Automotive Finance: Shifting into Regulatory Overdrive

10 Pages Posted: 18 Jun 2014 Last revised: 22 Jun 2014

See all articles by Kevin M. McDonald

Kevin M. McDonald

Volkswagen Financial Services AG; Washington University School of Law

Kenneth Rojc

Nisen & Elliott, LLC

Date Written: February 28, 2014

Abstract

As part of the Annual Survey of the American Bar Association Section on Business Law, this article examines the impact of the Dodd-Frank Act on the auto finance industry. Regulation of auto finance is being reshaped at the federal level by the Bureau of Consumer Financial Protection ("CFPB"), which has oversight over many of the activities, products, and services that auto finance companies offer. Other federal regulators, including the Federal Trade Commission ("FTC"), with its enforcement authority over deceptive trade practices and debt collection activities, and the Department of Justice ("DOJ"), which has increased enforcement of fair lending laws, also contribute to the reshaping. This year’s Annual Survey focuses on the most significant changes in the auto finance regulatory environment and review the impact of those changes on the life cycle of auto finance products from origination through servicing and collection.

Keywords: Dodd-Frank Act; Consumer Financial Protection Bureau (CFPB); Federal Trade Commission (FTC); auto finance; fair lending; ECOA; UDAAP; compliance

JEL Classification: K2; K23; K42

Suggested Citation

McDonald, Kevin M. and Rojc, Kenneth, Automotive Finance: Shifting into Regulatory Overdrive (February 28, 2014). 69 Bus. Law. 599 (2014), Available at SSRN: https://ssrn.com/abstract=2455457

Kevin M. McDonald (Contact Author)

Volkswagen Financial Services AG ( email )

1950 Opportunity Way, Suite 1500
Reston, VA 20190
United States
571-314-2761 (Phone)

HOME PAGE: http://www.linkedin.com/in/kevmcdonald1

Washington University School of Law ( email )

Campus Box 1120
St. Louis, MO 63130
United States

HOME PAGE: http://law.wustl.edu/faculty-staff-directory/profile/kevin-m-mcdonald/

Kenneth Rojc

Nisen & Elliott, LLC ( email )

200 W Adams St #2500
Chicago, IL 60606
United States

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