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|CFPB Issues Special Edition Supervisory Highlights on Indirect Auto Lending|
Neal C. Wise; Jones Walker LLP;
September 29, 2014, previously published on September 25, 2014On September 23, 2014, the Consumer Financial Protection Bureau ("CFPB") released its Supervisory Highlights describing its fair credit supervisory actions in the indirect automobile lending market. According to the CFPB, the term "indirect automobile lenders" consists of...
|CFPB Proposes to Examine and Directly Supervise Nonbank Auto Lenders|
Keith J. Barnett, Thomas M. Byrne, B. Knox Dobbins, Cheryl L. Haas, Jason S. McCarter; Sutherland Asbill & Brennan LLP;
September 25, 2014, previously published on September 19, 2014On September 17, the Consumer Financial Protection Bureau (CFPB) proposed to make nonbank automobile lenders subject to the examination and direct supervision of the Bureau. Under the proposed rule, the CFPB would include as a “larger participant” any company engaging in more than...
|Best Practices in Drafting U.S. Government Subcontract Terms and Conditions|
Erin L. Toomey; Foley & Lardner LLP;
September 17, 2014, previously published on September 15, 2014Federal government subcontracts are a hybrid between commercial contracts governed by state law (such as, for the sale of goods, the Uniform Commercial Code) and government contracts governed by the Federal Acquisition Regulation (FAR) and FAR agency supplemental clauses. A...
|BYOD and the Auto Industry: A Marriage Made in Heaven or Hell?|
Mark J. Neuberger; Foley & Lardner LLP;
September 12, 2014, previously published on September 8, 2014By all accounts, Bring Your Own Device (BYOD) to work is catching on like wildfire because virtually every American worker holds a device in the palm of their hand which is faster and more powerful than some of the most powerful desktop computers from as little as ten years ago. As employees at all...
|¿No Va? ĄSi va! Investing in Mexico’s Auto Industry|
Annette De La Torre; Foley & Lardner LLP;
September 12, 2014, previously published on September 11, 2014Mexico, our neighbor to the south, is growing every day as a leading producer in the automobile industry. Presently, Mexico is the world’s largest producer of light vehicles and the second largest in Latin America. Companies in Mexico in the light vehicle industry have approximately 18...
|Spiders Force Suzuki Vehicle Recall|
Seth A. Katz; Burg Simpson Eldredge Hersh & Jardine, P.C.;
September 11, 2014, previously published on August 28, 2014Suzuki has been forced to recall more than 19,000 midsize cars over fear that spider webs could clog a fuel vapor vent hose in certain Kizashi cars with model years from 2010 to 2013. If airflow is cut off, the gas tank can be damaged or deformed, increasing the potential for a fire.
|Third Circuit Rules Failure to Appeal Leaves Union and Its Retirees Without a Remedy|
Kevin C. Maclay, Todd E. Phillips, James P. Wehner; Caplin & Drysdale, Chartered;
September 10, 2014On August 28, 2014, the Court of Appeals for the Third Circuit delivered a stern admonition about the risk of failing to appeal when it ruled that a union that had not filed a notice of appeal could not benefit from a successful appeal by another union in the same matter. The decision directly...
|Toyota Motor Credit Corp. "Moving Forward" in New Jersey Tax Court|
Sahang-Hee Hahn, Pilar Mata; Sutherland Asbill & Brennan LLP;
September 4, 2014, previously published on August 29, 2014 The New Jersey Tax Court ruled for Toyota Motor Credit Corp. on three issues for New Jersey Corporate Business Tax purposes. Specifically, the court upheld the taxpayer’s gain calculation method using an upwardly adjusted federal tax basis; upheld the taxpayer’s departure from federal...
|Must You Always Report a Car Accident to Police in Connecticut?|
Carmody Torrance Sandak Hennessey LLP;
September 2, 2014, previously published on August 25, 2014Conscientious Connecticut motorists understandably invest most of their focus on state roadways on literally steering clear of any involvement in a motor vehicle accident.
|Draft ISO 14001:2015 Standard Available for Public Comment|
Karen Lutz; Foley Lardner LLP;
September 1, 2014, previously published on August 18, 2014The revision of the ISO 14001 standard is now open for public comment, with the final standard publication expected in 2015, affecting over 280,000 certified organizations worldwide. Once final, the standard is expected to be in place until 2025.