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TAG SEARCH RESULT: Consumer Financial Protection Bureau

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June 11, 2015

CFPB to Oversee Nonbank Auto Finance Companies

The CFPB finalized last week its proposal to oversee nonbank auto finance companies. The finalized rule, which left out recommendations submitted by an auto finance trade group, will take effect 60 days after publication in the Federal Register.

June 10, 2015

CFPB Finalizes Proposal to Oversee Nonbank Auto Finance Companies

The CFPB finalized today its proposal to oversee nonbank auto finance companies. The finalized rule will take effect 60 days after publication in the Federal Register.

June 4, 2015

House Votes to Eliminate DOJ’s Use of Disparate Impact

The House passed an amendment Wednesday that would bar the Department of Justice from using funds for litigation in which the regulator seeks to apply the disparate impact theory.

May 28, 2015

U.S. Bank Monitoring F&I Product Pricing

U.S. Bank told dealers this week that it’s monitoring how they price F&I products. If its monitoring program finds ‘unexplained differences in pricing or excessive add-on product financing on a prohibited basis,’ dealers will be asked to provide an explanation.

May 28, 2015

Members of Congress Call on CFPB to Eliminate Arbitration Agreements

More than 50 members of Congress have signed a letter urging the CFPB to issue new rules to eliminate the use of forced arbitration clauses in consumer financial service contracts.

May 26, 2015

Disparate Impact Ruling Expected This Week

A case debating a legal theory used by the Consumer Financial Protection Bureau to go after auto finance sources for perceived discrimination in dealer markup is expected to be ruled on this week by the U.S Supreme Court.

May 6, 2015

Most Dealers Unprepared for CFPB Regulations, eLEND Finds

In a recent survey, eLEND Solutions found that while 80% of dealers expect the CFPB to implement regulations that would replace dealer participation with mark-up thresholds or a flat-fee model, only 40% have plans in place to meet those requirements.

May 4, 2015

Take a S.W.O.T. at Success

Given the many changes taking place in the F&I field, the AFIP’s executive director says a little self-inspection is in order if you hope to win the F&I trifecta.

May 1, 2015

Spin Control

The magazine’s resident legal insider says the media departments at two of the industry’s top regulators got a little too creative with their recent work.

April 23, 2015

AutoNation's PVR Average Surpasses $1,500

For the first time, the public dealer group’s F&I profit per deal average surpassed the $1,500 mark. Officials said the company will continue to emphasize F&I product sales as it preps for the launch of an AutoNation-branded maintenance contract later this year.