The Automotive Finance Group has been recently assisting certain captive finance company clients with their state regulatory examinations
July 2023

The Automotive Finance Group has been recently assisting certain captive finance company clients with their state regulatory examinations, including sales finance license examinations. As part of this process, we have worked with both the client and applicable regulator in responding to exam issues related to contract form usage, fee parameters, fair lending issues, servicing procedures, debt collections, lien perfection, vehicle titling issues, repossession management and ancillary products. In several cases we have actively participated in meetings with regulatory officials to address compliance issues that arise during the course of the examinations. In conjunction with the regulatory exams, the Automotive Finance Group has also collaborated with clients in updating and reviewing their written compliance policies. Among the federal and state law compliance policies that we have recently updated include the following: ECOA/Fair Lending, Fair Debt Collection, Privacy, Account Servicing, Ancillary Products, Repossessions and Privacy.