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Second Bill Aimed at Reining in the CFPB Passes House by 401-2 Vote

Arbitration Clauses Limit Consumer Relief, CFPB Says

In a report released this week, the regulator revealed that 75% of consumers did not know whether they were subject to an arbitration clause in their agreements with their financial service providers. The study covered six different consumer finance markets, including auto loans.

March 11, 2015

Passing the Compliance Test

Passing the Compliance Test

The current regulatory environment demands that dealers take a good hard look at their processes and policies. F&I pro offers some recommendations.

February 6, 2015

N.Y. Shuts Down Subprime Auto Lender

Condor Capital must pay an estimated $8 million in restitution to harmed customers, a $3 million penalty and admit violations of the Dodd-Frank Act and New York state law. The lender will also surrender its licenses in all states.

December 30, 2014

CFPB Takes First Action Against BHPH Dealer

DriveTime Automotive Group was ordered to pay an $8 million penalty for making harassing debt collection calls and providing inaccurate credit information to credit reporting agencies.

November 19, 2014

The CFPB’s Flexible Jurisdiction

The magazine’s legal insider doesn't believe the bureau has jurisdiction over the F&I products industry, but she admits there’s too much gray area in the Dodd-Frank Act to know for sure.

December 23, 2013

CFPB Releases Preliminary Arbitration Research

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.

December 12, 2013

Sizing Up the CFPB’s Threat

Sizing Up the CFPB’s Threat

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.

November 19, 2013

Town Delays Vote in Disparate Impact Case

Town Delays Vote in Disparate Impact Case

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.

November 7, 2013

[Video] Dodd-Frank Act to Headline F&I Conference and Expo

The magazine will convene an all-star cast of compliance and regulatory experts to delve into the Dodd-Frank Act and the Consumer Financial Protection Bureau. They’ll also touch on what’s happening at the state level.

August 29, 2013

AFSA Launches New Compliance Committee

The traded association's new Operations and Regulatory Compliance Committee will address the policies, guidance, enforcement actions and regulations issued by the federal government and agencies that impact its members.

August 20, 2013

CFPB’s No. 2 to Leave Agency

The Consumer Financial Protection Bureau’s No. 2 official will depart after a new set of mortgage rules is finalized, The Wall Street Journal reports.

November 13, 2012

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