Archived Webinar

Lender Liability for Borrower Problems
With Automobile Purchases

A NorthLegal Webinar Presented December 3, 2015
Duration: Approximately 1:30 hr:min

Cost/Registration | How to Attend a Webinar

Enroll Now

Click here to register to watch this program with a coupon code or using a credit card. Call NorthLegal at 623.537.7150 to discuss registration by any other method.

Handout Materials

After enrolling, click here to obtain the handout materials in PDF. Then contact NorthLegal (623.537.7150) to obtain the password you will need to open those materials.


How will the Volkswagen scandal affect your financial institution?

Volkswagen has acknowledged that it misrepresented the emission levels of millions of model year 2009 to 2015 cars that it sold. Lawyers are lining up to solicit clients and to file lawsuits demanding, among other things, their money back.

What does this mean for consumer lenders who financed those purchases?

And the problem doesn't stop with Volkswagen. Automobile financing provides a great opportunity to earn income by rendering a valuable service, but it is certainly not without risk. Lenders frequently face borrowers' claims that dealers misrepresented the condition or history of vehicles, failed to provide proper disclosures required by law, charged inappropriate fees, failed to pay off traded-in vehicles, or even failed to clear the titles of previous owners or lienholders.

When that happens, what is your responsibility? Do you know what laws apply and what those laws say? Do you know what steps to take when there is the first hint of a problem? When a lawsuit is filed?

During this webinar, Eric North talks with lending institutions about the rights and obligations you have when a borrower raises claims about a vehicle you have financed or about the dealer who sold that vehicle. Topics will include—

Laws making the lender liable for dealer conduct—on both indirect and direct loans.

"John Decker bought his 2013 Volkswagen Jetta diesel thinking he was doing his part to improve the environment and reduce his carbon footprint.

"Now . . . he just wants the company to buy it back from him."

BloombergBusiness "Volkswagen Owners Want Payback," 9/21/2015

How debtors can use dealer and vehicle problems to gain an advantage in bankruptcy cases, and your options when responding.
Good and bad language to look for in your dealer agreement.
What you can—and can't—expect from the dealer.
Protecting your right to insurance coverage.
The role of your financial institution's attorney.
Preventive steps to consider before a problem arises in order to limit your liability.
What to do when a borrower first asserts a claim.
Steps to take when you are served with a lawsuit.

NOTE: This program is intended for employees of consumer financial institutions. Please contact NorthLegal Training and Publications to obtain approval before registering if you are not an employee of a consumer financial institution.

The fee to attend this archived program is $160.00 if paid by credit card or $170.00 if paid by check. For that fee, you or someone from your financial institution may view this program as often as you like for a period of 180 days. (NOTE: If your financial institution registered for the live program, you already have free access to the archvied version for 180 days! Contact NorthLegal for information.)

How to Attend a Prerecorded Webinar
To attend this NorthLegal Webinar, please do the following:

Register.  To register online using a credit card, visit the "Enroll Now" link shown in the box at the top of this page. To register by mail, call NorthLegal at 623.537.7150.
Check your email. Within moments after you complete the registration process you should receive two emails.  One will be a receipt for the transaction and the other will contain a link and detailed instructions explaining how to use that link to attend the program. 
Download the handout materials by clicking the "Handout" link shown above.
Call NorthLegal to obtain the password to open the handout materials.

» Archived NorthLegal Webinars
» 2016 NorthLegal Conferences
Speaker: Eric North

Eric North, the primary speaker at the programs listed on this site, has represented the interests of consumer financial institutions as an attorney with respect to litigation, compliance, governance, bankruptcy and collections matters since 1984. Eric has appeared in state and federal courts throughout the State of California, and has argued before the Ninth Circuit Court of Appeal.

Eric is also a nationally recognized speaker on legal issues relating to consumer financial institutions, and has presented hundreds of programs on behalf of national, state and local leagues and associations from around the country.
Watching your training budget? NorthLegal Webinars allow you to train multiple employees for one low fee.

Webinar scheduling conflict? No problem. Registration for a NorthLegal Webinar allows you to watch it live AND allows you or others from your financial institution to watch it as often as you like for 30 days!  If you can't make the live program, you still have plenty of time to watch at a time that is more convenient for you!