Auto Finance

Troutman Sanders’ Financial Services Litigation practice group specifically focuses on the automotive industry and the legal issues these companies face. We maintain a dedicated Auto Finance practice that offers broad industry experience and in-depth subject matter understanding in compliance, litigation and regulatory matters affecting clients engaged in consumer retail automobile sales, as well as both direct and indirect automobile sales financing. Our attorneys provide ongoing analysis and commentary on developments in the consumer financial services industry, including auto finance, on the Consumer Financial Services Law Monitor located at www.cfslawmonitor.com.

Consumer Class and Complex Individual Actions

Our nationwide practice focuses on defending auto sales and finance companies in consumer class and complex individual actions. Our clients and representative experience include:

  • Six of the top fifteen indirect auto lenders in consumer class and complex individual actions throughout the nation.
  • Major captive auto finance company in nationwide litigation, achieving a benchmark class action settlement for that client.
  • Multiple national banks in defense of individual and class claims arising out of state laws such as the California Consumer Legal Remedies Act and Automobile Sales Finance Act. Our attorneys recently succeeded in moving to strike class allegations at the pleadings stage in one such case, sharply reducing overall exposure.
  • Nationwide Telephone Consumer Protection Act (“TCPA”) counsel in class and individual litigation against a top ten indirect auto lender. Troutman Sanders is one of the only firms in the nation to have significant experience trying individual TCPA claims.
  • Defended the nation’s largest independent car dealer in multiple class actions across several states.

Compliance and Regulatory Investigations

  • In addition to handling litigation, we advise auto sales and finance companies pertaining to compliance and regulatory investigations. Our clients and representative experience include:
  • Regional bank in a fair lending examination of an indirect auto financing portfolio and threatened federal enforcement action.
  • Multiple auto finance companies, including one of the nation’s largest subprime indirect lenders, and banks in providing compliance advice related to their auto financing operations.
  • Nation’s largest independent car dealer and its captive financing subsidiary, providing advice on laws and regulatory requirements in almost 40 states. For the better part of a decade, we have served as this client’s primary national compliance counsel.
  • Multiple major indirect lenders with revisions to their standard dealer agreements, underwriting policies, compliance manuals, and other key documents to address current legal trends and regulatory developments.
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