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April 12, 2016 - Industry News

Compliance Summit to Hit Tampa, Las Vegas in 2016

Organizers of Compliance Summit, a series of regional events dedicated to front-end compliance for dealers and dealership management, announced that events will be held in Tampa and Las Vegas this year following stops in Chicago and Austin, Texas, in 2015.

Tags: CFPB, compliance, Compliance Summit, Dealer Summit, ECOA, F&I Think Tank, Federal Trade Commission, Regulation Z, Regulations, TILA

November 5, 2013 - Industry News

CFPB Responds to Senators’ Demands

CFPB Director Richard Cordray responded Monday to lawmaker demands for information on the bureau’s investigation of the indirect financing channel. The director delivered his response a day before Ally revealed in a filing with the SEC that it may be facing ECOA violations.

Tags: Ally Financial, Brittany-Marie Swanson, CFPB, Consumer Financial Protection Bureau, ECOA, NADA, Richard Cordray

March 21, 2013 - Industry News

CFPB: Lenders Are Responsible for Discriminatory Markups

In a bulletin issued today, the CFPB warned banking institutions that they could be on the hook for discriminatory markups imposed by dealers. The bureau’s notice also contains guidance on how finance sources should address fair lending risk.

Tags: Auto Lending, CFPB, discrimination, ECOA, Equal Credit Opportunity Act, Richard Cordray

June 22, 2011 - Industry News

Federal Reserve Temporarily Exempts Dealers from Certain Dodd-Frank Requirements

Dealers will remain exempt from certain data collection requirements under ECOA until the Federal Reserve Board issues final regulations.

Tags: Dodd-Frank Act, ECOA, FEDERAL REGULATION, Federal Reserve

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