Joseph Cioffi’s article, “The Dark Side of Automation: Impact on Subprime Auto Borrowers” was published in ValueWalk.
Self-driving cars, car sharing and subscription-based vehicle services: these are destined to affect the auto industry in ways that will make the current sales slump and shift from cars to SUVs seem like a bump in the road. Predictions vary widely as to when the sea change in how we think about cars and how they fit into our lives will come, but its inevitable arrival is often portrayed as part...
Joseph Cioffi and Seiji Newman’s article, “Oh, The Indemnity! New Claims May Follow RMBS Settlements” was published in Law360.
A Federal Reserve blog post in November 2016 attracted widespread attention to subprime auto lending and the similarities easily drawn, at least on the surface, to subprime mortgage lending leading up to the financial crisis of 2008. The warnings of commentators who have sounded the alarm in the past six months have been rebutted at every turn, due mainly to the small footprint of the auto loan...
Recent comments from HUD Secretary Ben Carson struck a sour note for supporters of the PACE loan program, through which thousands of homeowners and businesses have made energy-efficient improvements to their properties. Just last year, in an effort to boost the program, the FHA, under the Obama Administration, said it would back mortgages on homes encumbered by PACE loans. But earlier this month,...
Student loans carry a reputation for inevitability surpassed only by death and taxes. With good reason, too. In order to discharge a student loan in bankruptcy—the only way to shake it for good—a borrower in bankruptcy must show that being required to repay the loan would cause them “undue hardship.”
Beneath all the excitement surrounding the fast-growing “fintech” industry has been a more practical question: who, exactly, is going to regulate this new breed of enterprise?
