March 22, 2018 RAPID RESPONSE

Abusive Car Loan and Sale Practices: Scope and Potential Remedies to Strengthen Consumer Protections

Today, there are almost 100 million auto loans outstanding totaling more than $1 trillion. In a society where more than 90% of American households have a vehicle, it represents the third largest type of consumer debt, trailing behind only mortgage and student debt. The purpose of the program is to provide an overview of the trending legal issues relating to auto loan and sale practices that heavily impact low- and moderate income consumers, the magnitude of its impact, and how regulators view these trends. We will discuss the pros and cons of certain proposed legal remedies and practices purportedly designed to strengthen consumer protections, especially in the sub-prime marketplace.

Panelists

  • Delvin Davis, Senior Research Analyst and Lead Researcher on Auto/Car Title Lending, Center for Responsible Lending
  • Shennan Kavanagh, Deputy Chief, Consumer Protection Division, Office of the MA Attorney General
  • Ashley L. Taylor, Jr., Partner, Consumer Financial Services Practice, Troutman Sanders
  • John W. Van Alst, Director of Working Cars for Working Families Project, National Consumer Law Center

Co-Sponsor: ABA Section of Civil Rights and Social Justice Economic Justice Committee

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