UPDATE: Motor Vehicle Dealers License Requirement

Leasing, Regulations

Last spring, we reported on proposed legislation in New York that will require all motor vehicle lessors to obtain a dealer’s license in order to legally lease vehicles in the State of New York. While this legislation does not have the headline appeal of mask...

NY Commercial Finance Disclosure Law

Finance

On October 20, 2021, the New York Department of Financial Services (NYDFS) issued proposed rules under New York’s Commercial Financing Disclosure Law (CFDL). The CFDL will be effective January 1, 2022 and mandates consumer type disclosures for certain types of...

Motor Vehicle Dealers license may be required for lessors in New York

Regulations, Transportation Industry

By Sloan Schickler, Esq. and Edward P. Kaye, Esq. Lessors have been engaged in funding and brokering vehicle leases for decades. Many funding sources from nationally recognized banks and captive financing companies have entered into direct vehicle leases and accepted...

Have You Read Your Lease Lately?

Leasing

By Edward P. Kaye, Esq. and Sloan Schickler, Esq. When was the last time you did a full review of your lease and loan documentation? How about a partial review? Anyone? If you are like most independent lessors, you are too busy running your daily operation to devote a...

What Compliance in the Leasing Industry May Look Like in the Biden Administration

Regulations

By: Edward P. Kaye, Esq. and Sloan Schickler, Esq. After four years of deregulation under the Trump administration and with the global economy grappling with the impacts of COVID-19, auto leasing and finance companies and LHPH dealers are advised to get their houses...

New Bankruptcy Law May Be a Lifeline for Transportation Companies

Transportation Industry

By Edward Kaye While the United States Congress continues to play politics in extending additional relief to small businesses, financial hardships plague many in the luxury ground transportation industry. Specifically, as a second round of much-needed PPP money and...

New Bankruptcy Law May Impact Lessors and Lease Funders

Bankruptcy law, Lease Funders, Lessors

While the United States Congress continues to play politics in extending additional relief to small businesses as a result of the COVID-19 pandemic, financial hardship continues to mount, and a wave of commercial and consumer vehicle lease and loan defaults is...

Legal Expert Shares Tips for Communicating With Vehicle Lenders

Bus, Motorcoach

Originally Published by Bus & Motorcoach News As the pandemic recession drags on, most motorcoach operators find themselves in a difficult position, especially when it comes to paying for their fleets. In this situation, owners need to assess their options and...

2020 NVLA Annual Conference Goes Virtual

Leasing

Originally Published by Leasing News After postponing its scheduled annual 2020 conference last March in Austin, Texas, the National Vehicle Leasing Association (NVLA) held a two-day virtual event, “Wins of Change,” last week. Clearly, there has been much change in...