Richard Cordray

August 2013, Auto Dealer Today - Feature

No Good Deed Goes Unpunished

Thomas B. Hudson is a partner in the law firm of Hudson Cook LLP.

By Thomas B. Hudson, Esq.

Subprime loan programs with automatic interest-rate reductions are great for both dealers and their customers, but could run afoul of TILA standards.

Tags: APR, CFPB, credit reports, Good Repayment Incentive Program, GRIP, Lending, subprime, subprime lending, TILA, Truth in Lending Act, UDAP

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