Law360, New York (January 30, 2015, 12:52 PM EST) -- At the end of 2014, the New York Department of Financial Services became the first state regulator to settle a case using its authority to enforce the federal Consumer Financial Protection Act.[1] In Benjamin M. Lawsky, Superintendent of Financial Services of the State of New York v. Condor Capital Corp. and Stephen Baron, the DFS claimed indirect auto lender Condor Capital Corporation and its sole shareholder, Stephen Baron,[2] violated both New York state law and the CFPA's prohibition on unfair, deceptive, or abusive acts or practices by, among other things, overcharging consumers and deceptively retaining credit balances due to them. The settlement requires Condor and Baron to admit to New York and federal violations, pay approximately $8 million to $9 million in restitution, pay a $3 million penalty and surrender all of Condor's state lending licenses....