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Industry representatives and consumer advocacy groups squared off in Washington, D.C., last month for the CFPB’s first public forum on auto lending. The event revealed the tightrope the bureau is walking between preserving a rebounding market and strengthening consumer protections.
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The settlement is the department’s third largest fair lending agreement and largest ever auto lending agreement.
Read More →On Wednesday, the CFPB released preliminary research on the use of arbitration clauses in connection with consumer financial products and services. While auto was excluded from the review, the report’s findings make similar provisions used in auto transactions look ‘consumer-friendly by comparison,’ says legal insider.
Read More →A new report shows financial institutions aren’t the only ones calling for more transparency from the CFPB. Consumers are also asking the bureau to be more more open about its activities.
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The F&I Conference’s compliance panel offered up more questions than answers, but participants made clear the industry’s newest regulator has plenty of tools at its disposal.
Read More →The CFPB, FRB and DOJ joined forces to host a fair lending webinar. The latter two shed some light on their approach to determining rate discrimination, but the CFPB’s standards for determining disparate impact remain a mystery.
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At this year’s Industry Summit, F&I product providers discussed everything from the CFPB to CPO. They also weighed in on the future of the F&I office.
Read More →The editor travels to the magazine’s annual conference with news that one of his key insiders landed on the CFPB’s watch list.
Read More →The American Financial Services Association is commissioning a study to address the CFPB’s concerns for discrimination related to rate participation programs. It will also provide a cost-benefit analysis of alternative dealer compensation models.
Read More →On the eve of the CFPB’s first public forum on auto lending, a town council in New Jersey unanimously votes to settle a lawsuit centered on the disparate impact theory.
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