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A New Jersey housing bias case the Supreme Court agreed to hear could end in settlement. If an agreement isn’t reached, the high court could strike down the CFPB’s use of the disparate impact theory in its scrutiny of rate participation programs.
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CFPB Director Richard Cordray responded Monday to lawmaker demands for information on the bureau’s investigation of the indirect financing channel. The director delivered his response a day before Ally revealed in a filing with the SEC that it may be facing ECOA violations.
Read More →This week, 11 Democrats and 11 Republicans issued a letter to CFPB Director Richard Cordray, demanding transparency in how the bureau is determining the presence of discriminatory practices in the indirect financing channel.
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The hot-button issue for the NADA in 2014 will be the CFPB’s targeting of the indirect financing channel, incoming NADA Chairman Forrest McConnell tells F&I and Showroom.
Read More →The CFPB ordered another bank’s credit card division to repay customers for the way it delivered "add-on products" to customers.
Read More →Steven Antonakes officially assumes the role of deputy director for the CFPB, the bureau announced this week.
Read More →The CFPB was short on details when it responded last week to 35 House Republicans who requested additional information on the bureau’s review of dealer participation programs.
Read More →Between zero percent financing and looming regulatory changes, F&I managers have reason to worry. The editor weighs in with advice he learned in the batting cages.
Read More →After reading the CFPB’s consent order against U.S. Bank and its nonbanking partner, the magazine’s legal insider concludes the bureau is one heck of a negotiator.
Read More →In its second quarter earnings call, Credit Acceptance Corp. noted that its relationships with industry associations have kept it up to speed on looming regulations.
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