Automotive Funding Group, Inc. v. Garamendi

Opinion

RUBIN, J.

State Insurance Commissioner John Garamendi appeals from the judgment in an administrative mandate action which determined that a debt cancellation program offered by car finance lender Automotive Funding Group, Inc., was not insurance and therefore was not subject to regulation by the Department of Insurance. For the reasons set forth below, we affirm the judgment.

FACTS AND PROCEDURAL HISTORY

The State Insurance Commissioner contends that a debt cancellation program offered by used car lender Automotive Funding Group, Inc. (AFG), 2 was in fact insurance, subject to regulation…