Posts by Nicholas

In January 2020, the CFPB Director appointed a Taskforce on Federal Consumer Financial Law to study and make recommendations on ways to improve consumer protections.  Earlier this week, the Taskforce issued its comprehensive report that contains a laundry list of recommendations to protect consumers, including several submitted by the...

Governor Phil Murphy signed into law a bill that will spread out unemployment tax increases over three years.  Both the federal government and individual states tax the wages businesses pay in order to fund their unemployment insurance offered to individuals who lose their jobs.  The dramatic increase in unemployment...

In January 2020, the Consumer Financial Protection Bureau (CFPB) formed a Taskforce on Federal Consumer Financial Law to examine the existing legal and regulatory environment facing consumer and financial services providers, including those offering automotive financing. The CFPB is expected to release a report containing the Taskforce’s recommendations to...

Earlier this week, President Trump signed into law the $900 billion coronavirus relief bill that Congress passed on December 21. There are several items that are of particular interest to dealerships For instance, the bill clarifies that expenses paid for using Paycheck Protection Program (PPP) loan proceeds are tax...

The National Highway Traffic Safety Administration (NHTSA) announced a new rule in 2019 that set out minimum odometer security and authentication criteria. The rule also amended the “older vehicle” odometer disclosure exemption, which will impact dealers as of January 1, 2021. Starting January 1, dealers must provide odometer disclosures for any...

  On November 3, 2020, New Jersey voters approved...