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Poll: Most Voters in Battleground States Support Structural Reforms to CFPB
Playing With Fire

Playing With Fire

Two attorneys issue a warning about a new sales trick circulating through the industry. Their advice: If it’s too good to be true, it probably is.

May 4, 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

Senate Republicans Introduce CFPB-Restructuring Bill

Senate Republicans Introduce CFPB-Restructuring Bill

Senate Republicans have reintroduced legislation aimed at replacing the CFPB’s single-director structure with a five-member bipartisan board. The bill was unveiled as Congressional Democrats and state regulators pledged to defend Director Richard Cordray and his agency.

February 2, 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

NADA Chairman: Hope for the Best, Prepare for the Worst

Jeff Carson likened his year as chairman of the NADA to piloting a plane during a ‘catastrophic electrical failure,” noting that he experienced situations where he started out on what seemed a routine path only to have outside events toss his flight plan out the window.

January 30, 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

U.S. House Committee Passes Bill Aimed at Replacing Dodd-Frank

Last week, the U.S. House Financial Services Committee passed the Financial CHOICE Act, which supporters describe as an alternative to the Dodd-Frank Act. It contains language aimed at repealing the CFPB’s guidance on dealer participation, among other things.

September 15, 2016

CFPB Issues Small-Dollar Lending Rule

The Consumer Financial Protection Bureau used its field hearing today to issue its proposed rule targeting what Director Richard Cordray called “payday debt traps.”

June 2, 2016