F&I tracks the rise and fall of the Consumer Financial Protection Bureau’s aggressive but ultimately futile five-year assault on dealer participation.
With the CFPB’s controversial guidance officially repealed, the editor delves into what the bureau was really after in its targeting of dealer participation.
The president’s signature comes exactly five years and two months after the bureau put the auto finance industry on notice with its controversial guidance on dealer rate markups.
As expected, the House approved the resolution of disapproval of the CFPB's guidance on dealer participation. With the Senate having voted on the resolution last month, all that's left to rescind the controversial guidance is President Trump's signature.
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