Rescinding the CFPB’s Auto Finance Guidance
The editor debunks a few myths about the Consumer Financial Protection Bureau, then explains why the industry is on the brink of repealing the bureau’s auto finance guidance.
January 4, 2018
The editor debunks a few myths about the Consumer Financial Protection Bureau, then explains why the industry is on the brink of repealing the bureau’s auto finance guidance.
January 4, 2018
General Motors dealers who sell non-GM service contracts, parts and accessories must now disclose to their customers that the products are not backed by the automaker. Dealers who don’t comply face possible termination of their franchise agreement.
August 24, 2017
The Guaranteed Asset Protection Alliance, a lobbying group made up of GAP providers, administrators and finance sources, was instrumental in getting two of the three laws passed — the most recent state to adopt its model act being Maine.
July 13, 2017
Can President-elect Donald Trump really deliver on his promise to ‘dismantle the Dodd-Frank Act’? The editor’s regulatory insiders say that outcome, while possible, is highly unlikely.
December 6, 2016
Regulatory insiders say there are two ways the Trump administration can deliver on its promise to dismantle the Dodd-Frank. But neither scenario has a high probability of success, they say.
November 17, 2016
The Office of the Comptroller of the Currency has once against expressed concern about rising credit risks in the auto finance arena, noting that underwriting standards for both direct and indirect auto loans have begun to decline due to increased competition.
July 19, 2016
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 10, 2015
Moody’s expects the performance of new and outstanding auto loan ABS deals to suffer temporarily due to current regulatory activity, but it does see a silver lining in the increased scrutiny of the auto finance marketplace.
December 30, 2014
Between zero percent financing and looming regulatory changes, F&I managers have reason to worry. The editor weighs in with advice he learned in the batting cages.
August 7, 2013
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