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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 Consumer Financial Protection Bureau is reportedly looking into the sale of F&I add-ons, a move that comes less than two months after the bureau said it would hold indirect auto lenders responsible for lending practices it considers discriminatory.
Read More →Automotive Compliance Consultants joins the American Financial Services Association to leverage its F&I compliance services for auto dealers in the wake of the CFPB's recent examination of dealer participation.
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.
Read More →The NADA and the National Association of Minority Automobile Dealers say the CFPB’s actions in regards to dealer participation will have an opposite effect on consumers, claiming their cost of credit will go up.
Read More →In a party line vote, the Senate Banking Committee approved the nomination of Richard Cordray to his five-year term as director.
Read More →In a bulletin issued today, the CFPB warned banking institutions that they could be on the hook for discriminatory markups imposed by dealers. The bureau’s notice also contains guidance on how finance sources should address fair lending risk.
Read More →Regulators are looking at our business, but the editor doesn’t think we have anything to fear — that’s if we’re ready to become part of the solution.
Read More →Senate Banking Committee Chairman Tim Johnson advocated for Consumer Financial Protection Bureau Director Richard Cordray to retain his position at a hearing March 12. A vote on the nomination will be held at a later date.
Read More →Ally Financial revealed in a March filing with the SEC that it is one of the banking institutions being investigated by the CFPB.
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