Welcome to the Auto Loan Origination and Servicing chapter of our annual report Consumer Financial Services 2023 Year in Review.
Looking Ahead to 2024 -
We anticipate that the CFPB will continue its attempts to combat...more
2/16/2024
/ Automotive Loans ,
CARS Rule ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Enforcement Actions ,
False Advertising ,
Fees ,
Race Discrimination ,
Unfair or Deceptive Trade Practices
On July 13, 2023, the CFPB and various state attorneys general, along with California’s Department of Financial Protection and Innovation, filed an adversary proceeding against a sales training company for deceptive...more
7/24/2023
/ Adversary Proceedings ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
False Advertising ,
FDCPA ,
For Profit Education ,
Marketing ,
Regulation Z ,
State Attorneys General ,
Student Loans ,
Truth in Lending Act (TILA)
On February 23, 2023, the Consumer Financial Protection Bureau (CFPB) announced that it entered into a consent order with an auto lender based in Georgia....more
2/28/2023
/ Automotive Loans ,
Consent Order ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Enforcement Actions ,
Military Lending Act ,
Military Service Members ,
Regulation Z ,
Truth in Lending Act (TILA) ,
Unfair or Deceptive Trade Practices
2022 saw a flurry of regulatory activity by federal enforcement agencies — most notably, the Consumer Financial Protection Bureau (CFPB, or Bureau) — as the industry began to experience the full effects of the change in...more
2/22/2023
/ Automotive Loans ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Credit Cards ,
Credit Reports ,
Debt Collection ,
Financial Services Industry ,
FinTech ,
Mortgages ,
Payday Loans ,
Prepaid Payment Products ,
Privacy Laws ,
Student Loans