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The dealer group not only endorses the association’s fair lending plan, it plans to implement the program in the next several months, officials confirm.
Read More →Officials with Penske Automotive Group, which reported a record fourth quarter, said the operation will “wait and see” when it comes to adopting the NADA’s new fair lending compliance program.
Read More →Ally Financial’s quarterly report shows growth for the company and its network, but also reveals the impact of the company’s settlement with the CFPB and DOJ, as well as its ResCap bankruptcy plan.
Read More →Asbury Automotive Group, which reported a record fourth quarter, does not plan to alter any business practices in response to the CFPB’s scrutiny of rate participation programs. Officials reveal that the dealer group already has already adopted many of the regulator's recommendations.
Read More →AutoNation’s chief executive says he doesn’t expect the CFPB to eliminate rate participation, but he admits to not knowing ‘the end of the story yet.’
Read More →Findlay Automotive Group has selected Automotive Compliance Consultants’ compliance services to ensure the group’s 26 dealerships comply with regulations.
Read More →The Center for Responsible Lending released findings last week that show negotiation does not help African American and Latino car buyers secure better interest rates on auto loans. Auto trade groups, however, were critical of the study’s findings, claiming it lacks data to support its claims.
Read More →Last week, the NADA announced a new fair lending compliance policy and program designed to help dealers cope with growing pressure from regulators like the CFPB.
Read More →The former CFPB executive once described as a ‘valuable conduit between the CFPB and the industry’ has joined Hudson Cook LLP as a partner in the firm’s Portland, Maine, office.
Read More →The magazine’s legal insider offers her predictions for 2014. None of them should be surprising, but the industry is in for a ride if her forecast is realized.
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