Posts tagged Consumer finance blog.

Beginning August 31, 2015, the CFPB will begin supervising nonbank auto finance companies pursuant to 12 C.F.R. 1090.108. The Final Rule provides that auto finance companies that qualify as "larger participants of a market for automobile financing" will be subject to the new regulation. The Dodd-Frank Act gave the CFPB supervisory authority over "larger participants" of certain markets for consumer financial products or services, as defined by the CFPB. See 12 U.S.C. 5514(a)(1)(B). In June 2015, the CFPB finalized its larger participant regulation as it relates to the ...

Posted in: CFPB, Dodd-Frank Act
The Federal Communications Commission (FCC) disappointed many with its July 1, 2015 Declaratory Ruling and Order on the Telephone Consumer Protection Act ("TCPA"). The TCPA prohibits, amongst other things, using an automated telephone dialing system to call a cellular telephone without prior express consent. The expansive view the FCC took on the definition of automated telephone dialing system and the narrow view it took on the issue of prior express consent made the order a seemingly one sided victory for the FCC's enforcement division (and the plaintiff's bar). The FCC's order ...

In Palm-Aire Vill. Private Homes Townhouse Park Bd., Inc. v. Epstein, No. COSO14-011561 (Fla. Cir. Ct. May 18, 2015), the Court was faced with the issue of whether the Homeowner successfully exercised his right of redemption pursuant to Fla. Stat. § 45.0315 even though a third-party purchaser at a foreclosure auction had tendered funds just before the Defendant did so. In this case, the property was sold at foreclosure auction on March 27, 2015 to a third-party purchaser. Three days later, the third-party purchaser tendered funds to the Clerk of Court at 9:39 a.m., but the Clerk refused ...

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