12 CFR 23.3 - Lease requirements
| Cite as | 12 CFR 23.3 |
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8 practice notes
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Arbitration Agreements
...at 12 CFR 1001.2(a)(1) covers leases of an automobile where the lease ``qualifies as a full-payout lease and a net lease, as provided by 12 CFR 23.3(a), and has an initial term of not less than 90 days, as provided by 12 CFR 23.11 . . . The Bureau believes that the proposed rule should cove......
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Defining Larger Participants of the Automobile Financing Market and Defining Certain Automobile Leasing Activity as a Financial Product or Service
...extending or brokering leases for automobiles, where the lease: (1) qualifies as a full-payout lease \37\ and a net lease, as provided by 12 CFR 23.3(a), and has an initial term of not less than 90 days, as provided by 12 CFR 23.11; and (2) is not a financial product or service under sectio......
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Defining Larger Participants of the Automobile Financing Market and Defining Certain Automobile Leasing Activity as a Financial Product or Service
...extending or brokering leases for automobiles, where the lease: (1) qualifies as a full-payout lease \44\ and a net lease, as provided by 12 CFR 23.3(a), and has an initial term of not less than 90 days, as provided by 12 CFR 23.11; and (2) is not a financial product or service under sectio......
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Investment securities, bank activities and operations, and leasing,
...in any event, the unguaranteed amount of residual value relied upon may not exceed 25% of the bank's original cost of the property. See 12 CFR 23.3, 23.2(e), and former Sec. \22\ M&M Leasing v. Seattle First National Bank, 563 F.2d 1377 (9th Cir. 1977), cert. denied, 436 U.S. 956 (1978)......
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3 firm's commentaries
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CFPB Proposes Rule To Supervise Nonbank Auto Finance Companies
...automobile lease that is not covered by the statutory definition but “qualifies as a full-payout lease and a net lease, as provided by 12 C.F.R. 23.3(a)” and has an initial term of not less than 90 The CFPB notes in the supplementary information that the proposed expanded definition could c......
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CFPB Finalizes Rule to Supervise Nonbank Auto Finance Companies, Releases Auto Finance Examination Procedures for Banks, Nonbanks
...the CFPB. The additional definition includes an automobile lease that “qualifies as a full-payout lease and a net lease, as provided by 12 CFR 23.3(a),” has an initial term of not less than 90 days, and is not a “financial product or service” under Section 1002(15)(A)(ii) of Dodd-Frank. The......
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CFPB Expands Its Jurisdiction to Include Nonbank Auto Finance Companies
...an automobile lease that is not covered by the statutory definition but “qualifies as a full-payout lease and a net lease, as provided by 12 CFR 23.3(a),” and has an initial term of at least 90 days. The broader definition of automobile leases is important because it could cause certain non......