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Credit card down payments, multiple vehicle purchases and even straw purchases can be completed without committing bank fraud, as long as you tell the bank first.
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The bureau ordered the subprime auto finance source and its subsidiary to pay a $4.25 million civil penalty for illegal debt-collection tactics and $44.1 million in consumer redress.
Read More →CFPB Director Richard Cordray was met with hostility on Tuesday during the bureau’s semi-annual report to Congress. The hearing took place a day before a House committee passed two CFPB reform bills.
Read More →CreditMiner, a pre-qualification solution for dealers, has added the VISOIQ database of consumer information to its suite of data offerings.
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The CFPB and DOJ announced two actions against Fifth Third Bank on Monday, one of which requires the finance source to pay $18 million in restitution to minority auto loan borrowers, as well as limit its dealer partners’ ability to markup interest rates on auto loans.
Read More →AmTrust Financial Services has announced the completion of its acquisition of Warranty Solutions from Wells Fargo for approximately $158 million in cash.
Read More →Default rates inched up in August across multiple consumer credit categories, including auto loans and mortgages, according to data released by S&P Dow Jones Indices and Experian.
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Internal CFPB documents obtained by American Banker show bureau officials repeatedly acknowledging that the method used for detecting discrimination by indirect auto lenders may overestimate disparities.
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Volkswagen's chief executive apologizes for emissions scandal and promises to 'do everything necessary in order to reverse the damage this has caused.'
Read More →In order to manage risk levels and achieve ongoing profitability, lenders need to use collateral and residuals in the underwriting process. That’s according to a new whitepaper from Black Book’s Lender Solutions division.
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The magazine’s newest contributor says the relationship between old car dawgs and new-age techies doesn’t have to be tumultuous.
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