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Senate Committee Narrowly Confirms Trump's Pick to Head BCFP
Wells Fargo Faces $1 Billion Fine for Mortgage and Auto Insurance Issues
Reuters: U.S. Senate Panel Plans to Scrap CFPB’s Dealer Participation Guidance
Bloomberg: Senate Banking Chair Closing In on Bipartisan Dodd-Frank Rollback
CFPB: Longer-Term Loans Not Having Desired Effect for Borrowers, Finance Sources
Ally Takes Control of GAP Refunds

Ally Takes Control of GAP Refunds

The finance source’s new policy took effect days before new allegations surfaced that Wells Fargo failed to deliver GAP refunds to borrowers. It states that Ally — not dealers — will directly refund the unearned portion of GAP waivers and insurance to borrowers within 45 days of the paid-in-full date.

October 11, 2017

House Approves Dodd-Frank Replacement Bill

House Approves Dodd-Frank Replacement Bill

Four days after the U.S. House passed a bill aimed at reversing a number of Dodd-Frank financial regulations and scaling back the CFPB’s authority, the Treasury Department recommended that the bureau’s powers be reduced in a report containing more than 100 suggestions for financial reform.

June 13, 2017

Tom Hudson Releases Book on Fed Government’s War on Dealers

In his new book, the attorney traces actions over the last five years by the Consumer Financial Protection Bureau and the Federal Trade Commission. It addresses the government's war on several fronts, from advertising and discrimination to disclosure requirements and other everyday compliance issues.

February 16, 2017

President Trump Orders Review of Dodd-Frank

President Donald Trump took his first step toward making good on his promise to dismantle the Dodd-Frank Wall Street Reform and Consumer Protection Act, signing on Friday an executive order directing the secretary of the Treasury to review the 2010 financial oversight law.

February 3, 2017

EFG Companies: F&I Industry Faces Murky 2017

EFG Companies: F&I Industry Faces Murky 2017

The expected regulatory rollback, plateauing sales, rising interest rates, and the push to change the in-dealership experience clouds the F&I industry’s future, EFG Companies said today. Four of the firm's executives offered their predictions for 2017.

January 31, 2017

CFPB’s Project Catalyst Opens Door to Innovation

Automotive retailing isn’t the only segment exploring the risks and opportunities of the Digital Age. On Monday, the CFPB issued its first-ever Project Catalyst report highlighting its efforts so far to facilitate consumer-friendly innovation.

October 25, 2016

Firm Urges Dealers to Remain Vigilant in Wake of CFPB Ruling

Automotive Compliance Consultants warned dealers not to let their guard down after last week’s federal appeals court ruling that the CFPB’s structure is unconstitutional. The firm said other regulators have taken note of the bureau’s activities, adding that next month’s elections will determine if the ruling has teeth.

October 18, 2016