Kevin M. McDonald of VW Credit, Inc. and Kenneth J. Rojc of Nisen & Elliott, LLC have written Automotive Finance: Shifting into Regulatory Overdrive, 69 Bus. Law. 599 (2014). Here is the 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.
