Search Results: test Auto Finance

California Department of Business Oversight Investigates Auto Title Lender for Possible Usury

On September 3, 2020, the California Department of Business Oversight (“DBO”) announced it had initiated an investigation into an auto title lender for possible violations of California’s state usury limits, through its relationship with an out-of-state bank. In 2020, the Company allegedly stopped making state-licensed auto loans in California and instead partnered…

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Massachusetts AG Sues National Auto Lender for Unfair and Deceptive Practices

On August 31, 2020, Massachusetts Attorney General Maura Healy (“Massachusetts AG”) announced that she had filed suit in Massachusetts state court against a national auto lender for allegedly making unfair and deceptive loans to thousands of Massachusetts consumers since 2013 and engaging in unfair debt collection practices. According to the Massachusetts AG, the company…

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Massachusetts AG Enters Consent Judgment with Used Car Company Resolving Predatory Lending Lawsuit

On March 9, 2020, the Massachusetts attorney general’s office (Massachusetts AG) announced ​that it had entered into a consent judgment with a national used car company resolving allegations that the company’s local Massachusetts franchise engaged in predatory lending and deceptive sales of defective vehicles. According to the Massachusetts AG’s complaint​, filed in September 2017, the company sold…

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Massachusetts AG Announces Settlement with Used Car Dealership for Alleged Deceptive Sales Practices

On November 19, 2019, the Massachusetts Attorney General’s Office (AG) announced that it had settled its investigation into a used car dealership’s allegedly unfair and deceptive sales practices in violation of the Massachusetts Consumer Protection Act. The AG alleged that the Massachusetts​ car dealership​ and its owner misrepresented material information about…

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California AG Files Suit Against Auto Dealership Over Allegedly Fraudulent Conduct

​On September 23, the California Attorney General’s Office (AG) announced that it had filed a complaint against a network of auto dealerships and its chief executive, alleging that they targeted low-income consumers with subprime credit using false advertising promising fictitiously low interest rates; made false statements on credit applications to…

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Maryland AG Files Administrative Charges Against Company Accused of Making Usurious Loans

On April 11, 2019, the Maryland Attorney General’s Office (AG) announced that the AG’s Consumer Protection Division had filed charges against affiliated businesses and their owner (defendants) alleging that they had made unlicensed and usurious consumer loans in the form of “title loans” or “title pawns” secured by Maryland consumers’…

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