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Officials say they don’t expect the CFPB’s targeting of dealer participation to impact the company’s economics. They also offer updates on the company’s roll out of a prime product and its acquisition of Ally Financial’s international business units.
Read More →Dealer group execs showcase big gains in average PRUs, say they're prepared for whatever action the CFPB takes with respect to dealer participation.
Read More →The report details the tools the CFPB has made made available to consumers, as well as the bureau's research and outreach efforts. As a condition of Dodd-Frank, the CFPB is required to present the report on its activities to Congress annually.
Read More →The U.S. Senate confirmed Tuesday evening the appointment of CFPB Director Richard Cordray, a decision President Barack Obama praised during a press conference held yesterday.
Read More →The editor wonders if the departure of another director will weaken the CFPB. The latest news indicates the auto finance industry could suffer the most.
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Until last month, the CFPB was doing a lot more aiming than shooting. But its first enforcement action against an auto finance source and its partner company proves the agency isn’t firing blanks.
Read More →In paying tribute to Rick Hackett, the CFPB’s parting assistant director, the magazine’s legal insider says the industry lost a key connection to its newest regulator.
Read More →The CFPB is now taking consumer complaints regarding debt collectors. The bureau also warned firms they will be held accountable for unlawful debt-collection activities.
Read More →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.
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