State Law Developments Driving Automotive Finance Regulation

This annual survey for the ABA summarizes key developments affecting automotive financing, focusing on the major state developments. We cover consent orders from Massachusetts and Delaware tied to the financing practices and securitizations of subprime retail installment contracts and touch on various changes to installment and lending laws in Ohio and Vermont. We also cover significant developments impacting ancillary products, such as guaranteed asset protection plans and vehicle service contracts. We conclude with a postscript to a CFPB consent order we first reported in the 2016 annual survey