Law360, New York (June 18, 2014, 10:15 PM EDT) -- On April 23, 2014, Benjamin M. Lawsky, Superintendent of the New York State Department of Financial Services ("DFS"), filed a complaint[1] in the U.S. District Court for the Southern District of New York against Condor Capital Corp., a subprime, indirect auto lender, and Stephen Baron, Condor's Chief Executive Officer and sole owner. The gravamen of the complaint is that Condor stole funds from and endangered the personal information of its customers and, in so doing, engaged in unfair, deceptive and abusive acts or practices in violation of the federal Consumer Financial Protection Act.[2] The complaint appears to mark the first legal action[3] brought by a state regulator pursuant to Section 1042 of the CFPA[4] and could have important practical implications for persons subject to the CFPA....
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