In-depth knowledge of, and experience in, the direct-to-consumer and indirect (dealer) financing of consumer-purpose automobile accounts as well as dealer financing including floorplan facilities. Expertise in consumer vehicle leasing and third party origination and servicing platforms is a plus.
Ability to stay abreast of emerging and evolving consumer auto-related laws and regulations at the federal level including the Military Lending Act, USA PATRIOT Act, Truth-in-Lending Act, Fair Credit Reporting Act, Fair Debt Collections Practices Act, and Regulations B, M, V, and Z.
Ability to stay abreast of emerging and evolving consumer auto-related laws at the state level including laws pertaining to “ancillary products” sold by dealerships including GAP and Credit Life.
Ability to stay abreast of emerging and evolving “e-contracting” laws and Industry practices including ESIGN, UETA, and Articles 8 and 9 of the Uniform Commercial Code.
Solid understanding of the regulatory and associated legal frameworks and governing bodies that impact upon the origination, servicing, and collection of consumer auto accounts including the CFPB, OCC, Federal Reserve, etc.
Proficiency with the review of consumer-related marketing materials including, but not limited to, the review of consumer-facing online and mobile web content, email marketing, and the related TILA, FTC, and other requirements related to consumer-purpose marketing, solicitations, etc.
Proficiency with matters related to the day-to-day servicing of consumer-purpose automobile financing accounts including state requirements to release liens on collateral upon account termination, requirements to refund unearned premiums for ancillary products.
Proficiency with matters related to the day-to-day collection of consumer-purpose automobile financing accounts including state requirements for the repossession of automobiles, Bureau reporting of past-due and charged-off accounts, and OCC FFIEC requirements regarding, among other things, extensions and charged –off accounts.
Proficiency with matters related to the extension of commercial loans to motor vehicle and RV dealerships including construction loans, acquisition loans, working capital loans, floor plan financing, and all matters related thereto including UCC Article 9 perfection requirements, Inter-creditor agreements, Federal Flood Insurance requirements and regulations, etc.
Proficiency with matters related to third party agreements and relationships including third party technology and other service providers, sub-servicers, etc. In connection therewith, familiarity with OCC third party management and oversight expectations are a plus.
Proficiency advising risk and compliance managers and other corporate support functions and attorneys in the above areas, and supporting them in the development of practical operational processes that control risk and ensure compliance.
Proficiency analyzing, drafting and negotiating contractual terms and conditions with third parties such as vendors and corporate/institutional clients, consistent with corporate policies and standards.
Familiarity with Asset-Backed Securitizations, bulk purchase and sales of asset pools, and other structured finance transactions.
Qualified Attorney with a JD and active bar membership in good standing
Minimum of 5 -10+ years relevant experience at a major law firm or corporate legal department.
Deep knowledge of consumer finance, consumer advertising, account servicing, account collections, vehicle repossessions, and related matters.
Ability to field issues across a diverse set of legal fields.
Strong interpersonal, organizational and problem-solving skills.
Ability to present complex issues in a clear and concise manner and provide succinct results-oriented legal advice.
Ability to work in a fast-paced, demanding and collaborative environment with many stakeholders.
Independent, self-starter capable of prioritizing conflicting demands and handling multiple assignments simultaneously.
Strong influencing and leadership skills, including decisiveness on both legal and business issues.