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The Consumer Financial Protection Bureau has ordered U.S. Bank and its nonbank partner company, Dealers’ Financial Services, to pay restitution to participants in the Military Installment Loans and Educational Services (MILES) auto loans program.
Read More →Thirty-five congressional republicans warn the bureau that reforms it seeks in the auto finance industry could weaken marketplace competition and hurt a consumer’s ability to obtain the best financing terms.
Read More →Eight trade associations request that the Department of Housing and Urban Development and the Consumer Financial Protection Bureau clarify and create guidance related to their use of the disparate impact theory to determine discrimination.
Read More →The 2013 chairman calls out the CFPB for not demonstrating that problems exist with dealer participation programs, and questions the bureau’s use of the disparate impact theory.
Read More →Thirteen Democrats in Congress sent a letter to the CFPB's Richard Cordray, asking for “any and all background information” on the bureau's investigations of auto finance.
Read More →The man behind the industry’s only sanctioning body for the F&I trade returns to offer his take on today’s regulatory environment.
Read More →The magazine’s legal eagle doesn’t mince words when he describes the ‘logical disconnect’ between the CFPB’s view of fair lending and how dealer participation really works.
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Now, more than ever, dealers are left with unanswered questions about finance reserve, discriminatory lending and other regulatory concerns. Two attorneys share their opinions on those topics with F&I and Showroom.
Read More →The CFPB isn’t the only regulator interested in what goes on inside the F&I office. The U.S. Department of Justice also is taking aim at retail installment transactions.
Read More →The CFPB launches the nation’s largest database of federal consumer financial complaints. Bureau officials said the database will be used to prioritize its investigations, among other things.
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