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Toyota Motor Credit Agrees to Lower Markup Caps to Settle CFPB Allegations

The three-year standoff between Toyota Motor Credit, the Justice Department and the CFPB is over, with the captive agreeing to pay up to $21.9 million in restitution to minority borrowers the regulators allege were overcharged on their auto loans. The captive also agreed to lower its dealer markup caps.

February 3, 2016

Solving the CFPB Problem

Solving the CFPB Problem

The man who has led the NADA’s regulatory advocacy efforts since 2006 believes the tide may be turning in the CFPB’s attack on dealer participation.

August 28, 2015

CFPB, DOJ Reach $24M Settlement With Honda Finance

CFPB, DOJ Reach $24M Settlement With Honda Finance

Just two weeks after American Banker reported that the CFPB was planning to cite three captive auto finance companies for policies that allegedly caused minority car buyers to pay higher rates for auto loans, the bureau and the Department of Justice have announced a settlement with Honda Finance Corp.

July 14, 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 4, 2015

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