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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.
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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 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 →Ally Financial revealed in a March filing with the SEC that it is one of the banking institutions being investigated by the CFPB.
Read More →Experts weigh in on recent reports that the CFPB issued warnings to banks over practices related to auto retail installment sales transactions. If reports are correct, experts believe the CFPB may be stretching the definition of the Equal Credit Opportunity Act too far.
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