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April 26, 2017

CFPB Fines SNAAC for Violating 2015 Consent Order

The regulator fined Security National Automotive Acceptance Co. $1.25 million for failing to give back money to servicemembers as part of the bureau's October 2015 consent order, which required the finance source pay $2.275 million in consumer redress through credits and refunds for illegal debt-collection tactics.

April 7, 2017

AFSA to Congress: The CFPB ‘Needs to Be Reined In’

A day after House Republicans called for the dismissal of CFPB Director Richard Cordray, the American Financial Services Association called on Congress to reform the bureau’s practices and amend its structure.

March 21, 2017

5 Ways Trump Can Alter Finance

Auto dealer regulations face an uncertain future under the Trump presidency. Two California-based attorneys take a look at the road ahead for the CFPB, the FTC, and state regulators.

February 16, 2017

D.C. Circuit Grants CFPB’s Request to Defend Single-Director Structure

The D.C. Circuit granted the bureau’s request to reconsider last October’s three-judge ruling that the bureau’s structure is unconstitutional, vacating a decision that gave the president the authority to remove the director of the CFPB at will.

January 19, 2017

House Republicans Allege CFPB Director Violated U.S. Law in New Report

A new report released by Republican members of the House Financial Services Committee charges CFPB Director Richard Cordray with violating federal law when the regulator published its Larger Participant Rule in June 2015.

January 4, 2017

CFPB Orders TransUnion and Equifax to Pay $23.1 Million for Deceptive Practices

The Consumer Financial Protection Bureau (CFPB) this week took action against Equifax and TransUnion, ordering the two credit reporting agencies and their subsidiaries to pay more than $17.6 million in restitution for deceiving consumers about the usefulness and actual cost of credit scores they sold to consumers. The two firms were also ordered to pay $5.5 million in fines to the regulator.

December 27, 2016

4 Compliance Predictions for 2017

The magazine’s compliance pro dusts off his crystal ball to offer a few predictions for 2017. If he’s correct, F&I offices could be in for a challenging year.

December 22, 2016

A Final Message From the Chairman

Jeff Carlson reflects on his term as the NADA’s 2016 chairman, highlighting the association’s victories as well as the challenges ahead.

December 8, 2016

Four Trade Groups Ask Lawmakers to Instate Five-Person Board to Lead CFPB

Four associations representing 12,000 banks and credit unions have asked Senate leaders to consider replacing the Consumer Financial Protection Bureau’s single-director structure with a five-person bipartisan commission next year.

December 6, 2016

Defining the Dark Side

There’s one way to keep federal regulators, plaintiffs’ attorneys, attorneys general and the media at bay. Read on to find out what it is.

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