McGlinchey Named Special Finance 175 Honoree By SubPrime Auto Finance News

April 2024

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McGlinchey’s Financial Institutions Compliance team is proud to be listed in the 2024 “Special Finance 175,” a recognition presented by SubPrime Auto Finance News for organizations that “support companies and dealerships with sound guidance and tools to navigate the ever-changing regulatory demands.”

This is the eighth year McGlinchey has received this honor, having appeared on the list since 2017. Click here for the full listing.

Insights

News Release

McGlinchey’s Financial Institutions Compliance Practice, 4 of its Attorneys Honored in Chambers USA 2024

June 6, 2024

McGlinchey is pleased to announce that four Members (Partners) in its Financial Institutions Compliance practice are among the firm’s 25 attorneys recognized in the 2024 edition of the Chambers USA Guide. The practice group itself also sustained its nationwide ranking as one of only 15 firms ranked in the Financial Services Regulation: Consumer Finance (Compliance) category. This marks the eleventh year this practice has been ranked – making it one of only five ranked for eleven years.

Alert

Oklahoma to Require Registration of “Administrators” of Motor Vehicle Debt Waivers & Value Protection Agreements

June 5, 2024

Similar to its long-standing requirement for vehicle service warranty administrators to be registered, Oklahoma recently enacted SB 541 to require the registration of debt waiver program administrators.

Alert

Florida Amends GAP Law and Paves Way to Sell and Finance Innovative Ancillary Products

May 24, 2024

On May 6, 2024, Florida enacted SB 902, modifying provisions in the Motor Vehicle Retail Sales Finance Act governing guaranteed asset protection (GAP) products, creating the “Florida Vehicle Value Protection Agreements Act,” and establishing requirements applicable to excess wear and use waivers for motor vehicle leases. Florida SB 902 will take effect on October 1, 2024.

Presentation

The Long and Winding Road – The Latest in Legal

June 6, 2024

Member Jason Bischel (Cleveland) will join a panel presentation, "The Long and Winding Road - The Latest in Legal,"

Published Article

Junk Fee Supervisory and Enforcement Activity Targets Auto Servicers

October 23, 2023

The CFPB has made combating so-called junk fees an agency priority, bringing multiple enforcement actions, undertaking supervisory activity, and collaborating with the FTC and the Biden administration to curb consumer finance companies from charging fees.

Published Article

Avoiding compliance “captivity” as a new captive finance company

September 26, 2023

Captive automotive finance companies have been a staple of the market in the United States for decades. Traditionally affiliated with long-established manufacturers, these companies have provided support to increase incremental sales through franchise dealer networks and have grown to become some of the most recognized consumer finance brands within and outside the vehicle finance industry.

Published Article

Decoding State Commercial Financing Disclosure Laws, Floorplan Financing

August 29, 2023

Floorplan financing exemptions in the new state commercial financing disclosure laws may not be as broad as lenders think.

Published Article

New State Privacy Laws Impact Auto Finance

June 26, 2023

The regulation of consumer privacy and security in the United States traditionally has been sectoral in nature. In other words, outside of more highly regulated industries like financial services or health care, the use and disclosure of consumer data has been regulated under general federal and state prohibitions on unfair or deceptive acts and practices, rather than under specific consumer privacy laws.