The Consumer Financial Protection Bureau adopted its larger participant rule identifying which nonbank participants in the auto finance market are subject to supervisory examination on June 10, 2015. Companies covered by the new rule include specialty finance companies, manufacturer “captive” finance companies, and “Buy Here Pay Here” finance companies. The rule will become effective 60 days after it is published in the Federal Register.

In this webinar, we will discuss the rule in detail and what companies need to do now to prepare for the CFPB’s new scrutiny of their auto finance and leasing activities. We will also discuss the examination procedures issued by the CFPB contemporaneously with the final rule. CFPB examiners will use these procedures to examine the auto finance activities of banks and nonbanks.

Topics

  • Authority of CFPB to supervise nonbank auto finance companies
  • Treatment of auto leases
  • Hot button supervisory issues we expect the CFPB to focus on
  • How to prepare for CFPB supervisory examinations

Program

12:00 PM - 1:30 PM ET | Webinar

Moderator

Alan S. Kaplinsky, Practice Leader
Consumer Financial Services Group
Ballard Spahr

Presenters

Peter N. Cubita
Consumer Financial Services Group
Ballard Spahr

John L. Culhane, Jr.
Consumer Financial Services Group
Ballard Spahr

Christopher J. Willis
Consumer Financial Services Group
Ballard Spahr

Heather S. Klein
Consumer Financial Services Group
Ballard Spahr

This program is open to Ballard Spahr clients and members of the financial services industry. There is no cost to attend. This program is not eligible for continuing education credits.

Please register at least two days before the webinar. Login details will be sent to all approved registrants. For more information, contact Lisa M. Prickril at prickrill@ballardspahr.com.

Register

Related Practice

Consumer Financial Services